International Trade Secretary Kemi Badenoch has criticised US President Joe Biden’s new green subsidies, calling them protectionist – that’s on the front of the Financial Times.
There are fears Joe Biden’s “protectionist” US package of green subsidies will hit UK-based makers of electric cars. The paper writes Ms Badenoch has written to her US counterpart to protest over the $369bn measure.
A bugbear is a subsidy for electric cars only including vehicles mostly made with parts from America or with batteries sourced from countries with a free trade agreement, excluding the EU and UK.
The front page of the business newspaper The Financial Times this morning, April 16 2025, reports on the fallout from the US tariffs. The lead story reports that Wall Street banks reap $37 billion after traders ‘cash in’ on the volatility caused by the tariff chaos. Wall Street banks reap $37bn after traders cash in on Trump volatility Wall Street’s biggest banks reaped almost $37bn in trading revenues in the first quarter of the year
Risky corporate borrowers shut out of bond market since Trump’s tariff blitz America’s risky corporate borrowers have been shut out of the bond market since Donald Trump’s tariff blitz, in a freeze that is reverberating across Wall Street and which threatens a tentative rebound in dealmaking. Lowly-rated companies have failed to sell any debt in the $1.4tn US high-yield bond market since Trump unleashed market turmoil and raised fears of a US recession with the
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