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!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

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!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

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!

Trump and Stoltenberg. Photo: Emmanuel Dunand/AFP/Getty Images

NATO Secretary-General Jens Stoltenberg told me he reassured Montenegro after President Trump publicly questioned whether it was worth it for the United States to defend the tiny NATO ally if an enemy attacked. "I have reassured Montenegro," Stoltenberg told me in an interview on Friday, "and I also know that the United States has clearly stated that they are fully committed to Article 5 and NATO and the collective defense."

Why this matters: NATO's foundational principle is that an attack on one member country is an attack on all. America's willingness to honor that commitment provides the security blanket that keeps the transatlantic alliance alive.

  • But in a July interview, Fox News host Tucker Carlson asked Trump why his son should "go to Montenegro to defend it from attack?"
  • "I understand what you're saying; I've asked the same question," Trump replied. "You know, Montenegro is a tiny country with very strong people. ... They are very aggressive people. They may get aggressive, and congratulations, you’re in World War III."
  • Trump was criticized at the time for — perhaps unwittingly — echoing a Vladimir Putin talking point.

I asked Stoltenberg whether he agreed with Trump's assessment that Montenegrins are "very aggressive people."

  • The NATO leader smiled wryly. "Montenegro is a very welcome ally of NATO," he responded.
  • "I've been in Montenegro many times ... when I was a child ... we went to Montenegro many times, and I have a good relationship to many Montenegrins."

You can read the rest of my interview with Stoltenberg here. It's a case study in how carefully the NATO leader chooses his words so as not to offend Trump.

The highlights:

  • Stoltenberg on Trump: "I fundamentally believe that he is committed to NATO because that's what we see when I see actions on the ground by the United States."
  • On whether he was worried about NATO members — such as Poland, Hungary and Turkey — sliding toward illiberalism, Stoltenberg said his hands were tied, given that NATO doesn't have a mechanism for punishing wayward members.
  • I asked him whether a Russian cyberattack on a NATO member would trigger Article 5 (NATO's collective defense provision). "Not automatically.  It depends on the character of the cyberattack," he said. "We will never be specific on when we trigger Article 5."
  • I also challenged Stoltenberg on whether Trump deserves as much credit as he has given him for NATO members increasing their defense budgets. He said Trump does deserve a lot of credit.

Go deeper

NYC to impose vaccine mandate on private employers

New York City Mayor Bill de Blasio (D) announced a new COVID vaccine mandate for private companies during a Monday interview with MSNBC's "Morning Joe."

Why it matters: De Blasio said it was a "first-in-the-nation measure" and will go into effect starting Dec. 27.

D.C.-Beijing tensions are shifting markets

Illustration: Aïda Amer/Axios

U.S. markets stand to lose $2 trillion in value if D.C. and Beijing drift further apart.

Why it matters: Political chasms are showing up in new securities regulations that put companies and investors in a bind. The rules are also another reflection of how much relations between the world’s largest economies have cooled, even as they remain economically interdependent. 

4 hours ago - Health
Axios Investigates

Documents reveal the secrecy of America's drug pricing matrix

Illustration: Aïda Amer/Axios

American businesses spend hundreds of billions of dollars a year on prescription drugs, and the bills keep getting bigger. But some of the companies promising to help rein in those costs prevent employers from looking under the hood.

Why it matters: Documents provided to Axios reveal a new layer of secrecy within the maze of American drug pricing — one in which firms that manage drug coverage for hundreds of employers, representing millions of workers, obscure the details of their work and make it difficult to figure out whether they're actually providing a good deal.