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U.S. investor and philanthropist George Soros. Photo: Fabrice Coffrini/AFP/Getty Images

Billionaire George Soros wrote in a Wall Street Journal op-ed on Tuesday that he is worried the Trump administration may use the ban that prevents U.S. companies from doing business with telecom giant Huawei as a bargaining chip in U.S.-China trade talks.

Why it matters: Soros, a longtime target of conservatives, praised Republicans for introducing amendments to prevent the president from removing Huawei as a national-security threat without the consent of Congress. But the legislation is at odds with the president's desire to relax restrictions.

Flashback: Trump announced in May 2018 that he would help revoke similar bans on China's ZTE, a Huawei competitor, even though the company violated trade export rules and economic sanctions by selling U.S. technology to Iran and North Korea.

  • Though Congress tried to reinstate the ban on ZTE, it ultimately dropped the plan.
  • "If he gives Huawei a similar break, removing it from the entity list as part of a trade deal, the company could consolidate its leading position in the 5G market. ... Congress must prevent this from happening," Soros wrote.

Go Deeper: How Huawei is weathering U.S. sanctions

Go deeper

Journalism enters dangerous new era

Illustration: Brendan Lynch/Axios

The Capitol attack on Jan. 6 resulted in at least nine physical assaults against journalists and at least five arrests, per the U.S. Press Freedom Tracker's top editor.

Why it matters: President Trump's harsh rhetoric towards the press has empowered leaders abroad and locally in the U.S. to continue to attack press that they don't like.

Ben Geman, author of Generate
3 hours ago - Politics & Policy

The beginning of the beginning for Biden's climate push

Illustration: Annelise Capossela/Axios

Joe Biden's inauguration and the days right after will bring a rat-tat-tat burst of climate policy moves, but keep this in mind amid the splashy pledges: pushing through most of his agenda will be a long, uncertain slog.

Why it matters: Biden's climate plan is far more expansive than anything contemplated under President Obama. But for all the immediate pledges, it will take years to see how far Biden gets.

Dion Rabouin, author of Markets
4 hours ago - Economy & Business

Biden's inflation danger

Illustration: Sarah Grillo/Axios

President-elect Joe Biden's $1.9 trillion stimulus proposal has economists and bullish market analysts revising their U.S. growth expectations higher, predicting a reflation of the economy in 2021 and possibly more booming returns for risk assets.

Yes, but: Others are warning that what's expected to be reflation could actually show up as inflation, a much less welcome phenomenon.