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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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A ship carrying Chinese exports. Photo: VCG via Getty Images

"Companies in technology, investment and other industries now say that the measures the administration is taking to help them may actually end up doing irreparable harm to supply chains they have built up over decades," the N.Y. Times' Ana Swanson reports.

The bottom line: "Any American company that wants to be a global player cannot afford to lose access to China’s growing market, executives say."

  • "Technology companies argue that the restrictive measures the administration is taking to help protect them could end up penalizing American manufacturing, raising costs and making their companies less competitive globally."
  • "And industries most vulnerable to retaliation, like agriculture, are protesting about losing valuable export opportunities."

Go deeper

Netflix tops 200 million global subscribers

Illustration: Rebecca Zisser/Axios

Netflix said that it added another 8.5 million global subscribers last quarter, bringing its total number of paid subscribers globally to more than 200 million.

The big picture: Positive fourth quarter results show Netflix's resiliency, despite increased competition and pandemic-related production headwinds.

Janet Yellen plays down debt, tax hike concerns in confirmation hearing

Treasury Secretary nominee Janet Yellen at an event in December. (Photo: Alex Wong via Getty Images)

Janet Yellen, Biden's pick to lead the Treasury Department, pushed back against two key concerns from Republican senators at her confirmation hearing on Tuesday: the country's debt and the incoming administration's plans to eventually raise taxes.

Driving the news: Yellen — who's expected to win confirmation — said spending big now will prevent the U.S. from having to dig out of a deeper hole later. She also said the Biden administration's priority right now is coronavirus relief, not raising taxes.

Trump gives farewell address: "We did what we came here to do"

Photo: Mandel Ngan/AFP via Getty Images

President Trump gave a farewell video address on Tuesday, saying that his administration "did what we came here to do — and so much more."

Why it matters, via Axios' Alayna Treene: The address is very different from the Trump we've seen in his final weeks as president — one who has refused to accept his loss, who peddled conspiracy theories that fueled the attack on the Capitol, and who is boycotting his successor's inauguration. 

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