10-12-2025 12:08 via ft.com

FirstFT: ICE’s dragnet data operation

Also in today’s newsletter: final interviews for Fed chair and JPMorgan warns expenses to rise by $9bn next year

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Trump’s tariffs intensify strain on US farmers, Deere warns

IMF calls on China to fix economic ‘imbalances’

‘Vital’ EU-Mercosur trade deal hangs in the balance days before deadline

FirstFT: EU races to bypass Orbán on Russian assets

The Wolf-Krugman Exchange: America vs. the world

Germany sees high hurdles to winning ECB presidency

EU companies say ‘undervalued’ renminbi aiding China’s exporters

China adds domestic AI chips to official procurement list for first time

Trump to pit Hassett against trio of Fed chair finalists

US-Indonesia trade deal at risk of collapse

Trump to kick off final round of Fed chair interviews this week

Donald Trump to pit Kevin Hassett against trio of Fed chair finalists

The meaning of China’s $1tn trade surplus

Bank of England rate-setters divided ahead of decision next week