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Study: Trump tariffs to cost 146,000 jobs

President Trump
President Trump has proposed new tariffs on steel and aluminum. (Photo: Win McNamee / Getty Images)

President Trump's proposed tariffs on imported steel and aluminum will increase U.S. employment in those sectors by 33,000 jobs, but cost 179,000 jobs in other areas of the economy, according to a new report by The Trade Partnership, a consulting firm. This isn't accounting for any potential retaliation from other countries.

Between the lines: Republicans' best argument for why they should remain in power is that the economy is doing well under their leadership. The last thing they need is job losses — or retaliation from trading partners.

Jonathan Swan 5 hours ago
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Bolton bombshell: the clashes to come

John Bolton
John Bolton speaks at CPAC in 2016. Photo: Andrew Harrer / Bloomberg via Getty Images

Sources close to President Trump say he feels John Bolton, hurriedly named last night to replace H.R. McMaster as national security adviser, will finally deliver the foreign policy the president wants — particularly on Iran and North Korea.

Why it matters: We can’t overstate how dramatic a change it is for Trump to replace H.R. McMaster with Bolton, who was U.S. ambassador to the U.N. under President George W. Bush.

Erica Pandey 6 hours ago
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How China became a global power of espionage

Illustration: Sarah Grillo / Axios

As China’s influence spreads to every corner of the globe under President Xi Jinping, so do its spies.

Why it matters: China has the money and the ambition to build a vast foreign intelligence network, including inside the United States. Meanwhile, American intelligence-gathering on China is falling short, Chris Johnson, a former senior China analyst for the CIA who's now at the Center for Strategic and International Studies, tells Axios: "We have to at least live up to [China's] expectations. And we aren't doing that."