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.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
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.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
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
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
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
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
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
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Shizuo Kambayashi / AP
Trump throws cold water on border adjustment
The president-elect tipped his hand on tax reform, saying in an interview with the Wall Street Journal that he "doesn't love" border adjustment because it's "too complicated."
Border adjustment would raise taxes on corporate importers and lower them on exporters. Because the U.S. imports more than it exports, this process would raise revenue, allowing for overall rate reductions that benefit firms that locate production at home.
The president-elect hasn't proposed any alternatives, however, to an idea that's becoming increasingly popular with Congressional Republicans, precisely because border adjustment is designed to achieve the purported goals of the Trump campaign.
Theresa May will spell out Brexit
The British Prime Minister is expected to provide details today of the British government's plans for negotiating an exit from the European Union. The Pound fell by more than 1% against the dollar Monday, in anticipation that May's strategy will give up preferential treatment for British exporters in Europe for the right to block European emigration to the U.K.
What we're watching: All eyes are on Britain's prime minister, and how she will describe plans for the U.K's post-EU trade policy. Market's will also be attuned to the president-elect's reaction to the speech, and whether he further signals his plans for changes to U.S. trade or tax policy.
China comes to OPEC's rescue
Not only are the Chinese the world's largest importer of oil, but they'll need to import even more of it as its own energy exploration industry continues to pull back on domestic production.
China's oil output fell by more than 6% last year, and the The International Energy Agency predicts significant declines again this year as China's aging oil fields become less cost effective to exploit. Those declines roughly match what a country like Iraq has taken off the market, boosting the impact of those production cuts.