Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

French President Emmanuel Macron appears with President Trump before a lunch at the Elysee Palace in Paris on Nov. 11. Photo: Jacques Demarthon/AFP via Getty Images

The United States has not signed the Paris Call for Trust and Security in Cyberspace, a pact between 51 countries and hundreds of the important companies in tech, nonprofits and universities. At least, not yet.

The big picture: Signatories tell Axios that the U.S. hasn't shut the door on the agreement of general principles for internet security. The agreement, a first-of-its-kind document involving both the public and private sector, could be a significant step toward a global understanding of what countries are and aren't permitted to do online — but that's likely only if the U.S. lends its heft.

What they're saying: "It is a missed opportunity for the U.S., especially because the agreement is nonbinding," Peter Singer, a strategist and senior fellow at the New America Foundation, told Codebook via email.

The Paris Call is a handshake establishing principles, including:

  • Human rights should extend to online spaces.
  • Countries should work together to prevent the theft of intellectual property (as China is accused of doing), election tampering (as Russia is accused of orchestrating) and destabilizing the core of the internet (as China may have done through BGP hijacking).
  • Countries should never release malware causing indiscriminate harm to the public (as Russia and North Korea are accused of doing with NotPetya and WannaCry).
  • The private sector will not risk collateral damage by "hacking back" their hackers.

Other odds and ends: It also stipulates:

  • Disclosure programs and other basic cybersecurity measures are generally good.
  • The private sector must play a role in comprehensive security plans.

Who didn't sign: The U.S. is not the only nation that didn't sign the Paris Call. But many of the other nonsignatories skew in an unflattering direction: They include North Korea, Russia, Iran and China.

  • 3 out of 5 of the nations in the powerful Five Eyes alliance signed the accord. (The U.K., Canada and New Zealand did. The U.S. and Australia did not.) Israel didn't sign, either.

The intrigue: The United States appears to have two motivations not to sign.

1. Trump hates these things. President Trump likes deals, not agreements. He likes bilateral, transactional things where he feels like the U.S. comes out ahead. This is more of a zero-sum affair, where everyone in the world benefits because everyone gives something up.

  • "The problem is that so many threats to U.S. security simply can't be solved in that way. Whether it is cybersecurity or environmental or nuclear nonproliferation issues, they are multilateral and multilayered," said Singer.

2. Big dogs don't like fences. And nearly all the major cyber powers (U.S., North Korea, China, Iran, Russia and Israel) stayed out of the agreement, likely hesitant to place even nonbinding restrictions on how they act. One exception is the United Kingdom, who signed the agreement.

  • "While the goal of the Call is laudable, and the list of industry signatories in particular is impressive, without the U.S. and other offensive-minded states as signatories, it feels a bit like the players on the sidelines telling the ones in the game to stop playing," said Betsy Cooper, a one-time attorney and adviser at the Department of Homeland Security who was just named director of the new Aspen Tech Policy Hub.

Go deeper

Dan Primack, author of Pro Rata
3 mins ago - Economy & Business

The Leon Black clock strikes midnight

Illustration: Sarah Grillo/Axios

Leon Black is "retiring" as CEO of Apollo Global Management, the alternative investment giant he has led since co-founding it in 1990. But he is not making a full break, as Black will remain chair of Apollo's board of directors.

Why it matters: This is the culmination of 18 months of head-in-the-sand obfuscation of Black's dealings with Jeffrey Epstein.

Reddit traders look to pummel Wall Street's old guard

Illustration: Sarah Grillo/Axios

Reddit traders are taking on Wall Street pros at their own game with this basic mantra: Stocks will always go up.

Why it matters: Their trades — egged on in Reddit threads — have played a role in historic market activity in recent days.

The week the Trump show ended

Data: NewsWhip; Chart: Andrew Witherspoon/Axios

Donald Trump was eclipsed in media attention last week by President Biden for the first time since Trump took office, according to viewership data on the internet, on social media and on cable news.

Why it matters: After Trump crowded out nearly every other news figure and topic for five years, momentum of the new administration took hold last week and the former president retreated, partly by choice and partly by being forced off the big platforms.