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Michael Sohn/AP

German Chancellor Angela Merkel took aim at the Trump Administration's trade rhetoric Tuesday, arguing during a speech to the business arm of her CDU party that Germany invests 10 times more in the U.S. than vice versa.

  • She pointed out that BMW's South Carolina factory is responsible for more U.S. car exports than any other in the country, including factories built by U.S.-headquartered Ford and GM.
  • U.S. Commerce Secretary Wilbur Ross was scheduled to speak at the event, but cancelled at the last minute, and instead addressed the crowd "via a cracking live-stream from Washington D.C," Politico reports. The moderator cut off Ross' speech after twenty minutes.
  • Why it matters: The event is further evidence of strained U.S.-German relations, and that the German government has little appetite for working with the Trump Administration to reduce the U.S.-German trade deficit.

Go deeper

Erica Pandey, author of @Work
1 hour ago - Economy & Business

The winners and losers of the pandemic holiday season

Illustration: Sarah Grillo/Axios

The pandemic has upended Thanksgiving and the shopping season that the holiday kicks off, creating a new crop of economic winners and losers.

The big picture: Just as it has exacerbated inequality in every other facet of American life, the coronavirus pandemic is deepening inequities in the business world, with the biggest and most powerful companies rapidly outpacing the smaller players.

Coronavirus cases rose 10% in the week before Thanksgiving

Expand chart
Data: The COVID Tracking Project, state health departments; Map: Andrew Witherspoon, Sara Wise/Axios

The daily rate of new coronavirus infections rose by about 10 percent in the final week before Thanksgiving, continuing a dismal trend that may get even worse in the weeks to come.

Why it matters: Travel and large holiday celebrations are most dangerous in places where the virus is spreading widely — and right now, that includes the entire U.S.

Updated 7 hours ago - Politics & Policy

Supreme Court backs religious groups on New York coronavirus restrictions

Photo: Saul Loeb/AFP via Getty Images

The U.S. Supreme Court ruled late Wednesday that restrictions previously imposed on New York places of worship by Gov. Andrew Cuomo (D) during the coronavirus pandemic violated the First Amendment.

Why it matters: The decision in a 5-4 vote heralds the first significant action by the new President Trump-appointed conservative Justice Amy Coney Barrett, who cast the deciding vote in favor of the Catholic Church and Orthodox Jewish synagogues.