This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia<\/a>, Europe\/Africa<\/a> or Americas<\/a> edition to get the newsletter delivered every weekday morning. Explore all of our newsletters here<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n Good morning. In today\u2019s newsletter: <\/p>\n Trump pauses tariffs on Mexico and Canada<\/p>\n<\/li>\n Samsung chair secures legal victory<\/p>\n<\/li>\n South Korea\u2019s deepfake crisis<\/p>\n<\/li>\n<\/ul>\n The US will pause tariffs on Canada and Mexico for 30 days after the countries reached eleventh-hour deals with President Donald Trump, causing markets to whipsaw as investors and companies struggled to keep up with the White House\u2019s plans for sweeping tariffs on key trading partners.<\/p>\n Trump agreed to delay tariffs for a month following phone calls with Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau.<\/p>\n Sheinbaum said Trump had delayed the 25 per cent tariffs after she promised to send 10,000 National Guard troops to the border with the US to combat drug trafficking. <\/p>\n Trudeau, meanwhile, agreed to send \u201c10,000 frontline personnel\u201d to the border to \u201cstop the flow of fentanyl\u201d in exchange for a pause on US tariffs. <\/p>\n The S&P 500, which had earlier fallen almost 2 per cent, closed 0.8 per cent lower. Currency markets also whipsawed, as the Mexican peso and Canadian dollar both rebounded from earlier declines.<\/p>\n Investors said Trump\u2019s apparent U-turn underlined how difficult it was for markets to keep up with the fast-changing tariff plans.<\/p>\n \u201cMy head hurts,\u201d said\u00a0one FX trader at a large European bank<\/a>. \u201cIt\u2019s almost impossible to trade, there\u2019s too much [news] to process. Buy. No wait, sell. No, actually buy. [Or] just give up,\u201d the person added.<\/p>\n Follow our live blog<\/a> for the latest developments. And for more coverage of global trade, I recommend Alan Beattie\u2019s weekly Trade Secrets newsletter. Sign up for it here<\/a> if you\u2019re a premium subscriber, or upgrade<\/a> your subscription.<\/p>\n Here\u2019s what else we\u2019re keeping tabs on today:<\/p>\n Israel-Hamas war:<\/strong> Benjamin Netanyahu is set to meet US President Donald Trump at the White House, with the discussion expected to centre on whether the temporary truce agreed last month will become a permanent ceasefire<\/a>.<\/p>\n<\/li>\n India-EU relations:<\/strong> The IIC-Bruegel Annual Seminar, a two-day closed-door workshop focusing on key aspects of India-EU ties, begins in New Delhi.<\/p>\n<\/li>\n Results:<\/strong> Alphabet, Nintendo and Mitsui are among the companies reporting earnings.<\/p>\n<\/li>\n<\/ul>\n 1. Samsung chair Lee Jae-yong has secured a major legal victory<\/strong> with an appeals court clearing him of long-running accounting fraud and stock manipulation charges. The ruling comes at a critical time for Samsung<\/a>, which has been under pressure over its struggling chip business.<\/p>\n 2. Secretary of state Marco Rubio announced yesterday he had taken over as acting director of the US Agency for International Development. <\/strong>It was the latest blow against the country\u2019s main foreign assistance agency, which Trump has said is run by \u201cradical lunatics\u201d. Earlier in the day the agency\u2019s headquarters was unexpectedly closed<\/a> with staffers ordered to work from home.<\/p>\n Corporate America cosies up to Musk:<\/strong> The largest US companies are cutting deals with Elon Musk\u2019s businesses<\/a> or touting links with the world\u2019s richest man as he solidifies his power within Trump\u2019s administration.<\/p>\n<\/li>\n<\/ul>\n 3. Artificial intelligence start-up Anthropic has demonstrated a new technique to prevent users from eliciting harmful content from its models.<\/strong> The development by Anthropic comes amid growing industry concern over \u201cjailbreaking\u201d \u2014 attempts to manipulate AI models into generating illegal or dangerous information<\/a>.<\/p>\n 4.<\/strong> Trump yesterday said he wanted a deal granting the US access to Ukraine\u2019s rare earths resources<\/strong> in exchange for continued military and economic aid to Kyiv as it struggles to halt Russia\u2019s invasion. The proposal appears to align with a strategy Ukraine has been developing to deepen ties with the Trump administration. Here are more details<\/a>.<\/p>\n 5.<\/strong> Sir Keir Starmer yesterday night urged EU leaders to re-engage with Britain five years after Brexit,<\/strong> as he refused to \u201cchoose\u201d between closer relations with Brussels or Washington. Starmer, the first British premier to address the European Council of EU leaders since Brexit, said he wanted a new defence and security pact to be at the heart of a \u201creset\u201d relationship<\/a>.<\/p>\n Since leaving Washington as a senior adviser to his father-in-law Donald Trump, Jared Kushner has built up a global portfolio of company stakes and property, across eastern Europe, the Gulf and Latin America. Many of those deals have been facilitated by contacts he made while in government \u2014 or by the high profile that comes from having been one of the US president\u2019s most trusted aides. Kushner has demonstrated an ability to convert relationships and proximity to power into big investments<\/a>.<\/p>\n South Korea\u2019s deepfake crisis:<\/strong> A wave of AI-generated deepfake porn<\/a> reveals the country\u2019s ongoing lack of gender equality, writes Song Jung-a.<\/p>\n<\/li>\n Global development: <\/strong>Amid a flurry of disruptive executive orders since Trump took office, the future of international economic institutions is up for grabs<\/a>, writes Adam Tooze.<\/p>\n<\/li>\n DEI:<\/strong> While some companies are retreating from initiatives set up to improve the representation of their workforces, executive teams and boardrooms, others are doubling down<\/a>.<\/p>\n<\/li>\n<\/ul>\n Trump\u2019s demands to buy Greenland have triggered a surge of interest in the Arctic island\u2019s mining companies<\/a> and their potential to produce key elements used in everything from electric vehicles to missile guidance systems, investors said.<\/p>\n Museums in major cities are increasingly \u201cpairing\u201d high art with top food, and Melbourne is no different. FT Globetrotter has compiled a list of the top gallery restaurants in the Victorian capital<\/a>.<\/p>\n Thank you for reading and remember you can add FirstFT<\/a> to myFT. You can also elect to receive a FirstFT push notification every morning on the app. Send your recommendations and feedback to firstft@ft.com<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n One Must-Read<\/strong> \u2014 Remarkable journalism you won\u2019t want to miss. Sign up here<\/a><\/p>\n Newswrap<\/strong> \u2014 Our business and economics round-up. Sign up here<\/a><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n
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