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Farmer John Duffy loads soybeans from his grain bin onto a truck before taking them to a grain elevator. Photo: Scott Olson via Getty Images

European imports of American soybeans spiked 283% in the last year, and the United States' share of total EU soybean imports reached 37% last month, compared to just 9% in July 2017, per a new report from the European Commission.

Why it matters: The dramatic jump suggests imports were already on the rise before President Trump and European Commission President Jean-Claude Juncker reached a handshake agreement on trade last week. According to Bloomberg, this is likely a result of the retaliatory tariffs China slapped on U.S. soybeans last month, which shook up global markets and opened up the EU as a logical trade target.

Go deeper

Dion Rabouin, author of Markets
34 mins ago - Economy & Business

Biden's inflation danger

Illustration: Sarah Grillo/Axios

President-elect Joe Biden's $1.9 trillion stimulus proposal has economists and bullish market analysts revising their U.S. growth expectations higher, predicting a reflation of the economy in 2021 and possibly more booming returns for risk assets.

Yes, but: Others are warning that what's expected to be reflation could actually show up as inflation, a much less welcome phenomenon.

Ina Fried, author of Login
2 hours ago - Technology

CES was largely irrelevant this year

Illustration: Sarah Grillo/Axios

Forced online by the pandemic and overshadowed by the attack on the Capitol, the 2021 edition of CES was mostly an afterthought as media's attention focused elsewhere.

Why it matters: The consumer electronics trade show is the cornerstone event for the Consumer Technology Association and Las Vegas has been the traditional early-January gathering place for the tech industry.

The FBI is tracing a digital trail to Capitol rioters

Illustration: Sarah Grillo

Capitol rioters, eager to share proof of their efforts with other extremists online, have so far left a digital footprint of at least 140,000 images that is making it easier for federal law enforcement officials to capture and arrest them.

The big picture: Law enforcement's use of digital tracing isn't new, and has long been at the center of fierce battles over privacy and civil liberties. The Capitol siege is opening a fresh front in that debate.

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