President Trump looks on as Chinese President Xi Jinping speaks in Beijing in November. Photo: Nicholas Asfouri / AFP / Getty Images

Forty-five trade associations representing some of the country's largest companies are urging President Trump to freeze his plan to impose another round of steep tariffs on China after his recent actions on imported steel and aluminum.

Why it matters: Their Sunday letter to Trump signals a growing rift between the Trump administration and the business community on international trade. Trump's recent tariffs plan drew rebukes from mainstream Republicans, industry leaders, and foreign leaders.

The details: The groups warned that tariffs would "only split U.S. from its allies" and "trigger a chain reaction of negative consequences for the U.S. economy, provoking retaliation; stifling U.S. agriculture, goods, and services exports; and raising costs for businesses and consumers." Instead, they advocate that the Trump administration engage like-minded partners who have "common concerns" about China's "unfair" trade and investment policies.

The backdrop: Politico first reported last week that Trump's team presented him with a tariffs plan targeting the equivalent of $30 billion a year in Chinese imports. As Axios' Jonathan Swan reported in today's Sneak Peek, the administration's current tentative plan will potentially put tariffs on hundreds of Chinese products by the end of this month.

Go deeper: Trump's trade plan that would blow up the WTO.

Go deeper

8 hours ago - World

China-Iran deal envisions massive investments from Beijing

Illustration: Aïda Amer/Axios

China and Iran have negotiated a deal that would see massive investments flow into Iran, oil flow out, and collaboration increase on defense and intelligence.

Why it matters: If the proposals become reality, Chinese cash, telecom infrastructure, railways and ports could offer new life to Iran’s sanctions-choked economy — or, critics fear, leave it inescapably beholden to Beijing.

Updated 9 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 13,048,249 — Total deaths: 571,685 — Total recoveries — 7,215,865Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 3,353,348— Total deaths: 135,524 — Total recoveries: 1,031,856 — Total tested: 40,282,176Map.
  3. World: WHO head: There will be no return to the "old normal" for foreseeable future — Hong Kong Disneyland closing due to surge.
  4. States: Houston mayor calls for two-week shutdownCalifornia orders sweeping rollback of open businesses — Cuomo says New York will use formula to determine if reopening schools is safe.
  5. Education: Los Angeles schools' move to online learning could be a nationwide tipping point.

House Judiciary Committee releases transcript of Geoffrey Berman testimony

Geoffrey Berman. Photo: Alex Wong/Getty Images

The House Judiciary Committee on Monday released the transcript of its closed-door interview with Geoffrey Berman, the former top federal prosecutor in Manhattan who was forced out by Attorney General Bill Barr last month.

Why it matters: House Democrats have seized on Berman's testimony, in which he claimed the attorney general sought to "entice" him into resigning so that he could be replaced by SEC chairman Jay Clayton, to bolster allegations that the Justice Department has been politicized under Barr.