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President Trump tweeted Thursday that a new site for the signing of "phase one" of the U.S.-China trade deal will be "announced soon" after Chile canceled the Asia-Pacific Economic Cooperation summit slated for next month due to ongoing protests in the country.

Why it matters, via Axios' Jonathan Swan: Trump's tweet is the most definitive sign yet that the U.S. and Chinese teams are committed to signing the "phase one" deal. Some senior administration officials — who have felt burned by China before — had privately been cautioning that it was still possible it could fall apart at the last minute.

  • The trade war and its tariffs have injected uncertainty into the manufacturing sector and business sentiment in the U.S., but making the first part of this deal official could begin to help smooth things over, Axios' Dion Rabouin reports.

Go deeper: China's economy grows at slowest pace since 1992

Go deeper

Ben Geman, author of Generate
21 mins ago - Energy & Environment

Democrats' clean power outlook is very muddy

Illustration: Annelise Capossela/Axios

Here are two big questions as a key Democratic proposal to slash emissions from power generation flounders: how much its demise would sap climate protections, and what might replace it.

Catch up fast: New financial carrots and sticks for utilities to deploy zero-carbon power — the Clean Electricity Performance Program (CEPP) — look unlikely to stay in Democrats' big social spending and climate bill.

Colin Powell dies from COVID complications at 84

Photo: Paul Morigi/Getty Images for Capital Concerts

Colin Powell, the first Black U.S. secretary of state, died of complications from COVID-19, his family announced Monday. He was 84.

Driving the news: The Powell family said in a statement that he was fully vaccinated. "We want to thank the medical staff at Walter Reed National Medical Center for their caring treatment."

3 hours ago - Health

This arthritis drug cost $198 in 2008. Now it's more than $10,000

Illustration: Aïda Amer/Axios

In 2008, a box of 30 anti-inflammatory rectal suppositories that treats arthritis, called Indocin, had a price tag of $198. As of Oct. 1, the price of that same box was 52 times higher, totaling $10,350.

Why it matters: As federal lawmakers continue to waver on drug price reforms, Indocin is another example of how nothing prevents drug companies from hiking prices at will and selling them within a broken supply chain.

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