Photo: Cheriss May/NurPhoto via Getty Images

With #TrumpRecession trending on Twitter, a source close to President Trump told Axios, "I’m very worried about the latest economic data. A lot of us are concerned. Without the narrative on the economy, he can't win."

The big picture: A senior administration official said the administration was getting a lot of blowback from retailers who were worried about the China tariffs coming in September. The delay until Dec. 15, announced this week, was to stave off these concerns, the source said.

  • When Commerce Secretary Wilbur Ross said on CNBC it was to help consumers for Christmas, he let the cat out of the bag: Tariffs hurt consumers.
  • If Trump were correct that China pays the entirety of his tariffs, as he has repeatedly claimed, why would the commerce secretary say the decision to delay tariffs was made to protect U.S. consumers for holiday shopping?

The backdrop to all of this is that Trump knows he needs a strong economic run into November 2020.

  • His team is worried about polling data from Michigan, Pennsylvania and Wisconsin, amid the economic signals.
  • That's why Trump is getting even more agitated about the Federal Reserve. As one former senior White House official put it: "He’s running out of tools" to juice the economy.
  • Tax reform is in the rear view mirror. Infrastructure isn’t happening. What else has he got besides a possible China trade deal?

The bottom line: A former senior White House official told me, "Continued economic expansion is not a given. Most of the benefits from Trump’s tax cuts and regulatory relief have already taken effect."

  • "Rather than attack the global system that has produced so much prosperity for America, Trump would do well to harness its potential for economic growth."
  • "The consequences of further isolating ourselves from the world may turn out to be quite severe."

Go deeper: The synchronized global slump

Go deeper

Updated 18 mins ago - Health

5 states set single-day coronavirus case records last week

Data: Compiled by Axios; Map: Danielle Alberti/Axios

Five states set new highs last week for coronavirus infections recorded in a single day, according to the COVID Tracking Project and state health departments. Only one state — North Dakota — surpassed a record set the previous week.

Why it matters: This is the lowest number of states to see dramatic single-day increases since Axios began tracking weekly highs in June, and marks a continued decrease from late July.

California judge orders Uber, Lyft to reclassify drivers as employees

Photo: ROBYN BECK/AFP via Getty Images

Uber and Lyft must reclassify their California drivers as employees under a preliminary injunction granted Monday by a San Francisco judge.

Why it matters: The ride-hailing companies, along with other gig economy firms, are resisting classifying their drivers as employees, which labor advocates say would give the workers greater benefits and rights. A new California law codified stricter requirements before companies can classify workers as contractors.

53 mins ago - Health

The winter from hell

Photo: Stan Grossfeld/The Boston Globe via Getty Images

The hope and promise of May is gone, replaced by the realization that America is in for another miserable year of COVID-19.

Why it matters: Another winter — and another flu season — is on the way as the U.S. engages in a whack-a-mole strategy that slows down the virus in one region, but sees it flaring up in another.