Evan Vucci/AP

President Trump continued his series of listening sessions with industry leaders on Wednesday, this time meeting with the retail sector. He hasn't gotten off to a great start with the industry — his criticism of Nordstrom for dropping his daughter's line of clothing was a particularly chilling moment for retail leaders.

The bigger issue for the sector, however, is the House Republicans and the tax increase they want to put on importers to pay for their planned headline reduction in corporate tax rates. In his statements before the meeting, Trump made no mention of the tax, border adjustment, saying instead that he would lower taxes for both corporations and individuals, without any mention how to pay for it.

Another retail headache: The border tax proposal is just the latest headwind to buffet the industry. With margins already shrinking from the competition of online retailers, the industry says the tax would be an added burden that would hurt investment and job growth.

Go deeper

Ousted former U.S. attorney for SDNY to testify before House Judiciary Committee

Berman in October 2019 in New York City. Photo: Johannes Eisele/AFP via Getty Images

Geoffrey Berman, the former U.S. attorney for the Southern District of New York, is scheduled to testify to the House Judiciary Committee next week on the circumstances of his forced resignation, Politico reports, citing a congressional aide.

Why it matters: As the top federal prosecutor in Manhattan, Berman oversaw high-profile cases that worried and angered President Trump and his inner circle, including an investigation into his personal lawyer Rudy Giuliani. His removal has added to allegations by Democrats that Attorney General Bill Barr has politicized the Justice Department under President Trump.

Stimulus outlook takes a hit even as coronavirus cases skyrocket

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The pandemic is getting worse, and the question is whether the economic recovery will go with it.

Why it matters: America adding 7.5 million jobs over the last two months pales in comparison to 20+ million lost over the two months prior.

3 hours ago - Health

Texas governor mandates face masks in public spaces

Photo: Mario Tama/Getty Images

Texas Gov. Greg Abbott (R) issued an executive order Thursday requiring all Texans to wear a face covering in public in counties with 20 or more positive coronavirus cases.

Why it matters: It's a dramatic reversal by the Republican governor that underscores the severity of the outbreak in Texas, which set a single-day record on Wednesday with more than 8,000 confirmed new cases. On June 3, Abbott issued an executive order banning local governments from imposing fines on people who don't wear masks in public.