Photo: Alex Wong/Getty Images

A former U.S. trade negotiator, Jeff Moon, told the Washington Post that the belief that China will cave and make a deal with the U.S. is "a massive miscalculation."

The big picture: President Trump said in a tweet Thursday that China is "under pressure to make a deal with us," while their markets "are collapsing." But analysts note that the volatility of the Chinese stock market doesn't impact the country like it would the U.S. Economist Andrew Polk told the Post, "Trump has less leverage than he thinks," because while the Chinese economy "has its own issues...it's not about to blow up."

Go deeper: Axios' Steve LeVine reported in August that the trade war with China is likely to last "well into the second half of next year and perhaps beyond."

Go deeper

Updated 9 mins ago - Politics & Policy

Trump whisked out of press briefing after shooting outside White House

President Trump was escorted out of a coronavirus press briefing by a Secret Service agent on Monday after law enforcement reportedly shot an armed suspect outside of the White House.

What's new: The male suspect and a Secret Service officer were transported to a local hospital after the incident, the agency tweeted at 7:57 p.m. The White House complex was not breached, per the Secret Service.

Updated 34 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 7:30 p.m. ET: 19,971,615 — Total deaths: 733,103 — Total recoveries — 12,200,847Map.
  2. U.S.: Total confirmed cases as of 7:30 p.m. ET: 5,079,941 — Total deaths: 163,331 — Total recoveries: 1,670,755 — Total tests: 62,513,174Map.
  3. Politics: Trump claims he would have not called for Obama to resign over 160,000 virus deathsHouse will not hold votes until Sept. 14 unless stimulus deal is reached.
  4. Business: Richer Americans are more comfortable eating out.
  5. Public health: A dual coronavirus and flu threat is set to deliver a winter from hellAt least 48 local public health leaders have quit or been fired during pandemic.
  6. Sports: The cost of kids losing gym class — College football is on the brink.
  7. World: Europe's CDC recommends new restrictions amid "true resurgence in cases."

Trump says G7 summit will be delayed until after the election

President Trump told reporters on Monday that he wants to delay the G7 summit until after November's election and implied that the decision had already been made.

The big picture: Plans for the summit have already been scrapped multiple times, with proposed venues moving from the Trump National Doral resort in Miami to Camp David. In May, Trump postponed the in-person event in Washington, D.C. to September.