Jul 21, 2018 - Economy & Business

Mnuchin echoes Trump on hitting China with massive tariffs

Photo: Chip Somodevilla/Getty Images

Treasury Secretary Steven Mnuchin echoed President Trump's sentiment that the U.S. will possibly impose tariffs on more than $500 billion worth of goods imported from China, the Wall Street Journal reports.

The details: Trump said on Friday that he was "ready" to hit China with tariffs, inching the U.S. closer to a massive trade war. Mnuchin also said, while speaking before a meeting with G-20 finance ministers, that Trump "fully" supports independence of the Federal Reserve, after Trump complained about rising interest rates.

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Margaret Harding McGill

37 mins ago - Technology

Big Tech marshals a right-leaning army of allies for antitrust fight

Illustration: Eniola Odetunde/Axios

As tech's giants prepare to face off with antitrust enforcers this summer, they will draw support from an array of predominantly right-leaning defenders ranging from influential former government officials to well-connected think tanks.

The big picture: The Justice Department, the Federal Trade Commission and the states have multiple investigations of monopolistic behavior underway targeting Facebook and Google, with other giants like Amazon and Apple also facing rising scrutiny. Many observers expect a lawsuit against Google to land this summer.

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Sam Baker

2 hours ago - Politics & Policy

John Roberts' long game

Illustration: Sarah Grillo/Axios

Supreme Court Chief Justice John Roberts is not the revolutionary that conservative activists want him to be.

He moves slower than they want, sides with liberals more than they want, and trims his sails in ways they find maddening. But he is still deeply and unmistakably conservative, pulling the law to the right — at his own pace and in his own image.

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Caitlin Owens

2 hours ago - Health

The U.S.' new default coronavirus strategy: herd immunity

Illustration: Aïda Amer/Axios

By letting the coronavirus surge through the population with only minimal social distancing measures in place, the U.S. has accidentally become the world’s largest experiment in herd immunity.

Why it matters: Letting the virus spread while minimizing human loss is doable, in theory. But it requires very strict protections for vulnerable people, almost none of which the U.S. has established.