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After China retaliates, Trump claims there's no trade war

Erica Pandey, author of @Work

As U.S. stock futures plummet Wednesday morning on the news that China has responded to U.S. tariffs by targeting autos, chemicals, planes, soybeans and whiskey, President Trump denied the existence of a trade war — though he claimed just last month that "trade wars are good, and easy to win."

Go deeper:

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Ben Geman, author of Generate
2 mins ago - Economy & Business

Tesla's wild rise and European plan

Tesla's market capitalization blew past $500 billion for the first time Tuesday.

Why it matters: It's just a number, but kind of a wild one. Consider, via CNN: "Tesla is now worth more than the combined market value of most of the world's major automakers: Toyota, Volkswagen, GM, Ford, Fiat Chrysler and its merger partner PSA Group."

Go deeper (1 min. read)Arrow
Dave Lawler, author of World
43 mins ago - World

China's Xi Jinping congratulates Biden on election win

Photo: Paul J. Richards/AFP via Getty Images

Chinese President Xi Jinping sent a message to President-elect Biden on Wednesday to congratulate him on his election victory, according to the Xinhua state news agency.

Why it matters: China's foreign ministry offered Biden a belated, and tentative, congratulations on Nov. 13, but Xi had not personally acknowledged Biden's win. The leaders of Brazil, Mexico and Russia are among the very few leaders still declining to congratulate Biden.

Go deeper (1 min. read)Arrow
Kendall Baker, author of Sports
2 hours ago - Sports

College basketball is back

Illustration: Sarah Grillo/Axios

A new season of college basketball begins Wednesday, and the goal is clear: March Madness must be played.

Why it matters: On March 12, 2020, the lights went out on college basketball, depriving teams like Baylor (who won our tournament simulation), Dayton, San Diego State and Florida State of perhaps their best chance to win a national championship.

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