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Pablo Martinez Monsivais / AP

Trump's key economic advisors are pitted against each other on trade policy, with senior advisor Steve Bannon and trade advisor Peter Navarro on one side and National Economic Council Director Gary Cohn and his staff on the other, according to FT. One official said there was "a fiery meeting" recently in the Oval Office.

The FT says that Navarro is losing clout and being sidelined in the White House. As a European official put it: "His influence seems to be diminishing quickly."

Why it matters: FT nails the meaning in a quote from Thea Lee, a trade official at the AFL-CIO, who said, "At the moment it appears that the Wall Street wing of the Trump administration is winning this battle and the Wall Street wing is in favour of the status quo in terms of US trade policy."

Go deeper

Ben Geman, author of Generate
13 mins ago - Politics & Policy

The top candidates Biden is considering for key energy and climate roles

Photo: Alex Wong/Getty Images

Senate Minority Leader Chuck Schumer (D-N.Y.) has urged President-elect Joe Biden to nominate Mary Nichols, chair of California's air pollution regulator, to lead the Environmental Protection Agency, Bloomberg reports.

Why it matters: The reported push by Schumer could boost Nichol's chances of leading an agency that will play a pivotal role in Biden's vow to enact aggressive new climate policies — especially because the plan is likely to rest heavily on executive actions.

U.S. economy adds 245,000 jobs in November as recovery slows

Data: BLS; Chart: Axios Visuals

The U.S. economy added 245,000 jobs in November, while the unemployment rate fell to 6.7% from 6.9%, the government said on Friday.

Why it matters: The labor market continues to recover even as coronavirus cases surge— though it's still millions of jobs short of the pre-pandemic level. The problem is that the rate of recovery is slowing significantly.

2 hours ago - Health

Fauci says he accepted Biden's offer to be chief medical adviser "on the spot"

The government's top infectious-disease expert Anthony Fauci said Friday that he "absolutely" will accept the offer from President-elect Joe Biden to serve as his chief medical adviser, telling NBC's "Today" that he said yes "right on the spot."

Why it matters: President Trump had a contentious relationship with Fauci, who has been forced during the pandemic to correct many of the president's false claims about the coronavirus. Biden, meanwhile, has emphasized the importance of "listening to the scientists" throughout his campaign and transition.