Mexico trade war

Manufacturing is rebounding from its June swoon

Data: Federal Reserve Bank of Philadelphia; Chart: Axios Visuals

The Fed's regional manufacturing indexes are bouncing back in July after an awful June swoon, none more so than the Philadelphia region, which rose to 21.8 from a 0.3 reading in June.

Why it matters: It was the highest result in a year for the survey.

Mexico becomes first country to pass USMCA trade deal

Mexico's President Enrique Pena Nieto US President Donald Trump and Canadian Prime Minister Justin Trudeau signing a trade deal
Mexico's President Enrique Pena Nieto (L) US President Donald Trump (C) and Canadian Prime Minister Justin Trudeau, sign a new free trade agreement in Buenos Aires, on November 30, 2018, on the sidelines of the G20 Leaders' Summit. Photo: Saul Loeb/AFP/Getty Images

Mexico became the first nation to ratify the U.S.-Mexico-Canada trade deal on Wednesday with little opposition within the Mexican Senate, reports Politico.

Details: The new North American free-trade agreement may not be in its final format as House Democrats demand changes to the deal regarding enforcement, labor, the environment and drug pricing, per Politico. Mexico must sign off on any future changes.