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Darko Bandic / AP

The Trump administration is dialing back the U.S. commitment to an international initiative that sets transparency standards for oil and mining revenues.

Extractive Industries Transparency Initiative spokeswoman Christina Berger said today the U.S. "commitment to implementation appears to be withdrawn," but also said the group has not heard directly from the U.S. government. The Interior Department, which has led work to comply with the voluntary EITI standards, did not immediately respond to a request for comment.

Why it matters: Transparency advocates say backing away will keep U.S. tax information out of public view, and hurt momentum for transparency and anti-corruption efforts globally. This is the second move on transparency rules by the Trump administration — he's already signed legislation nullifying SEC rules requiring oil and mining companies to disclose payments to foreign governments.

Update: Interior Department spokeswoman Heather Swift said no decision has been made about whether to apply for EITI certification, and noted that the formal validation process for the U.S. isn't slated to begin until April of 2018. She said Interior "remains committed" to transparency and good governance in extractive industries.

Go deeper

Buffett eyes slow U.S. progress, but says "never bet against America"

Warren Buffett in New York City in 2017. Photo: Daniel Zuchnik/WireImage

Warren Buffett called progress in America "slow, uneven and often discouraging," but retained his long-term optimism in the country, in his closely watched annual shareholder letter released Saturday morning.

Why it matters: It breaks months of uncharacteristic silence from the 90-year-old billionaire Berkshire Hathaway CEO — as the fragile economy coped with the pandemic and the U.S. saw a contentious presidential election.

Restaurant software meets the pandemic moment

Illustration: Annelise Capossela/Axios

Food delivery companies have predictably done well during the pandemic. But restaurant software providers are also having a moment as eateries race to handle the avalanche of online orders resulting from severe in-person dining restrictions.

Driving the news: Olo filed last week for an IPO and Toast is rumored to be preparing to do the same very soon.

Bryan Walsh, author of Future
5 hours ago - Technology

How the automation economy can turn human workers into robots

Illustration: Sarah Grillo/Axios

More than outright destroying jobs, automation is changing employment in ways that will weigh on workers.

The big picture: Right now, we should be less worried about robots taking human jobs than people in low-skilled positions being forced to work like robots.