Feb 19, 2019

China's economic czar heads to D.C. this week for new trade talks

Liu He. Photo: Mark Schiefelbein/AFP/Getty Images

Vice Premier Liu He, China's economy czar, is heading to Washington for talks Thursday and Friday aimed at ending a fight over Beijing's technology ambitions ahead of a deadline for a massive U.S. tariff hike, AP reports.

Why it matters: Without an agreement, a 10% tariff increase imposed in July on $200 billion of Chinese goods is due to rise to 25% on March 2.

What's new: Business groups and economists saw the surprise announcement of further talks this week as a sign of progress. Both governments have expressed optimism but have given no details.

  • Be smart: Bill Bishop writes in his Sinocism newsletter that the U.S. side, "perhaps with the exception of President Trump, is not happy with what the negotiators view as very limited concessions from China."
  • "While some sort of a framework deal and extension of the talks is likely by March 1 to avoid new and increased tariffs is still likely, I do think the Chinese and the markets may have gotten too confident that it is a done deal."

Go deeper: Grading the impact of Trump's China tariffs

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U.S. coronavirus updates: New York reports record 630 deaths in 24 hours

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

New York reported 630 new deaths in 24 hours, Gov. Andrew Cuomo said Saturday — an "all-time increase" that beat the previous day's record of 562 deaths in a single day.

The big picture: As expected, COVID-19 death tolls are rising in the U.S., killing more than 7,100 people in total, and over 1,000 in 24 hours alone. The CDC is recommending Americans wear face coverings in public to help stop the spread, marking a significant change in messaging from the Trump administration.

Go deeperArrowUpdated 7 mins ago - Health

World coronavirus updates: Spain tracks more cases than Italy

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

Spain overtook Italy in its number of coronavirus cases on Saturday, as the global death toll surpassed 60,000, per Johns Hopkins data.

The latest: About half the planet's population is on lockdown amid the coronavirus crisis. Fatalities are exponentially increasing across Europe, with roughly half of deaths worldwide located in Italy and Spain.

Go deeperArrowUpdated 9 mins ago - Health

Coronavirus dashboard

Illustration: Axios Visuals

  1. Global: Total confirmed cases as of 12 p.m. ET: 1,140,327 — Total deaths: 60,887 — Total recoveries: 233,930Map.
  2. U.S.: Total confirmed cases as of 12 p.m. ET: 278,568 — Total deaths: 7,163 — Total recoveries: 9,920Map.
  3. Public health latest: The CDC is recommending Americans wear face coverings in public to help stop the spread of the coronavirus. The federal government will cover the costs of COVID-19 treatment for the uninsured.
  4. 2020 latest: "I think a lot of people cheat with mail-in voting," President Trump said of the 2020 election, as more states hold primaries by mail. Montana Gov. Steve Bullock said Friday that every county in the state has opted to expand mail-in voting for the state's June 2 primary.
  5. Business updates: America's small business bailout is off to a bad start. The DOT is urging airlines to refund passengers due to canceled or rescheduled flights, but won't take action against airlines that provide vouchers or credits.
  6. Oil latest: A pivotal Monday meeting among oil-producing countries to discuss supply curbs is reportedly being delayed amid tensions between Saudi Arabia and Russia.
  7. Military updates: Senators call for independent investigation into the firing of Navy captain of the U.S.S. Theodore Roosevelt. The U.S. military is struggling to find new recruits as enlistment stations are shut down.
  8. 1 🏀 thing: The WNBA is postponing the start of its training camps and season.
  9. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  10. Other resources: CDC on how to avoid the virus, what to do if you get it.

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