<p>Swiss lawmakers have assured senior UBS executives that they will water down stringent new rules and the Trump administration took its first step in opening the more than $10tn US retirement marketplace to private markets. Plus, as part of our series marking one year since so-called Liberation Day, the FT’s Stefania Palma explains the rocky legal future of US tariffs.&nbsp;</p><br><p><strong>Mentioned in this podcast:</strong></p><p><a href="https://www.ft.com/content/727eec9f-8548-45ff-8b74-88f2d5efb685?accessToken=zwAAAZ3afVCPkc9yfuyfhUhF_9OLdIjy1e-2hQE.MEYCIQDRmZjn815Euk6ktcrBFGIPIQCCvey5K93ciLb1hPI87wIhALN8H1VprNcfSMX-L7xSR6ZqmXTy0LBPsr7ZVxezHrM2&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">Swiss lawmakers signal compromise on $22bn UBS capital plan</a></p><p><a href="https://www.ft.com/content/f38575bf-7d7e-41a8-ae77-6e25c44de3a2?accessToken=zwAAAZ3abKLWks9R90g0ZXBKTdO_6cnIxLsXT9PzhXW_fX5BqNOud24lxE3jogE.MEUCIQC_s2-YJmytPjBkPCFWf2tguCy7BmJycLIiV5YVUcSvjAIgNdWj6TaTR5HxAbJ6ClgtTU9osazEEzHzEfp2hFNGDpQ&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">Trump to take first steps in opening retirement funds to private markets</a></p><p><a href="https://www.ft.com/content/51f74834-6570-4a4d-bfe9-c9c8c4bb174f?accessToken=zwAAAZ3abKLWks9R90g0ZXBKTdO_6cnIxLsXT9PzhXW_fX5BqNOud24lxE3jogE.MEUCIQC_s2-YJmytPjBkPCFWf2tguCy7BmJycLIiV5YVUcSvjAIgNdWj6TaTR5HxAbJ6ClgtTU9osazEEzHzEfp2hFNGDpQ&amp;segmentId=7d4bcc2e-e664-92ba-62e3-5590579f1902" rel="noopener noreferrer" target="_blank">The Supreme Court sends tariffs on a turbulent descent</a></p><p><a href="https://www.ft.com/content/a2127804-bd1d-47d2-9e5b-8d31a907c8ca?edit=true" rel="noopener noreferrer" target="_blank">Listen to the FT News Briefing’s tariffs series here</a></p><br><p>Note: The FT does not use generative AI to voice its podcasts&nbsp;</p><br><p>Today’s FT News Briefing was hosted and edited by <a href="https://www.ft.com/marc-filippino" rel="noopener noreferrer" target="_blank">Marc Filippino</a>, and produced by Saffeya Ahmed, Victoria Craig, and Sonja Hutson.&nbsp;Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann and David da Silva. Our executive producer is Topher Forhecz. Cheryl Brumley is the FT’s Global Head of Audio. The show’s theme music is by Metaphor Music.</p><br><p><a href="https://www.ft.com/content/fd2a3c77-c908-4fa2-8a0e-8ed4eb767548" rel="noopener noreferrer" target="_blank"><strong>Read a transcript of this episode on FT.com</strong></a></p><p><br></p><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>