Photo: Alex Wong/Getty Images

President Trump deputized his chief economic adviser Larry Kudlow and his top trade negotiator Robert Lighthizer to take a fresh look at at re-entering Trans-Pacific Partnership negotiations, a source with knowledge of the meeting confirmed to Axios. Sen. Ben Sasse told reporters about the meeting earlier today.

Flashback: TPP was spearheaded by Barack Obama and designed in part to counter the rise of China. Trump signed an executive order pulling the U.S. out of the deal in January 2017, and the 11 remaining signatories came to a new agreement in March.

“The president is a guy who likes to blue-sky a lot and entertain a lot of different ideas, but he multiple times reaffirmed the point that TPP might be easier for us to join now … and that we might be the 12th party."
— Sen. Sasse

Worth noting: As Axios' Jonathan Swan has written, "The reason this White House is so bad at tamping down speculation is because the guy in the Oval Office quite likes all the gossip and is constantly floating ideas."

Go deeper: Japan sees the TPP as its key weapon in countering Chinese influence and, like other allies, was frustrated to see the U.S. leave the agreement.

Go deeper

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Data: Money.net; Chart: Axios Visuals

The S&P 500 nearly closed at an all-time high on Wednesday and remains poised to go from peak to trough to peak in less than half a year.

By the numbers: Since hitting its low on March 23, the S&P has risen about 50%, with more than 40 of its members doubling, according to Bloomberg. The $12 trillion dollars of share value that vanished in late March has almost completely returned.

Newsrooms abandoned as pandemic drags on

Illustration: Sarah Grillo/Axios

Facing enormous financial pressure and uncertainty around reopenings, media companies are giving up on their years-long building leases for more permanent work-from-home structures. Others are letting employees work remotely for the foreseeable future.

Why it matters: Real estate is often the most expensive asset that media companies own. And for companies that don't own their space, it's often the biggest expense.

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Illustration: Eniola Odetunde/Axios

Pinterest set out to be a bright spot in cutthroat Silicon Valley, but now stands to see its reputation forever tarnished by allegations of mistreatment and a toxic culture by women who held senior roles at the company.

Why it matters: Even a company known for progressive policy decisions and successfully combatting hateful and otherwise problematic content isn't immune to the systemic problems that have plagued many tech companies.