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Evan Vucci / AP

Companies are starting to export jobs to Mexico again, and at an increasing rate, according to a Bloomberg report.

The exodus: Companies from Illinois to Washington to New Jersey are closing shop or reducing the number of Americans they're employing and sending jobs to Mexico instead. This comes after a flow of jobs to Mexico that seemed to ebb after the election, with notable Trump tweets targeting Ford and Carrier Corp.

What it means: As NYT columnist Paul Krugman puts it, "after a brief hiatus — unclear whether there was any real pause, or just a pause in announcements, but in any case CEOs seem to have decided that NAFTA isn't under much threat." And that's probably because companies are starting to believe that Trump isn't in a position to pursue trade negotiations in a serious way — especially after his approval ratings have fallen to 36%, both his travel bans have been shot down in courts, and his bungled healthcare bill didn't make it to a House vote last week.

...on trade, as on everything else substantive, Trumpism is going to be all huffing and puffing with very little to show for it.

Already, draft documents of NAFTA renegotiations circulating on Capitol Hill are more modest than originally expected and don't get rid of the most controversial provisions, per the WSJ, which reported on the drafts yesterday.

Also worth a note from the column: Krugman's explanation of how protectionism will hurt U.S. jobs is spot on (the "stuff you export is often produced with a lot of imported components, stuff you import often indirectly includes a lot of your own exports") and is worth a full read.

Go deeper

3 hours ago - Politics & Policy

Kellyanne Conway's parting power pointers

Kellyanne Conway addresses the 2020 Republican National Convention. Photo: Nicholas Kamm/AFP via Getty Images

Kellyanne Conway has seen power exercised as a pollster, campaign manager and senior counselor to President Trump. Now that his term in office has concluded, she shared her thoughts with Axios.

Why it matters: If there's a currency in this town, it's power, so we've asked several former Washington power brokers to share their best advice as a new administration and new Congress settle in.

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GOP holdouts press on with plans to crush Cheney

Screenshot of emails to a member of Congress from individuals who signed an Americans for Limited Government petition against Rep. Liz Cheney. Photo obtained by Axios

Pro-Trump holdouts in the House are forging ahead with an uphill campaign to oust Rep. Liz Cheney as head of the chamber's Republican caucus even though Minority Leader Kevin McCarthy told them to back down.

Why it matters: What happens next will be a test of McCarthy's party control and the sincerity of his opposition to the movement. Cheney (R-Wyo.) is seen as a potential leadership rival to the California Republican.

Democrats aim to punish House GOP for Capitol riot

Speaker Nancy Pelosi passes through a newly installed metal detector at the House floor entrance Thursday. Photo: Drew Angerer/Getty Images

House Democrats plan to take advantage of corporate efforts to cut funding for Republicans who opposed certifying the 2020 election results, with a plan to target vulnerable members in the pivotal 2022 midterms for their role in the Jan. 6 violence.

Why it matters: It's unclear whether the Democrats' strategy will manifest itself in ads or earned media in the targeted races or just be a stunt to raise money for themselves. But the Capitol violence will be central to the party's messaging as it seeks to maintain its narrow majorities in Congress.