Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

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!

Want a daily digest of the top Denver news?

Get a daily digest of 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!

Want a daily digest of the top Des Moines news?

Get a daily digest of 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!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

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!

President Trump said Monday that TikTok will be shut down in the U.S. if it hasn't been bought by Microsoft or another company by Sept. 15, and argued — without elaborating — that the U.S. Treasury should get "a very substantial portion" of the sale fee.

Why it matters: Trump appears to have backed off his threat to immediately ban TikTok after speaking with Microsoft CEO Satya Nadella, who said Sunday that the company will pursue discussions with TikTok’s Chinese parent company ByteDance to purchase the app in the U.S.

The big picture: TikTok has come under intense scrutiny in the U.S. due to concerns that the vast amounts of data it collects could be accessed by the Chinese government, potentially posing a national security threat.

  • Negotiations between TikTok and Microsoft will be overseen by a special government panel called the Committee on Foreign Investment in the United States (CFIUS), Reuters reports.

What he's saying: Trump appeared to suggest on Monday that Microsoft would have to pay the U.S. government in order to complete the deal, but did not explain the precedent for such an action. He also argued that Microsoft should buy all of TikTok, not just 30% of the company.

  • "I don't mind if, whether it's Microsoft or somebody else, a big company, a secure company, a very American company, buy it. It's probably easier to buy the whole thing than to buy 30% of it. How do you do 30%? Who's going to get the name? The name is hot, the brand is hot," Trump said.
  • "A very substantial portion of that price is going to have to come into the Treasury of the United States. Because we're making it possible for this deal to happen. Right now they don't have any rights, unless we give it to them. So if we're going to give them the rights, it has to come into this country. It's a little bit like the landlord/tenant," he added.

Our thought bubble, via Axios' Dan Primack: Trump's inexplicable claim that part of Microsoft's purchase price would have to go to the Treasury is skating very close to announcing extortion.

Go deeper: A wild weekend for Microsoft's play for TikTok

Go deeper

Dion Rabouin, author of Markets
Nov 10, 2020 - Economy & Business

The winners and losers in the market's vaccine rally

Reproduced from Charles Schwab; Chart: Axios Visuals

Risk assets had a very good day on Monday, but U.S. stock performance was mixed after news that a COVID-19 vaccine from Pfizer and BioNTech could be distributed to millions of people before the end of the month.

Why it matters: Beyond just stocks, Monday's market moves clearly reflected investor enthusiasm and a market pricing in a return to pre-pandemic life that will benefit risk at the expense of safety.

Mike Allen, author of AM
20 mins ago - Politics & Policy

Scoop: Fauci's offensive against "craziness"

Photo: Win McNamee/Getty Images

After becoming a top punching bag for the right, Dr. Anthony Fauci is defending himself with a sharp new edge, arguing that an attack on him is an attack on science.

What he's saying: In comments to Kara Swisher on her New York Times "Sway" podcast, shared first with Axios, Fauci says: "It is essential as a scientist that you evolve your opinion and your recommendations based on the data as it evolves. ... And that's the reason why I say people who then criticize me about that are actually criticizing science."

Afghanistan's president coming to Washington on Friday

Ashraf Ghani, left, president of Afghanistan, and Abdullah Abdullah, chairman of the High Council for National Reconciliation. Photo: Sean Gallup/Getty Images

As the U.S. troop withdrawal accelerates, President Biden will welcome Afghan President Ashraf Ghani and Abdullah Abdullah, chairman of Afghanistan’s High Council for National Reconciliation, at the White House on Friday.

Our thought bubble: Axios politics editor Glen Johnson, who traveled to Afghanistan while working for Secretary of State John Kerry, said inviting both Ghani and Abdullah to Washington shows the administration’s respect for the delicate balance of power in the country.