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Macro

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Health Care Policy

Trump administration announces new tariffs on drugmakers

It's Trump's trade world now

A line chart that tracks the average effective tariff rate daily from Jan. 1, 2025, to April 2, 2026. The rate rises from 2.3% to a peak of 21% on April 11, 2025, then eases to 11% by Feb. 20, 2026 after the Supreme Court strikes down tariffs implemented under the International Emergency Economic Powers Act, where it remains through April 2, 2026.

Average effective tariff rate

Data: Yale Budget Lab; Chart: Erin Davis/Axios Visuals

Finish Line

Axios Finish Line

Behind the Curtain: Jamie Dimon's warning

Pressure on Trump? Wall Street's got an index for that

Mysterious trading patterns follow Trump into war

A column chart showing crude oil futures trading volume per minute from 6am to 8am Eastern on March 23, 2026. At 6:49 trading volume suddenly spiked from a few hundred contracts traded per minute to almost 3,000. At 7:05 am, Trump announced the deferment of strikes on Iran.

Crude oil futures trading volume

Data: Yahoo Finance; Chart: Erin Davis/Axios Visuals

Tech Policy

AI chip smuggling signals strong Chinese demand

Global trade grew in 2025 despite Trump tariffs, two reports show

Cuba's humanitarian crisis deepens as Trump applies pressure

Axios AM

Behind the Curtain: Trump's escalation trap

The Iran war is a new test of America's economic superpower

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