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President Trump slammed American allies in Europe on trade, telling Fox News' Maria Bartiromo during an exclusive interview on Sunday morning, "The European Union is possibly as bad as China, just smaller. It's terrible what they do to us."

Why it matters: It's conventional wisdom among economists that the U.S. needs allies' support to take on a powerful — and growing — China.

Trump also said that the White House didn't put restrictions on Chinese companies investing in U.S. tech because he "didn't like pinpointing China" and "they are not the only" country stealing U.S. intellectual property.

"I get along with China. I like the president. President for life, we can call him the king, right? I like the president. I didn't like pinpointing China. I don't think it's fair. They are not the only one. Now, they are bigger and stronger, and frankly they do it more, and they're probably a bigger violator, but it is other countries, too. I wanted to go worldwide ... So you mean China can't do it but other countries can?"

Flashback: Treasury Secretary Steven Mnuchin said the same thing when it was first reported that the White House was considering restrictions on Chinese firms — a move the Trump administration explicitly proposed in May.

The big picture: Trump punted the issue of Chinese investment restrictions to Congress last week, announcing that he would endorse a bipartisan piece of legislation called FIRRMA, which is intended to strengthen the Committee on Foreign Investment in the United States, an existing body that reviews foreign investments in the U.S.

Go deeper:

Go deeper

Mike Allen, author of AM
2 hours ago - Politics & Policy

GOP senator calls for senility test for aging leaders

Photo: "Axios on HBO"

Sen. Bill Cassidy (R-La.), a physician, told me during an "Axios on HBO" interview that he favors cognition tests for aging leaders of all three branches of government.

Why it matters: Wisdom comes with age. But science also shows that we lose something. And much of the world is now run by old people — including President Biden, 78 ... Speaker Pelosi, 81 ...  Senate Majority Leader Chuck Schumer, 70 ... and Senate Minority Leader Mitch McConnell, 79.

Ina Fried, author of Login
2 hours ago - Technology

Intel CEO blames predecessors for manufacturing woes

Axios on HBO

When it comes to Intel's recent manufacturing problems, Intel CEO Pat Gelsinger places the blame squarely on his predecessors — many of whom he notes were not engineers deeply steeped in chip technology, as he is.

Why it matters: Gelsinger has announced a broad plan to reinvigorate Intel by doubling down on manufacturing. However, the strategy depends on the venerable semiconductor giant recovering from recent stumbles.

Marketing to Generation Alpha

Illustration: Rae Cook/Axios

Marketers are pouring money into figuring out the tastes and habits of Generation Alpha — kids born from 2010 through 2024 — who are unprecedented in the extent they're growing up online.

Why it matters: They're weaned on TikTok, Amazon and in-app purchases. They're learning from their millennial parents to hold brands accountable for causes like social justice and sustainability. And no prior age cohort will be as large in size or marketing power.