Apr 10, 2017

China's red meat trade offering to Trump

Alex Brandon / AP

President Trump's Mar-a-Lago hosting with Chinese President Xi Jinping appears to be bearing some fruit, per the FT, which says China has offered the following concessions on trade:

  1. A drop on China's ban on U.S. beef, which has been in place since a Mad Cow Disease scare in 2003.
  2. Foreign investors will be allowed to hold majority stakes in Chinese investment and securities companies. This concept was discussed during the Obama administration, and a Chinese official told the FT it would have gone through had Obama had a few more months in office.

Why it matters: Trump needs concrete wins on trade, particularly for his heartland voters, and China wants to lock in a bilateral trade deal with the U.S., which it isn't eager to fight in a Trumpian trade war.

Go deeper

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 2:30 p.m. ET: 1,506,936 — Total deaths: 90,057 — Total recoveries: 340,112Map.
  2. U.S.: Total confirmed cases as of 2:30 p.m. ET: 432,596 — Total deaths: 14,831 — Total recoveries: 24,235Map.
  3. Federal government latest: President Trump is preparing to launch a second coronavirus task force focused on reviving the U.S. economy.
  6. World update: Boris Johnson is moved out of ICU but remains in hospital with coronavirus
  7. 🎧 Podcast: Your hydroxychloroquine questions answered.


Boris Johnson moved out of ICU but remains in hospital with coronavirus

Johnson last December. Photo: Kate Green/Anadolu Agency via Getty Images

U.K. Prime Minister Boris Johnson has been moved out of intensive care but is continuing to be monitored at St. Thomas' Hospital in London, according to a Downing Street spokesperson.

Why it matters: It's a sign of improvement after Johnson spent three nights in intensive care for coronavirus. Foreign Secretary Dominic Raab remains in charge of the government.

Go deeperArrow15 mins ago - World

A pause button for debts

Illustration: Aïda Amer/Axios

Governments have forcibly put much of the U.S. and the global economy on pause in recent weeks, for very good reason. Factories, offices, sporting arenas, restaurants, airports and myriad other institutions have closed down. But one thing hasn't been paused: monthly debt-service obligations.

The big picture: The less movement and activity there is in an economy, the more the coronavirus curve is flattened. But the obligations in bond and loan contracts can't be paused. That's worrying CEOs who fear a wave of business failures if economic activity doesn't pick up next month.