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Writer’s Story

Mexico Surpasses China as the US Top Trade Partner: A Closer Look at the Strategic and Political Connectivity

In a significant shift in international commerce dynamics, Mexico has edged past China to become the leading trade partner of the United States. While the transition is supported by many economic factors, the two crucial elements bolstering this development are Mexico's geographical proximity to the US and the solid political links between the two countries.

Geographically, Mexico is the United States' closest southern neighbor, sharing a border of over 1,900 miles. This proximity yields a myriad of logistical advantages. For instance, transportation costs for goods are significantly lower compared to shipping from Asia. The reduced shipping time also translates into shorter supply chains, allowing American companies to react quicker to changes in demand or disruptions. Furthermore, this geographical closeness fosters a shared time zone that eases communication and coordination between companies on both sides of the border…

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This Week’s Headlines

Public Markets

• FDA Approves First Over-the-Counter Birth-Control Pill (WSJ)

• Cash assets under management reach 'monster $7.8 trillion', Bank of America says (RT)

• One in six asset management groups to disappear by 2027, says PwC (FT)

• China ends Ant Group's regulatory revamp with nearly $1 billion fine (RT)

• Banks’ Newest Fed Headache: Nonstop Instant Payments (WSJ)

• Saudi National Bank was denied taking 40% Credit Suisse stake, Blick reports (RT)

• TikTok parent ByteDance to allow US staff to cash out on shares, sources say (RT)

• Bank of America to pay over $250 million over junk fees, other issues (RT)

• Jeff Bezos’ Blue Origin rocket engine explodes during testing (CNBC)

• Canada probes Nike, Dynasty Gold over alleged use of forced labor in China (RT)

• Microsoft's $69 billion Activision deal gets US judge go-ahead, UK softens opposition (RT)

• Elon Musk launches AI firm xAI as he looks to take on OpenAI (RT)

• Disney Extends CEO Robert Iger’s Contract Through 2026 (WSJ)

• PepsiCo CFO on big earnings report: The secret sauce is Frito-Lay and international (YAHOO)

• Delta posts record quarterly earnings, hikes full-year outlook on travel boom (CNBC)

• ChatGPT Comes Under Investigation by Federal Trade Commission (WSJ)

Economy

• UPS strike could be costliest in US in a century (RT)

• Inflation Eased to 3% in June, Slowest Pace in More Than Two Years (WSJ)

• US job gains smallest in 2-1/2 years; labor market still tight (RT)

• Mexico surpassed China as the top U.S. trading partner (AXIO)

• U.S. Is Top Investment Destination Despite Falling Inflows (WSJ)

• Banks rush to lock in cheap funding with record sales of ultra-safe debt (FT)

• China Slides to Brink of Deflation, Adding Stimulus Urgency (BBN)

• China's deflation pressure builds as consumer prices falter (RT)

• Jack Ma’s Clash With Beijing Costs Ant, Alibaba $850 Billion (BBN)

• US EV market struggles with price cuts and rising inventories (RT)

• Americans Prepare for Tighter Budgets as Student Loan Payments Resume (BBN)

• Gap in borrowing costs between developed and emerging markets at 16-year low (FT)

• China's Huawei poised to overcome US ban with return of 5G phones, research firms say (RT)

• St. Louis Fed President Bullard says he’s stepping down in August (CNBC)

• US Racks Up $652 Billion in Debt Costs as Rates Hit 11-Year High (BBN)

• U.S. Treasury posts sharply higher $228 billion June deficit (RT)

• SEC Takes Third Shot at Shoring Up Money-Market Funds (WSJ)

• Hollywood Actors Strike: TV and Movie Actors Vote for Biggest Walkout in Four Decade (NYT)

• China's exports fall most in three years as global economy falters (RT)

• Tesla looking to make about half million EVs annually in India, Times of India reports (RT)

Mergers & Acquisitions

• Exclusive: PE firms, defense companies vie for Ball Corp's aerospace unit (RT)

• Kering paid €3.5bn for fragrance company Creed (FT)

• TPG to Buy Forcepoint Unit From Francisco Partners for $2.45 Billion (WSJ)

• Buyout group Francisco Partners to acquire Macrobond for almost €700mn (FT)

• Toyota to issue $1.5bn in bonds for EV, safety projects (NIKK)

• Egypt announces sale of $1.9 billion worth of state assets (RT)

• Broadcom’s $61 Billion VMware Deal Set for EU Approval (BBN)

• Bain, Carlyle Study Bids for Adani’s Shadow Bank (BBN)

• Broadcom's $61 billion VMware deal wins conditional EU antitrust OK (RT)

• Abu Dhabi's ADIA in Talks to Back KKR’s Bid for Telecom Italia Network (BBN)

• FTC to Appeal Court’s Ruling Favoring Microsoft-Activision Deal (BBN)

Earnings

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