Panama hands canal ports control to Maersk and MSC after ejecting Hong Kong group
Shipping companies to temporarily operate terminals after Supreme Court ruling against CK Hutchison
Trump’s 10% global tariff to go into effect despite threat of higher rate
The US president had said at the weekend he would raise the levy to 15% but an order has not materialised
Transcript: Trump’s tariffs are not dead yet, with Michael Froman
Soumaya Keynes speaks to Michael Froman, president of the Council on Foreign Relations
Millions of people are returning to Taliban-run Afghanistan
Iran and Pakistan have deported nearly 3mn Afghans over the past year
Panasonic turns off US TV business with handover to Chinese rival
Skyworth to take over parts of Japanese electronics group’s foreign television operations
Mandelson arrested on suspicion of misconduct in public office
UK peer under investigation after relationship with Jeffrey Epstein revealed in US justice department documents
Anthropic accuses Chinese AI labs of ‘distillation attacks’ on its models
US company says it identified actions by rivals DeepSeek, Moonshot and MiniMax
US tariff strike-down creates new trade dilemmas for India
Also in this newsletter: the bulldozers are coming to Great Nicobar
FedEx sues Trump administration for tariff refunds
Shipping company is first major American company to file suit over levies since Supreme Court deemed them illegal
Letter: How the UK can expand the reach of the BBC World Service
From Peter Bazalgette, London W2, UK
Letter: By Royal Disappointment
From JML Stone, London W1, UK
Supreme Court rules Trump’s tariffs illegal
‘I’m suing China’
Letter: There’s more to tariff policy than pass-through costs
From Mihir Torsekar, Senior Economist, Coalition for a Prosperous America, Alexandria, VA, US
Letter: Horses for courses
From Charlie Metcalfe, Lisbon, Portugal
The appeal of South Tyrol
Despite occupancy rules that limit supply for foreign owners, the region is starting to attract international interest
Letter: What happens if the White House switches off the AI?
From Abigail Perez, London EC1, UK
China is not dumping US Treasuries
Ignore the amateur geopolitical strategists talking eloquently about the end of dollar dominance
FT Crossword: Number 18,302
Citi to sell another stake in Mexico’s Banamex ahead of IPO
General Atlantic and Blackstone’s funds are among buyers as New York bank marks another step towards exiting business
World Liberty’s stablecoin attacked, Trump-backed crypto group says
Company says hackers accessed some of its founders’ social media accounts in bid to knock the price of the token
Never have market narratives been more narrative
Spooky story released; stocks fall
FirstFT: Volodymyr Zelenskyy urges US to see through Russia’s ‘games’
Also in today’s newsletter: Peter Mandelson arrested and Washington evacuates staff from Lebanon embassy
US software and private capital shares hit with fresh wave of selling
Wall Street banks also slide as fears over AI disruption mount
Zelenskyy urges Trump to see through Russia’s ‘games’
In an FT interview, Ukraine’s president says conflict at ‘beginning of the end’ because both sides need a ceasefire