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Photo: BRENDAN SMIALOWSKI/AFP via Getty Images

Others have tried this tactic without success — remember Hillary Clinton? — but Mike Bloomberg plans to attack President Trump on his business record.

One difference: Trump's pre-White House career can now be linked with his decisions as president. Another difference: Bloomberg will be making this argument as a multibillionaire who built a multinational company.

Between the lines: The crux of Bloomberg's argument is that Trump has only ever had to think about crushing his next adversary in a deal rather than building a long-term customer relationship — and that this short-term, win-at-all-costs mindset defines how Trump operates as president, and with allies.

  • "He is a real estate promoter as opposed to a businessman," Bloomberg told me at a campaign stop last Monday in Compton, south of downtown LA. "And they have very different ways of going about things."

Bloomberg's full comments:

"A promoter does one transaction and is never going to see that customer ever again. In his case, he sells a building to you and chances are he'll never have you as a customer again. So he can be much more aggressive in terms of trying to get the best deal for himself.
A businessperson, you always want to leave something on the table for the other side of the transaction because you're going to come back and try to have another transaction. And in fact, in this day and age, you can be a customer of another firm, they can be a customer of yours, you can be partners with them, you can have a lot of different relationships.
So the business world is much more complex, and you don't behave that way. And I think that explains a lot of ... his demeanor here versus other presidents or what I would do. ... That's the way I've always thought about it. Because you look at him and you say, 'Why does he do this?' That's what my conclusion is."

Go deeper

GOP Sen. Rob Portman will not run for re-election, citing "partisan gridlock"

Photo: Drew Angerer/Getty Images

Sen. Rob Portman (R-Ohio) announced Monday he will not run for a third term in the U.S. Senate in 2022, citing "partisan gridlock."

Why it matters: It's a surprise retirement from a prominent Senate Republican who easily won re-election in 2016 and was expected to do so again in 2022, creating an open Senate seat in a red-leaning swing state.

Dan Primack, author of Pro Rata
31 mins ago - Economy & Business

Merger Monday has been overrun by SPACs

Illustration: Aïda Amer/Axios

Five companies this morning announced plans to go public via reverse mergers with SPACs, at an aggregate market value of more than $15 billion. And there might be even more by the time you read this.

The bottom line: SPAC merger activity hasn't peaked. If anything, it's just getting started.

2 hours ago - Health

Moderna says vaccine appears to protect against new COVID-19 variants

Photo: Justin Tallis/AFP via Getty Images

Moderna's COVID-19 vaccine is effective against new variants of the virus that first appeared in the U.K. and in South Africa, the company announced on Monday.

Yes, but: The vaccine was as effective against the strain from U.K., but saw a six-fold reduction in antibodies against the South Africa variant. Even still, the neutralizing antibodies generated by the vaccine "remain above levels that are expected to be protective," according to the company.