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Evan Vucci / AP

"Don't know which way Paris will go, but I've done all I can to advise directly to POTUS, through others in WH & via councils, that we remain," Elon Musk tweeted today. When asked what he'd do if Trump does withdraw the U.S., he replied, "Will have no choice but to depart councils in that case."

Why it matters: The Tesla CEO is on two different WH boards — the Manufacturing Jobs Initiative and the business advisory council. Many CEOs of major companies (from ExxonMobil to Tesla to Apple) have urged Trump to remain in the Paris deal, as they want to be part of the solution to the climate problems caused by fossil fuels and greenhouse gas emissions. Apple's Tim Cook reportedly called Trump this week encouraging him to remain, per Bloomberg.

Go deeper

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. 

46 mins 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.

Congress' chip-funding pause raises alarms

Illustration: Aïda Amer/Axios

Despite bipartisan support in the Senate, a plea by the Commerce Secretary and growing desperation from industry officials, Congress still can't get a key bill that funds the U.S. chip business over the finish line.

Why it matters: With the global chip shortage continuing to crimp the economy, the semiconductor industry has ramped up pressure for funding of U.S.-based manufacturing facilities as one remedy.