Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Japanese Prime Minister Shinzo Abe and Chinese President Xi Jinping. Photo: Xinhua/Lan Hongguang via Getty Images

Ministers representing 16 Asian-Pacific countries — including China, India, Australia and Japan — that make up a third of the global economy and half of the world's population met in Tokyo Sunday to discuss forming the world's largest trading bloc, reports Bloomberg.

Why it matters: These discussions come as President Trump is alienating allies and adversaries alike with tariffs and threats of an all-out global trade war. Trump's moves have also fostered an unlikely friendship between Asian giants China and Japan as the two hedge against uncertain U.S. foreign policy.

"The path toward a year-end agreement is now clearer ... As protectionism concerns increase globally, it’s important that the Asian region flies the flag of free trade."
— Hiroshige Seko, Japan’s trade minister

The details: Bloomberg reports that the countries' leaders were hopeful that a deal could be signed by the end of the year. The full list of nations — called the Regional Comprehensive Economic Partnership — includes Australia, China, India, Japan, South Korea, New Zealand. Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

Go deeper

Retail sales flat in April after huge surge in March

Illustration: Aïda Amer/Axios

April retail sales in the U.S. were unchanged from March, which saw a surge revised up to 10.7%, according to the latest Commerce Department report published Friday.

Why it matters: The U.S. has been entering a period of growing optimism in the wake of the vaccine rollout, falling new COVID-19 cases and deaths, and a slowly recovering labor market. Retail sales were up 51% year-over-year compared to April 2020.

Policy group lays groundwork for "net negative" emissions tech

Illustration: Aïda Amer/Axios

A new policy roadmap provides Congress and the White House with ways to support the growth of methods to pull carbon dioxide from the atmosphere using everything from existing forests to direct air capture machines.

Driving the news: Recent climate studies, such as the UN Intergovernmental Panel on Climate Change's 1.5-degree report, have pointed to the clear need for society to pursue strategies for driving carbon emissions into negative territory by the latter half of the century.

New CDC mask guidance tests risk tolerance

Illustration: Aïda Amer/Axios

The CDC announced Thursday that fully vaccinated people no longer need to wear masks indoors.

Why it matters: The U.S. is entering a new stage in the pandemic where the public — vaccinated or not — will need to assess its own risk tolerance in shared spaces.