Jul 8, 2017

Trump gets G20 trade victory despite climate isolation

Evan Vucci / AP

Trump was the odd man out during last month's G7 meeting in Sicily, and it appears the trend continued at this weekend's G7 Summit in Hamburg — at least on climate. German Chancellor Angela Merkel said the U.S.' position on the Paris climate deal essentially made it 19 against one, as all nations but the U.S. said the deal was "irreversible," per AP.

However, although Merkel called Trump's climate decision "regrettable," there was one clear win for Trump: striking a deal on trade.

The summit's official statement on climate left the U.S. in a separate paragraph; the statement on trade included Trump and even echoed his views. Per the AP: "The countries agreed that trade needs to be 'reciprocal and mutually advantageous' and that countries could use 'legitimate trade defense instruments' to protect their markets."

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Airline industry braces for a forever-changed world

Illustration: Sarah Grillo/Axios

The airline industry got a $58 billion lifeline in the coronavirus federal aid package. But the path is unclear for these companies, whose operations and prospects will be forever changed by the global pandemic.

Why it matters: People may want to minimize travel for the foreseeable future. Investors, analysts and industry watchers are trying to determine how much airlines will need to spend — and how much more in lost revenue they'll see — while they adapt to the new reality.

Trump denies seeing Navarro memos warning about toll of coronavirus

President Trump said at a press briefing Tuesday that he "didn't see" memos from his trade adviser Peter Navarro warning in January and February that the coronavirus crisis could kill more than half a million Americans and cost close to $6 trillion.

Why it matters: Trump insisted that despite not seeing the memos, he did "more or less" what Navarro suggested by banning non-U.S. citizens from traveling from China effective Feb. 2.