Updated Jun 8, 2018

Trump vs. Macron and Trudeau

President Trump. Photo: Mark Wilson/Getty Images. PM Trudeau and President Macron. Photo: John van Hasselt/Corbis via Getty Images

President Trump is facing off with two close allies — Canadian Prime Minister Justin Trudeau and French President Emmanuel Macron.

The big picture: Since Trump announced tariffs on the two countries, both leaders have spoken out against the president and announced retaliatory tariffs against the U.S. Trudeau and Macron met this week ahead of the G7 summit to strengthen their relationship, and took turns criticizing Trump's trade moves at a joint press conference.

Trump

He then followed up with a series of tweets calling Canada's prime minister "indignant" and claiming the country charges the U.S. "up to 300% on dairy — hurting our Farmers, killing our Agriculture!" Later, he called on both the E.U. and Canada to take down "tariffs & barriers" adding that if they fail to do so, the U.S. "will more than match you!"

Macron
Trudeau

"This is not about the American people. We have to believe that at some point their common sense will prevail. But we see no sign of that in this action today by the U.S. administration."

  • Trudeau said in the joint press conference with Macron on Thursday: "This is ridiculous to think they could be a threat to national security. In fact, we are the closest friends the United States has had in quite some time."

Go deeper: Trudeau and Macron team up on Trump

Go deeper

Private equity returns fell behind stocks over the past decade

Illustration: Aïda Amer/Axios

U.S. private equity returns fell just below S&P 500 returns for the 10-year period ending last June, according to a report released Monday morning by Bain & Company.

Why it matters: Private equity markets itself as beating public markets over long-term time horizons, and usually providing an illiquidity premium to boot. These new performance figures not only dent such claims, but provide fresh ammunition to critics of public pension investment in private equity funds.

Why Apple may move to open iOS

Photo illustration: Jakub Porzycki/NurPhoto via Getty Images

Apple may finally allow iPhone owners to set email or browsing apps other than Apple's own as their preferred defaults, according to a Bloomberg report from last week.

The big picture: Customers have long clamored for the ability to choose their preferred apps, and now Apple, like other big tech companies, finds itself under increased scrutiny over anything perceived as anticompetitive.