Rolling coverage of the latest economic and financial news

• Trump’s tariff threat sets stage for bitter global trade war

Overnight, Donald Trump has picked a protegé of Robert Lighthizer, his trade representative in the first Trump administration, to lead trade policy in Trump 2.0.

Jamieson Greer, an attorney, will serve as the next US trade representative, Trump announced ovenight, and will be tasked with reining in the trade deficit and opening up “export markets everywhere”.