Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. 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!

Denver news in your inbox

Catch up on 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!

Des Moines news in your inbox

Catch up on 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!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

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!

Sen. Tim Scott at a June Senate hearing in Washington, DC. Photo: Al-Drago-Pool/Getty Images

Sen. Tim Scott (R-S.C.) said while the 2020 election is between President Trump and Joe Biden, "it is not solely about Donald Trump and Joe Biden. It's about the promise of America."

The big picture: Scott, the only Black GOP senator in Congress, headlined the first night with Donald Trump Jr. In his speech, Scott attacked presumptive Democratic nominee Joe Biden and accused Democrats of campaigning on a "cultural revolution" for a "fundamentally different America."

What he's saying: "It is about how we respond when tackling critical issues like police reform when Democrats called our work a token effort and walked out of the room during negotiations because they wanted the issue more than they wanted a solution," Scott said.

"Our family went from cotton to Congress in one lifetime, and that's why I believe the next American century can be better than the last. There are millions of families just like mine all across this nation full of potential, seeking to live the American dream. And I'm here tonight to tell you that supporting the Republican ticket gives you the best chance of making that dream a reality."
  • He said this was the reason why he fights "to this day for school choice, to make sure every child in every neighborhood has a quality education."
  • "I don't care if it's a public, private, charter, virtual or a home school. When a parent has a choice, their kid has a better chance. And the president has fought alongside me on that," Scott added.
  • "We are not fully where we want to be, but I thank god all mighty we are not where we used to be. We are always striving to be better. When we stumble, and we will, we pick ourselves back up and try again."

Of note: Scott addressed Biden's race record during his speech. "Joe Biden said if a Black man didn't vote for him he wasn't truly Black. Joe Biden said Black people are a monolithic community. It was Joe Biden who said poor kids can be just as smart as white kids," he said.

  • "And while his words are one thing, his actions take it to a whole new level. In 1994 Biden led the charge on a crime bill that put millions of Black Americans behind bars. President trump's criminal justice reform law fixed many of the disparities Biden created and made our system more fair and just for all Americans."

Go deeper

Legacy civil rights groups: Biden's transition needs to include us

President-elect Joe Biden at the NAACP 110th National Convention last year. Photo: Bill Pugliano via Getty

Prominent civil rights leaders are concerned that President-elect Joe Biden is deciding his administration without their input, NBC News reported Tuesday.

Why it matters: As Biden looks to deliver his promise of forming a diverse administration, he will have to contend with different factions of the liberal movement that might pull him in different directions.

Biden's economic team will write a new crisis playbook

Illustration: Eniola Odetunde/Axios

Joe Biden's economic team faces a daunting task helping the millions of Americans who have lost their jobs or otherwise been financially ravaged by the coronavirus. But most of them have first-hand crisis experience, dating back to when Barack Obama inherited a crumbling economy when he took office in 2009.

Why it matters: Most of President-elect Biden's economic nominees served in the Obama administration, and wish that they could have gone bigger to help America recover from the 2008 financial crisis. But it's not going to be easy for them to push through massive fiscal spending in 2021.

Dec 2, 2020 - World

Biden says he won't immediately remove U.S. tariffs on China

President-elect Joe Biden during an event in Wilmington, Delaware, on Tuesday. Photo: Alex Wong/Getty Images

President Trump's 25% tariffs imposed on China under the phase one trade deal will remain in place at the start of the new administration, President-elect Biden said in an interview with the New York Times published early Wednesday.

Details: "I'm not going to make any immediate moves, and the same applies to the tariffs," Biden said. He plans to conduct a full review of the current U.S. policy on China and speak with key allies in Asia and Europe to "develop a coherent strategy," he said.