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Britain's Prime Minister Boris Johnson and President Donald Trump at the G7 summit in Biarritz, France, Sunday. Photo: Stefan Rousseau/Pool/Getty Images

President Donald Trump promised Britain Sunday a "very big trade deal" with the U.S. — "bigger than we’ve ever had with the U.K." — and declared British Prime Minister Boris Johnson the "right man" to oversee Brexit, Reuters reports.

The big picture: Trump said Britain leaving the EU would be like losing "an anchor round the ankle," per the BBC. But as the Oct. 31 Brexit deadline looms, it is still unclear whether the United Kingdom can leave the European Union with an agreement in place or, indeed, whether the U.K. will leave the EU. Johnson has vowed it will happen "do or die," but experts warn that leaving without a deal could have catastrophic consequences.

  • The U.K. is seeking a comprehensive free trade deal with the U.S. post-Brexit, Reuters notes. U.S. officials including Trump’s national security adviser John Bolton envision free-trade deals ahead of a comprehensive trade agreement.
  • Johnson was meeting with European Council President Donald Tusk Sunday. He's expected to tell Tusk the U.K. would only pay about £9 billion ($11 billion) of the £39 billion ($48 billion) liability agreed to by former U.K. Prime Minister Theresa May, according to Sky News.

Yes, but: House Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Chuck Schumer (D-N.Y.) have ruled out a trade deal with the U.K. if Brexit creates a hard border with Ireland and violates the Good Friday Agreement, which helped bring peace to Northern Ireland in the 1990s. Congress must approve all U.S. trade deals.

Go deeper: Everything you need to know about Brexit

Go deeper

Dion Rabouin, author of Markets
51 mins ago - Economy & Business

How the tech stock selloff is hurting average Americans

Expand chart
Data: FactSet; Chart: Axios Visuals

Investors holding the ultra-popular Nasdaq 100 and S&P 500 index funds have been hard hit over the last two weeks as tech shares have been roiled by rising U.S. Treasury yields.

Why it matters: Even though the economy is growing and many U.S. stocks are performing well, most investors are seeing their wealth decline because major indexes no longer reflect the overall economy or even a broad swath of public companies — they reflect the performance of a few of the country's biggest companies.

1 hour ago - World

UN rights chief: At least 54 killed, 1,700 detained since Myanmar coup

A Feb. 7 protest in Yangon, Myanmar. Photo: Getty Images/Getty Images

Police and military officers in Myanmar have killed at least 54 people during anti-coup protests, while "arbitrarily" detaining over 1,700 people, United Nations Human Rights Commissioner Michelle Bachelet said Thursday.

Why it matters: Protesters have demonstrating across Myanmar for nearly a month, demanding the restoration of democracy after the country's military leaders overthrew its democratically elected government on Feb. 1.

3 hours ago - Health

The danger of a fourth wave

Expand chart
Data: The COVID Tracking Project, state health departments; Note: Anomalous Arkansas case data from Feb. 28 was not included in the calculated change; Map: Andrew Witherspoon/Axios

The U.S. may be on the verge of another surge in coronavirus cases, despite weeks of good news.

The big picture: Nationwide, progress against the virus has stalled. And some states are ditching their most important public safety measures even as their outbreaks are getting worse.