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President Donald Trump and China’s President Xi Jinping. Photo: Nicolas Asfouri/AFP/Getty Images

A delegation from China is set to arrive in Washington this week for trade talks despite President Trump's new threat to increase tariffs on $200 billion of Chinese imports from 10% to 25% on Friday, CNBC reports.

The big picture: A source with knowledge of the situation told Axios' Jonathan Swan that the Chinese had been backing off of agreements the U.S. negotiating team believed they had already made, injecting heightened uncertainty into what was supposed to be the last stretch of trade talks. Sources with knowledge of the talks told CNBC that it’s unclear whether Vice Premier Liu He, a crucial figure in the trade talks, would lead the group, which will likely be smaller than originally planned.

Go deeper: Trump ratchets up U.S.-China trade war with new tariff threat

Go deeper

National Guard chief says it took 3 hours for Pentagon to grant Jan. 6 request

Photo: Stefani Reynolds/Bloomberg via Getty Images

William Walker, commanding general of the D.C. National Guard, will testify Wednesday that it took three hours and 19 minutes for Pentagon leadership to approve a request for National Guard assistance during the Jan. 6 Capitol attack, according to his prepared remarks.

Why it matters: The timeline over when National Guard requests were made and granted has been a key point of contention in congressional hearings examining the security failures surrounding the Capitol riots.

10 mins ago - World

International Criminal Court opens Israel-Palestine war crimes probe

Israeli Prime Minister Benjamin Netnayahu has strongly objected to the investigation. Photo: Lior Mizrahi/Getty Images

International Criminal Court (ICC) prosecutor Fatou Bensouda on Wednesday announced her intention to open an investigation into crimes allegedly committed in the Palestinian territories since 2014.

Why it matters: The investigation is expected to consider possible war crimes by Israel and Hamas during the 2014 war in Gaza, as well as the construction of West Bank settlements by Israel. It could sharply increase tensions between Israel, which fiercely opposes the probe, and Palestinian leaders, who requested it.

Ben Geman, author of Generate
48 mins ago - Energy & Environment

Exxon says it's well-positioned amid investor pressure

Illustration: Aïda Amer/Axios

ExxonMobil said Wednesday that its oil-and-gas development plans will create good returns even at modest oil prices as the company looks to win back investor confidence after several rocky years.

Driving the news: The company, just ahead of an investor presentation this morning, said its investments are designed to generate returns of over 30% and touted its spending reductions.

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