Xi Jinping warns that protectionism will not lead anywhere

Hello and welcome to Firstft. On today's agenda:

• Xi Jinping begins the tour in Southeast Asia

• Argentina accepts a new currency regime

• The president of the Daniel Noboa equales wins the re -election

• Why prevails over the nostalgia for manufacturing will make the United States poorer

Xi Jinping warned that American protectionism will not lead anywhere and produce no winner while the Chinese chief embarked on a tour of Vietnam, Malaysia and Cambodia to strengthen links with the economies of Southeast Asia linked to exports shaken by Donald Trumps, a trade war.

Why XI visits countries like Vietnam and Cambodia? This is the first trip abroad of Chinese leaders this year and is in an increased business tensions between the United States and China. The United States has targeted southeast Asian countries which have high commercial surpluses in goods with the United States with rates of up to 49%. The approach of American trade governments has unstable countries in the region, allowing Beijing to speak of the world international order and reassuring these countries that China remains open for business, said Dylan Loh, assistant professor at Singapores Nanyang Technological University. The leaders of these countries are also under pressure from the United States to repress the transitages of Chinese products through their countries to bypass the American rates.

Where are we on prices after the weekend? The atmosphere on the markets today is generally positive after the administration of Donald Trumps indicated a suspended price for mobile phones, laptops and other consumer electronics imported into the United States from China. Asian and European markets have increased today and that term exchanges suggest that American actions will later open this morning. The sculpture will prove a boost for Apple, which is strongly based on imports from China to serve its customers in the United States. Speaking to journalists last night, Trump said that his administration would show the flexibility of certain products and indicate that he would discuss prices with key companies in the coming week. Asked about the price for semiconductors, the American president said he would announce it next week. Follow our blog live for the latest market updates and follow the rate of prices with this Trump interactive tracker.

• Unravel the prices: Trumps' policies will severely test the financial system and the Global Standing Americas, writes Mohamed El-Erian.

Here is what others had an eye on today:

• Argentina: The PESO will start to negotiate on a new exchange rate regime this morning after the government of Javier Mileis agreed during the weekend to soften strict currency controls in exchange for a loan of $ 20 billion in the IMF.

• Companies: Meta faces an antitrust trial against the Federal Trade Commission in Washington, while Goldman Sachs reports the results of the first quarter.

• Monetary policy: The governors of the Federal Reserve Thomas Barkin, Christopher Waller and Patrick Harker appear today at various events.

Submit your questions On the way Trump changes world trade and geopolitics, and making them respond to FTS experts in a live Q&R on Wednesday.

Five other best stories

1. The president of the skills, the president of the market, Daniel Noboa, was re -elected, seeing the left rival Luisa Gonzlez during a runoff vote.The pollsters had predicted a tight race after less than 17,000 votes separated the pair in February in the first round, but Noboa, the 37 -year -old son of a billionaire banana magnate, won a comfortable victory.

2. A group of American teachers continued Administration Donald Trumps for his threat of retaining $ 8.7 billion in federal funding from Harvard University. The trial, submitted by the American Association of University Presidents and its affiliate of Harvard, is part of an increasing effort by teachers, students and former students to postpone attacks by the Trump administration.

3. Germany is ready to send long -range missiles from the bull in Ukrainesaid the Chancellor of the country waiting yesterday, when he pointed out the need to put Kyiv on the front foot and to force the concessions of Russian President Vladimir Putin. Friedrich Merz qualified a Russian attack on the Ukrainian city of Sumy a serious war crime.

• More about Sumy's attack: The ballistic missile strike left 34 dead and 117 wounded, according to Ukral President Volodymyr Zelenskyy and government representatives.

4. Israel bombed one of the main hospitals in Gaza Citys yesterdayAfter the country's Minister of Defense said that his forces were expanding their new offensive on the territory. The diocese of Jerusalem said that Israeli forces had given the people of Al Ahli hospital, which is led by the Anglican church, barely 20 minutes to leave the strike.

5. KKR appointed General David Petraeus as president of his expansion activities of the Middle East while fund managers accumulate in the Gulf region rich in oil. The American investment capital company has announced the former appointment of CIA directors in parallel with the launch of an investment team dedicated to the region.

In -depth news

Mark Carney managed to position himself as an antidote to Trump, with three decades of experience in global finance and in the development of politicians. But with only two weeks before an early election, the Prime Minister of Canada also tries to convince Canadians that he has real roots in the country, despite their life abroad for many years.

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• British economy: Global troubles are still aggravating the situation of British productivity, writes Martin Wolf, and only the development of active policies can make a difference.

• John Browne: The former managing director who directed BPS beyond the change of oil brand speaks of the FT when he is preparing to stand in the elections as Chancellor of Cambridge University.

• India debt crisis: An increase in unsecured credit among the booming countries of the middle class night at its economic ambitions.

• MBDA: The efforts of one of the largest manufacturers of European missiles to rearore the continent struck the hooks.

Graphic of the day

Trumps Vision requires a conviction that the United States can, and should bring back factory jobs with high work intensity, writes Tej Parikh in free lunch. But with an anti-immigrant position and few Americans who love industrial work, it is not clear that will feed its original reader. (Prime)

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Take a break in the news

The Peruvian author Mario Vargas Llosa, an imposing figure in Latin American literature, died Sunday in Lima at the age of 89. He was best known for his 1969 novel Conversation in the cathedral, which examined the Peruvian society in the 1950s under the military dictatorship of Manuel Odra. He received the Nobel Prize in literature in 2010.