Liechtenstein's zombie-trust apocalypse

US President Donald Trump extended tariff deadlines, and Liechtenstein’s trust industry is in a crisis spurred by American sanctions against Russia. Plus, Shein filed for an initial public offering in Hong Kong, and Elon Musk is trying to save Tesla from Trump. Mentioned in this podcast:Donald Trump renews threat to hit trading partners with steep tariffsLiechtenstein hit by Russia-linked ‘zombie trust’ crisisShein files for Hong Kong IPO to pressure UK to save London listing‘Elon has finally woken up’: Musk battles to save Tesla from TrumpToday’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, and Marc Filippino. Additional help from Blake Maples, Michael Lello and David da Silva. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

What this episode covers

US President Donald Trump extended tariff deadlines, and Liechtenstein’s trust industry is in a crisis spurred by American sanctions against Russia. Plus, Shein filed for an initial public offering in Hong Kong, and Elon Musk is trying to save Tesla from Trump. Mentioned in this podcast:Donald Trump renews threat to hit trading partners with steep tariffsLiechtenstein hit by Russia-linked ‘zombie trust’ crisisShein files for Hong Kong IPO to pressure UK to save London listing‘Elon has finally woken up’: Musk battles to save Tesla from TrumpToday’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, and Marc Filippino. Additional help from Blake Maples, Michael Lello and David da Silva. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

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This episode was published on July 8, 2025.

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