Andrew Harnik / AP

A potential win for Bannon comes in the Financial Times lead story, "Trump fires protectionist warning over steel industry," by Shawn Donnan in D.C. (paywall):

  • Why it matters: "The decision to use a 1962 law allowing the US government to limit imports that threaten its security readiness is intended to deliver on Mr Trump's campaign promises ... But it risks setting off trade tensions with China."
  • The big picture, from a New York Times front-pager by Mark Landler, "White House Roaring Again On Free Trade": "From Mr. Trump's 'buy American, hire American' rallying cry in Wisconsin this week to Vice President Mike Pence's warnings to Japan and South Korea about the need to rewrite trade deals, the Trump administration is moving against free trade on multiple fronts."
  • What's next: "A senior White House official said there would be two trade-related events a week for the next few weeks."
  • Key sentence: "The flurry of activity amounts to a comeback by nationalists like Mr. Bannon."

Go deeper

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Illustration: Aïda Amer/Axios

One of the country's oldest and most established media companies is starting to look more like a Hollywood studio than a traditional newspaper.

Driving the news: The New York Times has 10 scripted TV show projects in development, as well as 3 feature documentaries coming out this year and several other documentary projects in development and production, executives tell Axios.

Electric vehicle companies are reeling in cash without producing a car

Illustration: Sarah Grillo/Axios

These are heady days for electric vehicle companies, with a lack of actual car production becoming a popular norm.

Why it matters: The capital infusion is the latest in a busy stretch of deals and market moves that suggest private investors and equity markets see big potential in technologies that now represent a tiny slice of the global vehicle fleet.

Updated 1 hour ago - Politics & Policy

Federal government carries out first execution since 2003

Lethal injection facility in San Quentin, California. Photo: California Department of Corrections and Rehabilitation via Getty Images

The first execution carried out by the federal government since 2003 took place on Tuesday at a federal prison in Indiana after an early-morning Supreme Court decision allowed it to move forward, the Washington Post reports.

The big picture: A lower court had delayed the execution, saying inmates had provided evidence the government's plan to carry out executions using lethal injections "poses an unconstitutionally significant risk of serious pain."