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!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Chinese President Xi Jinping. Photo: Naohiko Hatta-Pool/Getty Images

Despite President Trump's warning not to retaliate to the administration's new tariffs on Chinese goods, China's Commerce Ministry announced that the country will be implementing their own tariffs "of the same scale and the same strength" on U.S. imports in response to announcement.

Be smart, per Axios' Jonathan Swan: The $50 billion in tariffs the U.S. imposed on China is relatively minor, and Trump gave Chinese President Xi Jinping a major concession on ZTE. Xi made a personal request to Trump when it looked like ZTE could collapse as a result of U.S. actions, and the Trump administration gave the company effectively a slap on the wrist, allowing it to stay in business.

Key takeaways from the Ministry's statement:

  • China will immediately introduce taxation measures of the same scale and same strength immediately.
  • Previous trade agreements between China and the U.S. are “no longer valid.”
  • “We deeply regret that the United States has disregarded the consensus it has formed and is fickle, provoking a trade war.”
  • China wants other countries to do the same to the U.S. to “put an end to this outdated and regressive behavior.”
  • The U.S. has “damaging bilateral interests but also undermining the world trade order.”

Go deeper

The ransomware pandemic

Illustration: Aïda Amer/Axios

"We are on the cusp of a global pandemic," said Christopher Krebs, the first director of the Cybersecurity and Infrastructure Security Agency, in Congressional testimony last week. The virus causing the pandemic isn't biological, however. It's software.

Why it matters: Crippling a major U.S. oil pipeline this weekend initially looked like an act of war — but it's now looking like an increasingly normal crime, bought off-the-shelf from a "ransomware as a service" provider known as DarkSide.

Hollywood's wakeup call

Illustration: Sarah Grillo/Axios

Decades of failures around diversity and inclusion finally caught up with Hollywood Monday, when NBC made the unprecedented decision not to air the Golden Globes next year following backlash against the group that hosts the show.

Why it matters: NBC has been airing the event exclusively for decades. Its decision to pull back speaks to how big the backlash against the Hollywood Foreign Press Association (HFPA) has become.

Erica Pandey, author of @Work
53 mins ago - Health

There's a frenzy for summer school, but it may not be enough

Illustration: Annelise Capossela/Axios

Kids across the country have fallen behind after more than a year of interrupted, unstable and inequitable virtual school. And they'll need to go to summer school to catch up.

Yes, but: It's not that easy. Kids are demoralized, teachers are exhausted, and it'll take more than one summer to fix the pandemic's damage.

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!