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U.S. arms are on sale at Asia’s largest aerospace and defense event, the Singapore Airshow, this week, per the AP. The U.S. is urging Asian countries to purchase F-35 fighter jets, two of which debuted at the airshow Tuesday.

Why it matters: Beijing and Washington have been accusing one another of a military buildup in the region, and Trump's newly released National Security Strategy prioritized countering China, a “rival” power, by reinforcing the U.S. presence in the Indo-Pacific region.

Expand chart
Note: The Trend Indicator Value unit is based on known costs of some weapons systems and represents the transfer of military resources rather than financial value; Data: Stockholm International Peace Research Institute; Chart: Chris Canipe / Axios

Big picture: The U.S. already exports more arms per year than any other country, but the Trump administration is expected to ramp up its arms sales efforts abroad by further involving diplomats and Pentagon attachés in sales.

Worth noting: Last year the U.S. sold arms to Vietnam, which disputes China’s claims about territorial control in the South China Sea.

Go deeper: Why the South China Sea is a global flashpoint

Editor’s note: This article’s headline has been changed. It originally read ”U.S. selling arms inside China's zone of influence”

Go deeper

1 hour ago - World

Netanyahu and Israel reluctantly adjust to a post-Trump Washington

Netanyahu (R) and Biden in 2010. Photo: Avi Ohayon/GPO via Getty

Prime Minister Benjamin Netanyahu and his close aides are very nervous about the transition to a new U.S. administration after a four-year honeymoon with Donald Trump. One Israeli official told me it felt like going through detox.

What he's saying: Netanyahu congratulated Biden minutes after he was sworn in, saying in a statement that he looked forward to working together to "continue expanding peace between Israel and the Arab world and to confront common challenges, chief among them the threat posed by Iran."

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. State of play: New coronavirus cases down, but more bad news ahead.
  2. Politics: Biden set to immediately ramp up federal pandemic response with 10 executive actions — Scoop: Joe Biden's COVID-19 bubble.
  3. World: Biden will order U.S. to rejoin World Health OrganizationBiden to bring U.S. into global COVAX initiative for equitable vaccine access.
  4. Vaccine: Amazon offers to help Biden administration with COVID vaccine efforts.
Dion Rabouin, author of Markets
3 hours ago - Economy & Business

First glimpse of the Biden market

Photo: Jonathan Ernst-Pool/Getty Images

Investors made clear what companies they think will be winners and which will be losers in President Joe Biden's economy on Wednesday, selling out of gun makers, pot purveyors, private prison operators and payday lenders, and buying up gambling, gaming, beer stocks and Big Tech.

What happened: Private prison operator CoreCivic and private prison REIT Geo fell by 7.8% and 4.1%, respectively, while marijuana ETF MJ dropped 2% and payday lenders World Acceptance and EZCorp each fell by more than 1%.