Updated Jun 27, 2018

Trump's original sin on trade

Illustration: Sarah Grillo/Axios

President Trump's decision to pull the U.S. out of the Trans-Pacific Partnership, on his third day in office, set the stage for many of the country's current trade disputes.

The big picture: Trump's TPP withdrawal enabled spats with allies and created a vacuum that China was positioned to fill.

China

TPP was designed to collectively blunt Chinese influence by creating a multilateral trading group that would either stand united against China or demand major concessions for its inclusion (including on hot-button topics like intellectual property protections). Either one could have helped the U.S. in its current standoff, which threatens to expand into an all-out trade war. At the very least, Trump would only be fighting one tariff battle in Asia instead of several.

Canada

Trump has decried Canada's sky-high tariffs on dairy imports, including from the U.S. But the Canadian government, under Prime Minister Stephen Harper, had agreed to basically end their dairy protectionism in exchange for the U.S. joining TPP. Once the U.S. bailed, Canada pulled the concession.

Latin America

TPP was actually signed in Chile, and included Mexico and Peru. All three countries have Pacific-facing coasts. Trump's TPP withdrawal has made these countries less reliant on trade with the U.S., creating an opening for China to increase its investment in Latin America. This has arguably made it harder to renegotiate NAFTA with Mexico, and given Latin America less reason to cooperate with the U.S. on other trade matters.

Japan

Japan was the first to sound the alarm on China, and Tokyo sees the TPP as its key tool to counter Beijing, but Trump's withdrawal weakened the trade deal's diplomatic and economic prowess. Instead of being Japan's partner in curbing Chinese influence, the U.S. is hitting the Asian country with tariffs. That's prompting Japan to hedge against unpredictable U.S. foreign policy and consider reconciling with the Chinese.

Go deeper

Coronavirus crisis tests Trump’s love for cheap oil

Illustration: Eniola Odetunde/Axios

President Trump is working to help an oil industry imploding as the coronavirus crisis chokes demand, but listen closely and you’ll hear his enduring love for cheap prices.

Why it matters: He’s like most Americans, who worry about energy only when it’s expensive or gone. As president, Trump has been slow and uneven in responding to the sector’s turmoil because of his inclination to cheer rock-bottom prices.

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 5 a.m. ET: 1,277,962 — Total deaths: 69,527 — Total recoveries: 264,048Map.
  2. U.S.: Total confirmed cases as of 5 a.m. ET: 337,646 — Total deaths: 9,648 — Total recoveries: 17,582Map.
  3. Federal government latest: White House adviser Peter Navarro battled Dr. Anthony Fauci in the Situation Room over the use of hydroxychloroquine.
  4. Trump latest: The pandemic may delay a Supreme Court case on the president's tax returns, sparing him from having to release them before the 2020 election.
  5. 2020 latest: Joe Biden says DNC may have to hold virtual convention.
  6. World update: U.K. Prime Minister Boris Johnson was admitted to the hospital as a "precautionary step."
  7. What should I do? Pets, moving and personal health. Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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World coronavirus updates: Fewer deaths in Italy and Spain, U.K. toll jumps

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

Health officials in Italy and Spain are seeing a glimmer of hope, as both countries reported a decline in deaths from the novel coronavirus Sunday. But the death toll continues to surge in the United Kingdom, which now has the world's fourth highest number of fatalities from COVID-19.

The big picture: The virus has killed more than 69,000 people and infected 1.25 million others globally as of early Monday, per Johns Hopkins data. Spain has reported the most cases outside the U.S. (more than 131,000) and Italy the most deaths (over 15,000). About half the planet's population is now on lockdown.

Go deeperArrowUpdated 2 hours ago - Health