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!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

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!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Evan Vucci / AP

President Trump has privately told multiple people, including EPA Administrator Scott Pruitt, that he plans to leave the Paris agreement on climate change, according to three sources with direct knowledge.

Publicly, Trump's position is that he has not made up his mind and when we asked the White House about these private comments, Director of Strategic Communications Hope Hicks said, "I think his tweet was clear. He will make a decision this week."

Why this matters: Pulling out of Paris is the biggest thing Trump could to do unravel Obama's climate policies. It also sends a stark and combative signal to the rest of the world that working with other nations on climate change isn't a priority to the Trump administration. And pulling out threatens to unravel the ambition of the entire deal, given how integral former President Obama was in making it come together in the first place.

Caveat: Although Trump made it clear during the campaign and in multiple conversations before his overseas trip that he favored withdrawal, he has been known to abruptly change his mind — and often floats notions to gauge the reaction of friends and aides. On the trip, he spent many hours with Ivanka Trump and Jared Kushner, powerful advisers who back the deal.

Behind-the-scenes: The mood inside the EPA this week has been one of nervous optimism. In a senior staff meeting earlier this week, Pruitt told aides he wanted them to pump the brakes on publicly lobbying for withdrawal from Paris.

  • Instead, the EPA staff are quietly working with outside supporters to place op eds favoring withdrawal from Paris.
  • The White House has told Pruitt to lay off doing TV appearances until Trump announces his decision on Paris. (In past weeks, the EPA Administrator has gone on TV to say the U.S. needs to quit Paris, but Pruitt told aides he'll be keeping a lower profile. He doesn't want a Paris withdrawal to be seen as his victory. "It needs to be the President's victory," one source said, paraphrasing what Pruitt has told aides.)
  • Pruitt's aides have told associates in recent days that they remain confident the President will withdraw from Paris but they've been worried about him being overseas and exposed to pressure from European leaders and the environmentalist views of his top aides like Ivanka and economic adviser Gary Cohn. Top EPA staff were relieved when Trump refused to join the other six nations of the G7 in reaffirming "strong commitment" to the Paris agreement.

One level deeper: If Trump follows through and announces publicly he plans to withdraw from the Paris deal, an administration official laid out three ways he could do that:

  1. Trump could announce he is pulling the U.S. from the deal, which would trigger a withdrawal process that wouldn't conclude until November 2020 at the earliest. Under the deal's terms, any country can't send notice of its intent to withdraw until three years after the deal entered into force, which was Nov. 4, 2016. The actual process of withdrawal would then take one year. In this time, it's feasible Trump could change his mind, the administration source said.
  2. Trump could declare that the Paris deal is actually a legal treaty that requires Senate approval. Such a vote would fail, and then Trump would have Senate backing to not abide by the deal, which he deems a treaty. A letter that 22 Senate Republicans, including Senate Majority Leader Mitch McConnell, sent to Trump this week urging him to withdraw from the deal, increases the odds of this happening, the source said. Trump could also call for a Senate vote in combination with either the first or third option.
  3. Trump could withdraw the U.S. from the treaty that underpins the Paris deal, which is called the United Nations Framework Convention on Climate Change. This would be the most extreme option because it would take the U.S. out of all global climate diplomacy. This process would take just one year.

Will we always have Paris? All of these scenarios take more time and maneuvering than a simple announcement, which ensures the debate about what to do with the climate deal won't be over with any time soon.

Go deeper

43 mins ago - World

Netanyahu campaigns against Biden's plan to save Iran deal

Netanyahu campaigns at a gym last month. Photo: Pool/AFP via Getty

Israeli Prime Minister Benjamin Netanyahu indirectly criticized the Biden administration for its intention to return to the Iran nuclear deal and told his supporters he was prepared to "stand against the entire world" to stop it.

Why it matters: This is a major change of tune for Netanyahu, who had been careful in his statements on the Iran deal and avoided publicly criticizing President Biden. The statement was part of Netanyahu's attempt to rally his base ahead of Israel's election on March 23.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Tech: "Fludemic" model accurately maps COVID hotspotsVirtual doctor's visits and digital health tools take off.
  2. Politics: Schumer says Senate will stay through weekend to vote on COVID relief — Republican governor of West Virginia says there's no plan to lift mask mandate.
  3. World: Canada vaccine panel recommends 4 months between doses.
  4. Business: Firms develop new ways to inoculate the public.
  5. Local: Ultra-rich Florida community got vaccinations in January.
Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Why fears of a SPAC bubble may be overblown

Illustration: Annelise Capossela/Axios

The SPAC surge continues unabated, with 10 new ones formed since Wednesday morning. And that's OK.

Between the lines: There are growing concerns that retail investors are about to get rolled, with smart sponsors taking advantage of dumb money.