Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Donald Trump and Xi Jinping. Photo: Kyodo News via Getty Images

Part of the reason China was willing to take a harder line against North Korea was to curry favor with the U.S., but Trump has proposed tariffs on Chinese exports anyways, ratcheting up trade tensions.

Why it matters: Beijing is now reassessing its priorities when it comes to North Korea, according to Jenny Town, managing editor of 38 North, and may be less willing to keep up the pressure.

Between the lines

Obviously China has other motivations in sanctioning North Korea, Town says: “they were frustrated with North Korea and they don’t want North Korea to have nuclear weapons.” But this trade war changes the calculus in Chinese-U.S. relations, including on North Korea.

"China...If they’re helping me with North Korea, I can look at trade a little bit differently, at least for a period of time. And that’s what I’ve been doing."
— Trump in December, 2017
China's calculus

Robert Manning, a former senior strategist with the Office of the Director of National Intelligence under Barack Obama, says China's "concern for stability" informs the reluctance to pressure North Korea. They're worried "if they squeeze too hard," they could help precipitate a "collapse," he says.

  • That is threatening to the Chinese for two reasons, per Manning. One, "the Chinese understand that missiles can be pointed in all directions," including at them, and they also share a border which, in the case of collapse, could mean a humanitarian crisis in Chinese territory.
What's next?
  • “China will continue to use the North Korea issue as a bargaining chip with U.S., to the extent it can, and that includes the trade front," Yun Sun, the director of the China Program at the Stimson Center, told Axios.
  • We “will see a softening of the sanctions that China has against North Korea,” Town says. That’s because although China has an interest in cutting off the North’s ability to fund its nuclear program, “when you cut off North Korean business from China it also affects the Chinese economy.” Bolstering trade channels with North Korea could also “ensure stability on the Korean peninsula.”
  • Sun says that while China can’t ease UN sanctions on North Korea without violating UN resolutions, "what is tricky is whether China will loosen its implementation of the sanctions” by skirting them as in the past. China could also “raise the issue of easing sanctions, although U.S. will be fully capable of saying no,” Sun said.

Go deeper

Texas House probes school library books dealing with race and sexuality

Photo: Brittany Murray/MediaNews Group/Long Beach Press-Telegram via Getty Images

Texas state Rep. Matt Krause (R), chair of the Texas House Committee on General Investigating, announced Wednesday that he's initiating a probe into schools' library books, according to a letter sent to the state's education agency and other superintendents.

Why it matters: The probe focuses on books that discuss race, sexuality, or "make students feel discomfort, guilt, anguish, or any other form of psychological distress because of their race or sex," Krause wrote in the letter.

5 hours ago - World

Iran agrees to resume Vienna nuclear talks in November

Ali Bagheri (R) with Enrique Mora in Tehran on Oct. 14. Photo: Iranian Foreign Ministry handout via Getty

Iran's new chief nuclear negotiator said following a meeting in Brussels on Wednesday that Iran would resume negotiations in Vienna before the end of November, with the exact date to be set next week.

Why it matters: The Vienna talks have been frozen since Iran's new hardline president, Ebrahim Raisi, was elected in June. This is the most direct commitment from Raisi's government to return to the negotiating table.

Dan Primack, author of Pro Rata
10 hours ago - Politics & Policy

Democrats' billionaires tax explained

Illustration: Aïda Amer/Axios

There is now legislative language behind the push to tax American billionaires on unrealized capital gains, as Sen. Ron Wyden last night released his 107-page plan.

Why it matters: This would be a sea change in U.S. tax policy, which has only applied to realized gains (otherwise known as income).