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Mexican President Andres Manuel Lopez Obrador. Photo: Alfredo Estrella/AFP via Getty Images

Two months after President Trump threatened to withhold aid from Central American countries for failing to stop a migrant caravan heading toward the U.S. border, the administration has pledged $5.8 billion worth of private and public development funding for Central America and $4.8 billion for southern Mexico, the AP reports.

Why it matters: The goal of the aid is to promote more stable security and economic conditions to encourage potential migrants to stay in their host nations instead of making the dangerous trip to the U.S. border. It's not yet clear if Mexico will provide anything in return for the billions of dollars worth of aid. The Washington Post has previously reported that Mexico and the U.S. have been working on a deal that would force all U.S. asylum-seekers to remain in Mexico until their applications are processed.

Go deeper

Swing voters oppose Texas abortion law

Protesters at a rally at the Texas State Capitol. Photo: Jordan Vonderhaar/Getty Images

All 10 swing voters in Axios’ latest focus groups — including those who described themselves as "pro-life" — said they oppose Texas' new anti-abortion law.

Why it matters: If their responses reflect larger patterns in U.S. society, this could hurt Republicans with women and independents in next year's midterm elections. The swing voters cited overreach, invasion of privacy and concerns about frivolous lawsuits jamming up the courts.

1 hour ago - Politics & Policy

Scoop: Biden bombs with Manchin

Then-Vice President Joe Biden conducts a ceremonial swearing-in for Sen. Joe Manchin in 2010. Photo: Tom Williams/Roll Call

President Biden failed to persuade Sen. Joe Manchin (D-W.Va.) to agree to spending $3.5 trillion on the Democrats' budget reconciliation package during their Oval Office meeting on Wednesday, people familiar with the matter tell Axios.

Why it matters: Defying a president from his own party — face-to-face — is the strongest indication yet Manchin is serious about cutting specific programs and limiting the price tag of any potential bill to $1.5 trillion. His insistence could blow up the deal for progressives and others.

Biden blindsides Europe with new AUKUS alliance on China

Photo illustration: Sarah Grillo/Axios. Photo: Melina Mara/The Washington Post via Getty Images

President Biden is constructing and deepening new alliances to strengthen the U.S. position in its showdown with China, but he risks alienating longstanding allies in the process.

Why it matters: Biden heralded a new agreement to help Australia acquire nuclear submarines as part of a trilateral security pact with the U.K. and the U.S. as an "historic step" to update U.S. alliances to face new challenges. The message from French foreign minister, Jean-Yves Le Drian, was quite different.