Trump's 'Liberation Day' Tariffs: Fair trade or global trade war?

FT·uk The latest news, analysis and opinion on the War in Ukraine. Visual story How Ukraine broke Russia’s grip in the Black Sea Attacks on Moscow’s warships have helped to establish an export corridor that could boost Kyiv’s war effort ExplainerWar in Ukraine Tracking Ukraine’s counteroffensive against Russia in maps Gazprom OAO Gazprom plunges to worst loss in decades as sales to Europe collapse North Korea US readies sanctions over Russian petroleum supplies to North Korea US politics & policy US includes Chinese groups in sanctions over aid to Russian military Opinion & Analysis The FT ViewThe editorial board Two decades on, the EU needs a new Big Bang enlargement The Big Read The clash over whether to commandeer Russia’s frozen assets Special ReportRisk Management: Financial Institutions Banks face new risks as US tightens sanctions on Russia News in-depthUkraine military briefing Military briefing: Ukraine battles to hold vital stronghold Chasiv Yar Understanding the conflict War in Ukraine War in Ukraine: military strategies War in Ukraine War in Ukraine: geopolitics War in Ukraine War in Ukraine: economy and trade News in-depthWar in Ukraine Western business, the Kremlin and the war More War in Ukraine MAY 7 2024 News in-depth Ukraine’s pitch to new soldiers: ‘Choose your own adventure’ Kyiv hopes to replenish its forces by giving recruits the choice of where to serve Save A billboard advertising for Ukrainian recruits MAY 6 2024 Poland Polish judge defects to Belarus amid conflicting accusations Tomasz Szmydt said he was persecuted by Warsaw, which in turn accused him of treachery Save Tomasz Szmydt shows his identification to media in Minsk, Belarus on Monday Brussels seeks to ban Russian funding of European politicians Latest draft sanctions aim to weaken Putin’s war effort in Ukraine and Moscow’s disinformation campaigns Save Ukrainian soldiers operate a 2S1 Gvozdika (“Carnation”) self-propelled howitzer News in-depthGeorgia Georgia’s puppet master turns towards Moscow Oligarch Bidzina Ivanishvili has sought to steer Caucasus nation back into Russia’s orbit Save Bidzina Ivanishvili Gönül Tol America must continue to make the moral case for democracy The war in Ukraine has led the US to accept the flaws of autocratic allies such as Turkey Save Recep Tayyip Erdogan and Joe Biden smile and gesture towards each other Putin orders nuclear drills in response to Macron ‘threats’ Russian armed forces will rehearse use of ‘tactical’ nuclear weapons in combat situations Save Russian Iskander mobile short-range ballistic missiles are displayed during a rehearsal for the Victory Day military parade in St Petersburg, Russia, on Sunday FT News Briefing podcast12 min listen Xi’s balancing act with Europe The Chinese president’s first trip to region since 2019 comes amid rising tensions Save MAY 5 2024 News in-depthRussian economy Russian finance flows slump after US targets Putin’s war machine Washington’s crackdown shows its leverage over global banking system Save A montage of a picture of Vladimir Putin and Russian roubles Martin Sandbu Authoritarians fear transparency — liberal democracies should embrace it There is a first-mover advantage to openness on Russian assets Save Soldiers stand in a trench Sullivan says US military aid will help Ukraine mount counteroffensive in 2025 National security adviser says supplies and weapons approved by Congress could help stop Russian gains Save Ukrainians light candles ahead of an Orthodox Easter mass at St Volodymyr Cathedral in Kyiv on Saturday Russian espionage Russia plotting sabotage across Europe, intelligence agencies warn Assessments suggest Kremlin agents preparing covert bombings, arson and attacks on infrastructure Save Montage of map of Europe and the Kremlin complex MAY 1 2024 Japan Tobacco Inc Japan Tobacco reshapes supply chains to protect Russia business Cigarette maker’s chief says its four factories and 4,000 workers in the country are operating as usual Save Masamichi Terabatake APRIL 30 2024 War in Ukraine: military strategies Key articles on Russia and Ukraine’s battle tactics Save Montage with a solider Turkish economy Turkey’s trade with Russia drops after US pressure US Treasury can hit Turkish banks with secondary sanctions if they are involved in exports used in Ukraine war Save A port in Istanbul ‘Russian fertiliser is the new gas’ for Europe, top producer warns Imports of urea into the EU doubled in the wake of Moscow’s invasion of Ukraine Save granules of urea Europe Express Why a fight over the next EU budget is already starting to brew Premium content Also in this newsletter: How Gazprom is trying to re-enter European football Save European Commissioner for Budget and Administration Johannes Hahn addresses a media conference Natural gas Ukraine energy chief calls on EU to help protect gas storage from Russia Naftogaz chief executives highlights air strikes targeting natural gas tanks used by European countries Save Oleksiy Chernyshov APRIL 29 2024 UK sanctions are failing to hamper Russia’s economy, says senior MP Head of inquiry into effectiveness of measures says more must be done to dent Moscow’s defence budget Save Harriet Baldwin The Big Read How Europe solved its Russian gas problem The bloc has avoided an energy crisis, but the short-term solutions could harm competitiveness and the green transition down the line Save A montage of images of a pressure gauge dial with yellow stars of the EU flag around it and against an EU blue background map of Europe Western business, the Kremlin and the war Western banks in Russia paid €800mn in taxes to Kremlin last year Figure represents a fourfold increase on prewar levels and comes as profits jump at European lenders still in the country Save Montage of company logos and the Kremlin APRIL 28 2024 Baltic States Russian GPS jamming threatens air disaster, warn Baltic ministers Interference with navigation signals blamed on Moscow has forced two Finnish flights to turn around mid-journey Save A Finnair plane News in-depthRussian politics Russian defence chief suffers blow in Moscow power games Sergei Shoigu’s fortunes seem to be turning after deputy is detained on corruption allegations Save Sergei Shoigu and Vladimir Putin at a meeting APRIL 27 2024 Lawrence Freedman What new aid really means for Ukraine — and for Putin Kyiv will have to husband its new resources carefully before trying to liberate Russian-occupied land Save Ukrainian soldiers fire at Russian positions near the city of Avdiivka in the Donetsk region APRIL 26 2024 US to rush Patriot missiles to Ukraine as Pentagon builds up support Move comes as Biden administration begins parcelling out funds unlocked by Congress this week Save US soldiers with a Patriot missile defence system FT CollectionsWar in Ukraine: military strategies Military briefing: Russia’s narrowing advantage in Ukraine Moscow’s forces are unlikely to succeed in a massive offensive this year Please use the sharing tools found via the share button at the top or side of articles. 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More information can be found here. https://www.ft.com/content/ca536cdb-8847-4c2e-9eca-1621e48a04dc Chinese politics & policyAdd to myFT Xi Jinping lashes out at Nato over 1999 Belgrade bombing ahead of Serbia visit Chinese president cites ties ‘forged with blood’ as he looks for allies during first European trip in 5 years From left, Brigitte Macron and French President Emmanuel Macron, and Chinese President Xi Jinping and his wife Peng Liyuan at the Élysée Palace on Monday © Ludovic Marin/AFP/Getty Images Xi Jinping lashes out at Nato over 1999 Belgrade bombing ahead of Serbia visit on x (opens in a new window) Xi Jinping lashes out at Nato over 1999 Belgrade bombing ahead of Serbia visit on facebook (opens in a new window) Xi Jinping lashes out at Nato over 1999 Belgrade bombing ahead of Serbia visit on linkedin (opens in a new window) Share Save current progress 0% Joe Leahy in Beijing 26 MINUTES AGO 8 Print this page Keep up with the latest news on Asia's biggest economy.Explore the China Focus hub China’s President Xi Jinping has lashed out at Nato over its “flagrant” bombing of the Chinese embassy in Belgrade in 1999 as he tries to cement ties with Serbia ahead of a visit to the Balkan country on Tuesday. Xi, who is travelling in Europe for the first time in five years, will head to Serbia on Tuesday afternoon from the French Pyrenees, where French President Emmanuel Macron is hosting him on the final day of a three-day state visit to France. In a signed letter in the Serbian media outlet Politika, Xi invoked the 25th anniversary on Tuesday of the Nato bombing of the Chinese embassy in the former Yugoslavia during the Kosovo war to call for unity between Beijing and Belgrade. “Twenty-five years ago today, Nato flagrantly bombed the Chinese embassy in Yugoslavia, killing three Chinese journalists . . . This we should never forget,” Xi said, according to an English version of the article. “The China-Serbia friendship, forged with the blood of our compatriots, will stay in the shared memory of the Chinese and Serbian peoples.” His European trip, which will also include Hungary, is seen by analysts as aiming to exploit differences on the continent in attitudes towards Russia and the US and potentially undermine the unity of Nato and the EU on China. Chinese academics have praised Macron’s advocacy of a more independent European stance on the global stage while Serbia and Hungary are seen as more pro-Russia despite the Ukraine war. During Xi’s visit, French and Chinese companies signed several co-agreements, including metro construction contracts for France’s Alstom and a memorandum of understanding with Airbus on deepening aviation co-operation, but no big orders. Recommended Gideon Rachman Xi is probing for cracks in the EU and Nato Serbian President Aleksandar Vučić, who will host Xi, was propaganda minister for former leader Slobodan Milošević during the Nato bombing of Belgrade — an event that solidified Serbia’s anti-American stance. Nato has said the Chinese embassy bombing was an accident that happened during a war to protect Kosovans from Serbian aggression. In one potential sweetener for Serbia, China’s customs administration announced on Tuesday that it would lift an avian flu alert on Serbian poultry products. Chinese media have carried several days of blanket coverage of Xi’s trip to Europe. The People’s Daily, the Communist party mouthpiece, quoted him as telling Macron and European Commission president Ursula von der Leyen at the Élysée Palace on Monday that there was “no such thing as China’s overcapacity problem” in response to western concern over the possible dumping of subsidised Chinese goods. In a separate interview, Beijing’s ambassador to Hungary extolled the country’s key role in the Chinese infrastructure scheme, the Belt and Road Initiative, in Europe, acting as a rail distribution hub for freight from China. He also touted a high-speed railway between Belgrade and Budapest built with Chinese companies.