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

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Senate advances Amy Coney Barrett nomination, setting up final confirmation vote

Photo: Xinhua/Ting Shen via Getty Images

The Senate voted 51-48 on Sunday to advance the Supreme Court nomination of Judge Amy Coney Barrett, setting up a final confirmation vote for Monday.

Why it matters: It's now virtually inevitable that the Senate will vote to confirm President Trump's third Supreme Court nominee before the election, which is just nine days away.

Felix Salmon, author of Capital
2 hours ago - Economy & Business

Wall Street is living up to its bad reputation

Illustration: Sarah Grillo/Axios

Recent headlines will have you convinced that Wall Street is hell-bent on living up to all of its stereotypes.

Driving the news: Goldman Sachs is the biggest and the boldest, paying more than $5 billion in fines in the wake of the 1MDB scandal, in which billions were stolen from the people of Malaysia.

2 hours ago - Health

Ex-FDA chief: Pence campaigning after COVID exposure puts others at risk

Former FDA commissioner Scott Gottlieb said "the short answer is yes" when asked whether Vice President Mike Pence is putting others at risk by continuing to campaign after several aides tested positive for COVID-19, stressing that the White House needs to be "very explicit about the risks that they're taking."

Why it matters: The New York Times reports that at least five members of Pence's inner circle, including his chief of staff Marc Short and outside adviser Marty Obst, have tested positive for the virus. Pence tested negative on Sunday morning, according to the VP's office, and he'll continue to travel for the final stretch of the 2020 campaign.