US president Donald Trump threatens to raise tariffs on all Chinese imports to 25 per cent, Occidental Petroleum adds more cash to the structure of its $55bn offer to buy Anadarko Petroleum and the European Union prepares to launch a formal antitrust investigation into Apple. Plus, the FT’s economics editor Chris Giles explains why the global economy looks stronger than the “delicate moment” the IMF had expected this spring. See acast.com/privacy for privacy and opt-out information.