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21 hours ago | 
axios.com | Ben Berkowitz |Jason Lalljee
Tesla, Musk's only publicly traded face, lost more than $150 billion in value on Thursday. Photo illustration: Sarah Grillo/Axios. Photo: Apu Gomes/Getty ImagesJust a few months ago, investors were willing to massively increase the valuations of Elon Musk's companies, in part because of his proximity to Donald Trump and the centers of Washington power. That ended yesterday.
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21 hours ago | 
flipboard.com | Ben Berkowitz |Jason Lalljee
2 hours agoIn an interview with ABC News (DIS) early Friday morning, President Donald Trump brushed off the suggestion of reconciling with Elon Musk. “You mean the man who has lost his mind?” the President asked, adding that he was “not particularly” interested in speaking to the Tesla (TSLA) and SpaceX …
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1 day ago | 
axios.com | Dave Lawler |Ben Berkowitz
Trump and Xi in 2019. Photo: Brendan Smialowski/AFP via Getty Images)President Trump and Chinese President Xi Jinping spoke on Thursday, Chinese state media said, amid rising trade war tensions. Why it matters: Washington and Beijing have accused each other of violating the 90-day trade truce reached three weeks ago, under which both dramatically lowered tariffs and promised further dialogue.
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2 days ago | 
flipboard.com | Dave Lawler |Ben Berkowitz
NowUSA-China, phone call between Xi Jinping and Donald TrumpMilan, June 5 (LaPresse) – The Chinese agency Xinhua reports that Chinese President Xi Jinping held a phone conversation with U.S. President Donald …2 hours agoBitcoin, Ethereum, XRP, Dogecoin Dip, But Trader Says Everything's Going According to PlanMajor cryptocurrencies are dipping on Thursday morning as market participants wait for an announced phone call between President Donald Trump and …
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1 week ago | 
axios.com | Ben Berkowitz |Courtenay Brown
President Trump holds a list of tariffs on "Liberation Day." Photo: Chip Somodevilla/Getty Images)An obscure federal court blew up the cornerstone of President Trump's economic agenda last night, unleashing more chaos on the global economy and all but wiping out his negotiating leverage with trading partners. Why it matters: At least for now, it turns out the legal system — not the bond market, nor weak economic indicators — is the biggest restraint on Trump's trade agenda.
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1 week ago | 
flipboard.com | Ben Berkowitz |Courtenay Brown
5 hours agoThe MSNBC host called Trump's plan "completely illegal" and "constitutionally insane." MSNBC’s Lawrence O’Donnell predicted on Wednesday that stocks would rally big on Thursday after a federal trade court blocked President Donald Trump’s plan to impose massive tariffs. On Thursday, he said, “the …
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1 week ago | 
axios.com | Ben Berkowitz
Illustration: Lindsey Bailey/AxiosMore than 70% of U.S. small and mid-sized businesses say tariffs have already increased their operating costs — but almost all still expect to be able to grow internationally in the coming years, per a new HSBC survey shared exclusively with Axios. Why it matters: In an increasingly volatile and uncertain environment, corporate leaders are staying optimistic, even while they concede that it's getting more expensive to do business.
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1 week ago | 
axios.com | Ben Berkowitz
Fannie Mae headquarters, as seen in 2008. Photo: Karen Bleier/AFP via Getty Images)President Trump on Tuesday pledged the government would continue its guarantees for mortgage giants Fannie Mae and Freddie Mac, even as it moves toward possibly giving up control of the companies. Why it matters: Trump's promise may soothe long-standing nerves about what might happen to mortgage rates in a world where Fannie and Freddie no longer had government backstops.
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1 week ago | 
axios.com | Ben Berkowitz
A traditional Japanese tea set. Photo: Natasha Breen/REDA/Universal Images Group via Getty ImagesA Japanese company is using AI to bridge trade, language and culture gaps — one solution for a world where historic bonds are loosening, but consumer demand is as strong as ever. Why it matters: If it works, it's a potential model for small businesses and creators around the world to access the U.S. market at a time of growing obstacles to international commerce.
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1 week ago | 
axios.com | Ben Berkowitz
President-elect Trump in Paris in Dec. 2024. Photo: Oleg Nikishin/Getty ImagesTwo days after threatening to impose a 50% tariff on imports from the European Union, President Trump on Sunday paused the levies until July and said talks would start "rapidly."Why it matters: The threat of such a large tariff, on more than $600 billion of goods, sent a chill through markets that feared a sudden re-escalation of the trade war.
