Andrew Harnik / AP

In the face of crumbling support for the Senate's plan to repeal and replace the Affordable Care Act, Majority Leader Mitch McConnell told reporters this afternoon that he'd instead move to hold a vote on full repeal without a replacement in the "very near future" — even as support for that option is dwindling.

  • His explanation for the failure of repeal and replace: "Everybody's given it their best shot, and as of today, we simply do not have 50 senators who agree on what can replace the existing law."
  • Rand Paul made a guest appearance: His message to senators voting "no" on full repeal: 'You need to go back home and explain to Republicans why you're no longer for repealing Obamacare."

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There's little consensus on TikTok's specific national security threat

Illustration: Aïda Amer/Axios

TikTok has become a Rorschach test for how U.S. politicians view China, with little consensus on the specifics of its threat to homeland security.

The big picture: Much of what D.C. fears about TikTok is fear itself, and that's reflected in President Trump's executive order to ban the app by Sept. 20 if it's not sold by parent company ByteDance — alongside another focused on Chinese messaging app WeChat and its parent company Tencent.

U.S. sanctions Hong Kong leader Carrie Lam

Photo: Anthony Kwan/Getty Images)

The Treasury Department on Friday placed sanctions on Hong Kong leader Carrie Lam, following months of tension as she has allowed continued overreach by Beijing to subvert Hong Kong's autonomy.

Why it matters: It's the toughest sanction yet imposed on China for its destruction of Hong Kong’s relatively free political system.

GM's high-stakes electric move

The Cadillac Lyriq. Image courtesy of Cadillac

Cadillac on Thursday unveiled the Lyriq, the luxury brand's first all-electric model and GM's first consumer electric vehicle unveil since the Chevy Bolt several years ago.

Why it matters: It's the first reveal by GM of an electric vehicle that will use the company's new modular platform and Ultium battery system — technologies meant to underpin the 20 electric vehicles that GM plans to launch by 2023.