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.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

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.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

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

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

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

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

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

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

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

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Arriving passengers are waiting to be registered and tested at a temporary space on June 30, 2020, in Kashgar, China. Photo: David Liu/Getty Images

China's government on Thursday accused the Biden administration of hurting global trade after U.S. lawmakers this week supported restrictions on imports from China's Xinjiang region, AP reports.

Driving the news: Bipartisan legislation passed on Wednesday by the Senate would ban imports of products from China's Xinjiang region, where the ruling Communist Party is accused of holding more than 1 million members of mostly Muslim ethnic groups in detention camps, per AP.

  • On Tuesday, the State Department and five other federal agencies issued an updated advisory warning that businesses with supply chains and investments in Xinjiang run a "high risk" of violating U.S. laws on forced labor, Axios' Zach Basu reports.
  • China's government rejected accusations by the U.S. of forced labor in Xinjiang.

What they're saying: "The so-called human rights and forced labor issues in Xinjiang are completely inconsistent with the facts," Ministry of Commerce spokesperson, Gao Feng, said, per AP.

  • "The U.S. approach has seriously undermined the security and stability of the global industrial chain and supply chain," he said. "China firmly opposes it."

Go deeper

Biden claims "era of relentless war" is over in first UN speech

Photo: Eduardo Munoz/Pool/AFP via Getty Images

Addressing the UN General Assembly for the first time since taking office, President Biden laid out his vision for how the U.S. will confront what he characterized as a "decisive" next decade in human history.

Why it matters: In the face of unprecedented global challenges — the pandemic, climate change, rising authoritarianism — Biden made a case for multilateralism, democratic values, the rule of law and empathy for common struggles.

Felix Salmon, author of Capital
2 hours ago - Economy & Business

Maybe we can ignore inflation expectations

Illustration: Sarah Grillo/Axios

Just because we expect inflation to show up, doesn't mean it will. That's the message from an important new paper throwing cold water on a central tenet of monetary economics.

Why it matters: The Fed hikes interest rates when — and only when — it thinks inflation is otherwise going to be too high. That means it needs a formula to determine where it thinks inflation is going to be. But now a senior Fed economist is saying that the key ingredient in that formula "rests on extremely shaky foundations."

3 hours ago - Technology

Facebook: Metaverse won't "move fast and break things"

Illustration: Aïda Amer/Axios

Facebook on Monday said it will invest $50 million over two years in global research and program partners to ensure its metaverse products "are developed responsibly."

Why it matters: "It's almost the opposite of that now long-abandoned slogan of 'move fast and break things,'" Facebook's VP of global affairs Nick Clegg told Axios in an interview at The Atlantic Festival Monday.