Welcome to The Brink. Reporters in the US and Europe have been looking at the mayhem triggered by Donald Trump’s tariffs on corporate debt. We also have news on UK insolvencies, Italian-Thai Development and The Dolphin Company. Follow this link to subscribe. Send us feedback and tips at [email protected].

Donald Trump’s global trade war is already priming financial markets for the next wave of corporate defaults. A Bloomberg News measure of distressed debt worldwide swelled the most in at least 15 months this week, sending more than $43 billion of bonds and loans to levels that make it challenging to refinance.