Amazon warehouse in Castel San Giovanni, Italy. Photo: Emanuele Cremaschi / Getty

Trump's attacks on Amazon are likely to put the company under added tax scrutiny by foreign governments, according to a report by Wells Fargo.

Why it matters: Ken Sena, a senior analyst with the bank, said Trump's multi-day Twitter rant regarding retail closures and his "perceptions of Amazon tax evasion stand to play well to some foreign and state governments who conceivably share the president’s concerns."

Sena wrote:

  • "As the potential exists for the rhetoric and tweet barrage to intensify, we see the president’s actions as potentially stirring additional scrutiny of Amazon, beyond the Federal government, particularly where tax is concerned."
  • "This is likely true even though many of us remember the Presidential debate where we heard from the President how not paying federal taxes 'makes me smart.'”

The European Union has already had Amazon, as well as the rest of American big tech companies, under its gaze:

  • In October, the EU ordered Amazon to pay $294 million because of an "illegal tax advantage."
  • Last month, the EU said it may charge all the big tech companies a digital tax of 3% on gross revenue in individual countries.

Tesla's potential hit: Brian Johnson, an analyst with Barclay's, says Tesla may become another victim of Trump's most recent tirades, in this case his trade tariffs against China.

  • China has added a 25% levy on top of an already-existing import tariff on foreign cars. Currently, a Tesla Model S 100D costs $148,000 in China, versus $94,000 in the U.S. The new tariff will go on top of that.
  • Last year, Tesla sold 17% of its cars in China. Unlike most other carmakers, Tesla doesn't manufacture any vehicles in China.

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Data: The COVID Tracking Project. Note: Vermont and Hawaii were not included because they have fewer than 20 cases per day. Chart: Andrew Witherspoon/Axios

The United States' alarming rise in coronavirus cases isn't due to increased testing — particularly not where cases have grown fastest over the last month.

Why it matters: The U.S. doesn't yet know what it looks like when a pandemic rages on relatively unchecked after the health system has become overwhelmed. It may be about to find out.

The impending retail apocalypse

Illustration: Eniola Odetunde/Axios

Because of the coronavirus and people's buying habits moving online, retail stores are closing everywhere — often for good.

Why it matters: Malls are going belly up. Familiar names like J.C. Penney, Neiman Marcus and J. Crew have filed for bankruptcy. Increasingly, Americans' shopping choices will boil down to a handful of internet Everything Stores and survival-of-the-fittest national chains.

Biden campaign using Instagram to mobilize celebrity supporters

Collins appears on the Build live interview series in November 2019. Photo: Gary Gershoff/Getty Images

The Biden campaign is launching a new initiative today that will draft Hollywood celebrities for Instagram Live chats with campaign officials and other Biden supporters.

Why it matters: The campaign, called #TeamJoeTalks, is an attempt to open up a new front on social media, drawing on celebrities’ Instagram followers to help find and motivate voters while large parts of the country remain locked down.