White House Press Secretary Sarah Sanders said Friday that the president doesn't want to enter a trade war with China, but if he does, he'll win.

Key quote: President Trump "absolutely" still believes trade wars are easy to win. "If he is in charge of those negotiations then absolutely. He's the best negotiator at the table."

  • Tariffs effect on the markets: Sanders said the president understands that the tariffs could cause "some fluctuation" in the stock market, but he thinks "enough is enough" ... "Frankly we shouldn't be in this situation, the previous administration should have stepped up and dealt with this."
  • Today’s Russia sanctions don’t mean that a summit with President Vladimir Putin is off the table, said Sanders. Trump still wants to have a good relationship with Russia, but "what we would like to see is the totality of the Russian behavior change."
  • National guard to the southern border: The administration is working with border states to get the National Guard on the ground as soon as possible. California has resisted, but Sanders said she hopes they will “do the right thing.”

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Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 3 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.