U.S. soldiers at the southern border in April. Photo: Herika Martinez/AFP/Getty Images

The Trump administration is sending more than 2,100 additional troops to the southern border, the Pentagon said in a statement Wednesday.

The big picture: 1,000 Texas National Guard and 1,100 active duty troops will be sent to the border, as President Trump's rule requiring immigrants to seek refuge in a 3rd country before applying for asylum in the U.S. comes into effect. The troops will join about 4,500 active duty and National Guard troops already at the border, per Reuters.

Go deeper: It's taking longer and longer to become a legal immigrant

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Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 3 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.