Eric Gay / AP

NAFTA renegotiations will be Ross' top priority

During confirmation hearings Wednesday, Commerce Secretary-nominee Wilbur Ross told Senators that "NAFTA [renegotiation] is logically the first thing" his department will address if he is confirmed.

The Toronto Globe and Mail reports that Ross has already alerted Canadian officials of his intent to formally renegotiate the terms of NAFTA. Among other steps, Ross will seek to tighten rules on what products can cross borders duty-free based on how much content produced outside the trade zone those products contain.

A high-profile target of these negotiations will be auto companies with operations in Mexico, which often purchase inputs from China before selling end products to U.S. consumers.

CFPB sues student-loan giant Navient

The Consumer Financial Protection Bureau says it's suing the nation's largest servicer of student loans for pushing its customers into more expensive repayment options in order to cut down on paperwork and boost profits. Navient says that the CFPB gave it an ultimatum to settle by inaguration or get sued. It will fight the action in court, on the hope that a GOP-dominated Washington will defang the consumer watchdog.

Even cheaper than economy class

American Airlines is the latest major carrier to announce its "basic economy" tier that will provide fliers rock-bottom fares. The catch is that passengers will not be able to choose their seats or upgrade those seats regardless of their elite status, and will be allowed only one carry on to be stowed underneath the seat.

Delta Airlines rolled out a similar program late last year, and United Continental gave details of their forthcoming program in a call with analysts on Wednesday.

Go deeper

Bob Woodward: "I was not going to hide" my opinion on Trump

Bob Woodward didn't want to join Senate Republicans in privately condemning President Trump but declining to do so publicly, he told Jonathan Swan in an interview for "Axios on HBO."

Why it matters: Woodward has covered 9 presidents, but Trump is the first that Woodward explicitly described as "the wrong man for the job."

Watch the full Jonathan Swan interview with Bob Woodward

In the latest episode of "Axios on HBO," Jonathan Swan interviews Bob Woodward about his new book, "Rage," which was based on 19 interviews with President Trump.

3 hours ago - Science

3 dead and thousands evacuated as Northern California fires explode

A building at the Meadowood Napa Valley luxury resort burns after the Glass Fire moved through the area on September 28, 2020 in St. Helena, California. Photo: by Justin Sullivan/Getty Images

Three people have died in a wildfire in Northern California and tens of thousands were evacuated across the state, as firefighters contended with strong winds and dry conditions that saw blazes explode across the state on Monday.

Driving the news: Shasta County Sheriff Eric Magrini confirmed the deaths occurred as the Zogg Fire spread across 15,000 acres, forcing the evacuation of 1,200 people. More than for 5o,000 people, per AP.

Get Axios AM in your inbox

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

Please enter a valid email.

Subscription failed
Thank you for subscribing!