May 26, 2017

Gary Cohn cleans up Trump's Germany comments

Andrew Harnik / AP

Just before the end of his first overseas trip, President Trump made a testy remark about Germany and their trade deals. "The Germans are bad, very bad," Trump said, according to German news magazine Der Spiegel. "See the millions of cars they sell in the U.S., terrible. We will stop this."

This comment sparked some tension between Trump and his EU counterparts. Per the White House pool report, WH Chief Economic Adviser Gary Cohn stepped in to clean up Trump's comments. "He said they're very bad on trade but he doesn't have a problem with Germany," Cohn told POLITICO's Tara Palmeri. "He said his dad is from Germany. He said 'I don't have a problem with Germany, I have a problem with German trade.'"

Cohn's comments on the G7 Summit:

  • "I'm not sure whats going to happen. The president is very open to hearing the views of the other leaders."
  • "He was very clear and transparent on what his point of view has been. We want to have an open dialogue. It's intimate, it's a small group, so you don't know where it's going to go."
  • The Trump effect: "If you know how it's going to go then what's the point?"

Cohn's comments on the Paris agreement:

"I think he's leaning to understand the European position. Look as you know from the U.S., there's very strong views on both sides. Both sides are running ads. So he knows that in the U.S. there's very strong opinions on both sides but he also knows that Paris has important meaning to many of the European leaders. And he wants to clearly hear what the European leaders have to say."

Go deeper

China tries to contain coronavirus, as Apple warns of earnings impact

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's NHC; Note: China refers to mainland China and the Diamond Princess is the cruise ship offshore Yokohama, Japan. Map: Danielle Alberti/Axios

As China pushes to contain the spread of the novel coronavirus — placing around 780 million people under travel restrictions, per CNN — the economic repercussions continue to be felt globally as companies like Apple warn of the impact from the lack of manufacturing and consumer demand in China.

The big picture: COVID-19 has now killed at least 1,775 people and infected more than 70,000 others, mostly in mainland China. There are some signs that new cases are growing at a slower rate now, although the World Health Organization said Monday it's "too early to tell" if this will continue.

Go deeperArrowUpdated 2 hours ago - Health

Apple will miss quarterly earnings estimates due to coronavirus

Apple CEO Tim Cook

Apple issued a rare earnings warning on Monday, saying it would not meet quarterly revenue expectations due to the impact of the coronavirus, which will limit iPhone production and limit product demand in China.

Why it matters: Lots of companies rely on China for production, but unlike most U.S. tech companies, Apple also gets a significant chunk of its revenue from sales in China.

America's dwindling executions

The Trump administration wants to reboot federal executions, pointing to a 16-year lapse, but Pew Research reports the government has only executed three people since 1963.

The big picture: Nearly all executions in the U.S. are done by states. Even those have been steadily dropping for two decades, per the Bureau of Justice Statistics (BJS) — marking a downward trend for all executions in the country.