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Illustration: Eniola Odetunde/Axios

Ahead of President Trump’s move this week to complete America’s withdrawal from the Paris Climate Agreement, the U.S. Chamber of Commerce quietly updated its position to support it.

Why it matters: This is the starkest reversal from the Chamber, America’s most powerful business lobby group, since it began pursuing a broader shift months ago to more readily acknowledge and engage on climate change.

The intrigue: The Chamber helped commission a controversial study in March 2017 concluding the Obama administration’s commitment to the Paris deal would cost the U.S. economy $3 trillion and 6.5 million jobs. Trump cited that study, inaccurately in some ways, a few months later when he announced his intent to withdraw from the deal.

Where it stands: The Chamber’s climate-change statement now includes the following clause, emphasis added, finishing this sentence: “Greater collaboration between governments and businesses is essential to build the best models to tackle climate challenges, which is why the Chamber supports U.S. participation in the Paris Agreement.”

Flashback: Chamber officials have hinted at this Paris reversal before, including in a congressional hearing in April and a Politico article from August. But this is the first time the powerful lobby group is making it an official part of its mission statement.

For the record: Chamber spokesman Matt Letourneau said the change was made to be clearer ahead of Nov. 4, which began the one-year clock for the U.S. government to officially get out of the 2015 accord.

  • He also said the Chamber has expressed concerns about the Obama administration’s commitment to the Paris deal, but not the deal itself.

The bottom line: That distinction, however, is one the group has only emphasized since the Chamber’s broader shift on climate change started this year.

Go deeper

Prosecutors begin closing arguments in Chauvin trial

Steve Schleicher, an attorney for the prosecution in Derek Chauvin's trial, began closing arguments on Monday by describing in detail George Floyd's last moments — crying out for help and surrounded by strangers, as Chauvin pressed his knee into Floyd for nine minutes and 29 seconds.

Why it matters: The jury's verdict in Chauvin's murder trial, seen by advocates as one of the most crucial civil rights cases in decades, will reverberate across the country and have major implications in the fight for racial justice.

Kendall Baker, author of Sports
3 hours ago - Sports

European soccer is at war

Liverpool celebrating its 2019 Champions League victory. Photo: Nigel Roddis/Getty Images

Europe's biggest soccer clubs have established The Super League, a new midweek tournament that would compete with — and threaten the very existence of — the Champions League.

Why it matters: This new league, set to start in 2023, "would bring about the most significant restructuring of elite European soccer since the 1950s, and could herald the largest transfer of wealth to a small set of teams in modern sports history," writes NYT's Tariq Panja.

Dion Rabouin, author of Markets
4 hours ago - Economy & Business

2021's expected earnings blowout begins

JPMorgan CEO Jamie Dimon. Photo: Mark Kauzlarich/Bloomberg via Getty Images

First-quarter earnings so far have been very strong, outpacing even the rosy expectations from Wall Street and that's a trend that's expected to continue for all of 2021. S&P 500 companies are on pace for one of the best quarters of positive earnings surprises on record, according to FactSet.

Why it matters: The results show that not only has the earnings recession ended for U.S. companies, but firms are performing better than expected and the economy may be justifying all the hype.

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