In a Wall Street Journal opinion piece, Kevin McCarthy — who has a strong personal rapport with Trump — shows how the Republican House will support Donald Trump's aggressive deregulatory agenda.

  • "Passing the REINS Act .... If the bill becomes law, new regulations that cost $100 million or more will require congressional approval before they take effect."
  • "The House also passed the Regulatory Accountability Act, which would require agencies to choose the least-costly option available to accomplish their goals."
  • [R]epealing specific regulations using the Congressional Review Act, which allows a majority in the House and Senate to overturn any rules finalized in the past 60 legislative days.
  • "The House will repeal the Interior Department's Stream Protection Rule."
  • "The House will also take the ax to the Securities and Exchange Commission's disclosure rule for resource extraction."

Why this Matters: See today's installment of our series Trump 101, where we delve into the new President's plans to gut the regulatory state. A top Trump insider told us yesterday that Congress needs to get back in the game when it comes to unwinding the federal bureaucracy, or you'll get a "whipsaw effect" when the next Democratic president will undo Trump's handiwork.

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Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 3 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.