Photo: Qilai Shen/In Pictures via Getty Images

The U.S. trade deficit reached $55.5 billion in October — the highest level in a decade — as imports rose 0.2% to $266.5 billion and exports fell 0.1% to $211 billion, the AP reports.

Why it matters: President Trump has made the trade deficit a signature grievance of both his campaign and presidency, slapping tariffs on aluminum, steel and $250 billion worth of Chinese goods. But the latest figures from the Commerce Department show the deficit with China has actually risen 7.1% to a record $43.1 billion, with U.S. soybean exports to China dropping 46.8% as a result of retaliatory tariffs.

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Nxivm cult leader Keith Raniere sentenced to life in prison

Carts full of court documents related to the U.S. v. Keith Raniere case arrive at the U.S. District Court for the Eastern District of New York in May 2019. Photo: Drew Angerer/Getty Images

Nxivm cult leader Keith Raniere, 60, was sentenced to 120 years in prison on Tuesday in federal court for sex trafficking among other crimes, the New York Times reports.

Catch up quick: Raniere was charged last summer with sex trafficking, conspiracy, sexual exploitation of a child, racketeering, forced labor and possession of child pornography. His so-called self-improvement workshops, which disguised rampant sexual abuse, were popular among Hollywood and business circles.

Erica Pandey, author of @Work
42 mins ago - Economy & Business

Americans are moving again

Illustration: Aïda Amer/Axios

For decades, the share of Americans moving to new cities has been falling. The pandemic-induced rise of telework is turning that trend around.

Why it matters: This dispersion of people from big metros to smaller ones and from the coasts to the middle of the country could be a boon for dozens of left-behind cities across the U.S.

Updated 55 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Obama: Trump is "jealous of COVID's media coverage" Axios-Ipsos poll: Federal response has only gotten worse.
  2. Health: Hospitals face a crush — 13 states set single-day case records last week.
  3. Business: Winter threat spurs new surge of startup activity.
  4. Media: Pandemic causes TV providers to lose the most subscribers ever.
  5. States: Nearly two dozen Minnesota cases traced to three Trump campaign events.
  6. World: Putin mandates face masks.