New York Attorney General Letitia James is accusing the Trump administration of weaponizing the government after a federal agency referred her for potential criminal prosecution for alleged mortgage fraud.
The Trump administration asked the Internal Revenue Service to rescind Harvard's tax-exempt status, multipleoutlets reported Wednesday, citing anonymous sources.
Why it matters: The Trump administration is escalating its retaliation against the Ivy League university after it refused to comply with the administration's list of demands.
Temu and Shein plan to raise prices as they grapple with President Trump's move to close a trade loophole on cheap Chinese goods.
Why it matters: Imported shipments valued at less than $800 had enjoyed the "de minimis" exemption from U.S. tariffs, enabling foreign online retailers like Temu and Shein to sell super-cheap items to American consumers.
The nation's home builders are less than thrilled with the Trump economy thus far.
Why it matters: The headwinds for the companies that build single-family homes are multiplying, a bad sign for a country facing a shortage of affordable homes.
Federal Reserve chair Jerome Powell said on Wednesday that President Trump's tariffs would likely lead to a faster rise in prices and weigh on economic growth.
Why it matters: Trump campaigned on lowering prices for inflation-weary consumers, but Powell is the latest to suggest Trump's trade war might do the opposite.
Everybody talks about the death of auto shows, but a few international automakers are still making a splash at this week's annual showcase in New York.
Genesis' X Gran Equator is the South Korean luxury brand's first adventure vehicle concept, combining its typical elegance with the rugged spirit of overlanding. (They're looking at you, Land Rover!)
Other highlights include:
2026 Subaru Trailseeker, the Japanese brand's second electric SUV, with more cargo space than the Solterra and 260 miles of battery range.
2026 Kia EV4, a compact addition to Kia's expanding EV lineup, with up to 330 miles of range.
The U.S. has been investing feverishly in recent years to create a domestic supply chain for electric vehicles and reduce its dependence on foreign countries, but it's far from complete.
Why it matters: Despite more than $130 billion in EV investments in the U.S., big gaps in the supply chain — mostly in mining and refining — have left America vulnerable to an escalating trade war with China.
Retail sales surged 1.4% in March — the biggest monthly jump in two years after back-to-back months of weak consumer spending, the Commerce Department said on Wednesday.
Why it matters: Economists say consumers rushed to make purchases before Trump's broadest tariffs took effect and potentially raised prices for goods.
Futureverse has acquired Candy Digital, an NFT startup with partners like Major League Baseball, Netflix and DC Comics, executives exclusively tell Axios.
Why it matters: The four-year-old startup, which emerged in the NFT boom times, has found a home as part of a larger metaverse company.
There's probably room for the EU to buy even more U.S. oil and gas, but the $350 billion target President Trump floated to bargain down new tariffs would be a heavy lift.
Why it matters: Trump sees U.S. fossil fuels as a negotiating point with countries in Europe and Asia — a merger of his trade and "energy dominance" agendas.
Texas is America's top exporter to China, and Houston's 38th Congressional District led all U.S. districts in goods exports to China in 2023, according to the U.S.-China Business Council.
Why it matters: Those trade ties are now caught in a fast-escalating trade war, with billions of dollars and thousands of jobs at stake.
Scout AI co-foundersColby Adcock and Collin Otis want to, in their words, make large robotic armies a reality for the good guys.
"There's a very big white space for somebody to be the AGI brain for defense robots," Adcock told Axios in a recent conversation.
Why it matters: Scout AI emerged from stealth today with $15 million in funding and Pentagon commitments in its back pocket. It also unveiled a ground vehicle (G01) and aerial drone (A01) fueled by Fury, its marquee product, a vision-language-action foundation model.
Beyond tariffs and court battles over Trump policies, two pieces of White House palace intrigue emerged Tuesday:
Defense Secretary Pete Hegseth suspended two top Pentagon officials, Dan Caldwell and Darin Selnick, as part of an investigation into who leaked word of a planned top-secret briefing on China for Elon Musk.
Axios learned that Musk or Hegseth didn't just decide to call off that briefing after the leak. President Trump himself ordered staffers to kill it.
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