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Sen. John Cornyn (R-Texas) told the Dallas Morning News that he called President Trump on Tuesday to warn him that closing the U.S.-Mexico border would be a “terrible mistake” and that it could “inflict unintended harm on Americans.”

Why it matters: The U.S. exported $265 billion worth of goods to Mexico in 2018, with approximately $1.67 billion in trade daily between the two countries. Produce, as well as the auto, alcohol and oil industries would be particularly strained with a border closure. Trump intends to stop illegal crossings with the closure.

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WHO head: There will be no return to the "old normal" in near future

World Health Organization Director-General Tedros Adhanom Ghebreyesus. Photo: Fabrice Coffrini/POOL/AFP via Getty Images

World Health Organization Director-General Tedros Adhanom Ghebreyesus warned Monday that "there will be no return to the 'old normal' for the foreseeable future," but that there is a "roadmap" for struggling countries to get the virus under control.

Why it matters: A record 230,000 new cases of COVID-19 were reported to the WHO on Sunday, as total infections approach 13 million worldwide.

Updated 28 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 11 a.m. ET: 12,945,828 — Total deaths: 569,878 — Total recoveries — 7,147,807Map.
  2. U.S.: Total confirmed cases as of 11 a.m. ET: 3,308,165— Total deaths: 135,219 — Total recoveries: 1,006,326 — Total tested: 40,282,176Map.
  3. Public health: Houston public health system CEO says situation is "dire."
  4. Eduction: College fraternity houses could become hotbeds.
  5. 🎧 Podcast: PPE shortages strike again amid surge.
1 hour ago - Health

SPACs are the new IPOs

Illustration: Aïda Amer/Axios

Churchill Capital Corp. III has agreed to acquire health-cost management services provider MultiPlan at an initial enterprise value of $11 billion, as such deals continue to proliferate as alternatives to IPOs.

Why it matters: This is the largest special purpose acquisition company (SPAC) merger, and it also includes the largest private investment in public equity (PIPE) associated with a SPAC. Existing MultiPlan owners like Hellman & Friedman and General Atlantic will roll over more than 75% of their collective stake and own over 60% of the public company.