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Illustration: Lazaro Gamio/Axios

The White House will not propose new investment restrictions on China or other countries, outside of what Congress was already planning to do, according to senior administration officials.

Be smart: This modest approach comes as Senate Republicans have been considering ways to limit Trump's authority on trade, and is likely to be cheered by Wall Street.

  • President Trump will endorse a bipartisan piece of legislation called FIRRMA, which is intended to strengthen the Committee on Foreign Investment in the United States, an existing body that reviews foreign investments in the U.S.
  • A version of FIRRMA passed the House overwhelmingly yesterday, and final language is expected to soon be hammered out in conference.
  • Nothing new is being announced regarding U.S. tech exports, although there are some export controls in FIRRMA.
  • In May, the White House said it "will implement specific investment restrictions and enhanced export controls for Chinese persons and entities related to the acquisition of industrially significant technology. The list of restrictions and controls will be announced by June 30, 2018."
  • More: Trump's original sin on trade

Go deeper

15 mins ago - Health

Moderna to file for FDA emergency use authorization for COVID-19 vaccine

Photo illustration by STR/NurPhoto via Getty Images

Moderna announced that it plans to file with the FDA Monday for an emergency use authorization for its coronavirus vaccine, which the company said has an efficacy rate of 94.1%.

Why it matters: Moderna will become the second company to file for a vaccine EUA after Pfizer did the same earlier this month, potentially paving the way for the U.S. to have two COVID-19 vaccines in distribution by the end of the year. The company said its vaccine has a 100% efficacy rate against severe COVID cases.

The social media addiction bubble

Illustration: Annelise Capossela/Axios

Right now, everyone from Senate leaders to the makers of Netflix's popular "Social Dilemma" is promoting the idea that Facebook is addictive.

Yes, but: Human beings have raised fears about the addictive nature of every new media technology since the 18th century brought us the novel, yet the species has always seemed to recover its balance once the initial infatuation wears off.

Young people's next big COVID test

Illustration: Eniola Odetunde/Axios

Young, healthy people will be at the back of the line for coronavirus vaccines, and they'll have to maintain their sense of urgency as they wait their turn — otherwise, vaccinations won't be as effective in bringing the pandemic to a close.

The big picture: "It’s great young people are anticipating the vaccine," said Jewel Mullen, associate dean for health equity at the University of Texas. But the prospect of that enthusiasm waning is "a cause for concern," she said.

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