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UK.

Good morning from the Financial Times. Today is Friday, May 16th, and this is your FT News briefing.

Japan has made it very clear.

It won't settle for a meh trade deal.

And Bill Ackman is trying to do his best Warren Buffett impression.

Berkshire replicas either fail or come and go,

and you just really have never actually seen anyone build the real advantages that Buffett's built.

Plus, we'll take a look at the first round of Polish elections coming up this weekend.

I'm Mark a Filipino, and here's the news you need to start your day.

Japan looks like it's going to hold out on a trade deal with the U.S. until it gets better terms.

And in this case, Tokyo is pushing to remove U.S. President Donald Trump's 25% tariffs on Japanese cars.

Prime Minister Shigeru Ishiba started out fast.

Japan was the first country to get Washington to the negotiating table after so-called Liberation Day.

But since then, Ishibas come under a ton of political pressure to reject any deal that puts Japan's car sector at risk. So the focus has shifted from a fast

deal to a good deal. And that political pressure is coming from the parliamentary elections that are

set to happen before late July,

they're expected to be pretty difficult for Ishiba's party.

...