Canada's Minister of Foreign Affairs, Mexico's Economy Minister, and U.S. Trade Representative Bob Lighthizer. Photo: Ronaldo Schemidt/AFP/Getty Images

Mexico’s economy minister, Ildefonso Guajardo, said he does not think we will have a NAFTA deal wrapped up by Thursday, the deadline that would allow the U.S. Congress to vote on the package before the next Congress is sworn in next January.

Temper that: Trump’s Director of the National Economic Council, Larry Kudlow, told an Axios audience today that his optimism about the deal overall is “not great.”

Why it matters: If the blue wave really is coming this year to Capitol Hill, it is possible that the makeup of Congress next January will not back Trump’s moves to rewrite NAFTA and could derail the next proposal comes down the pike.

The other side: Canada’s Justin Trudeau: “There is very much an eminently achievable outcome...and we are very close.”

Be smart: Mexico has said it will continue negotiating past this Thursday, regardless of which Congress — old or new — will be voting on the renegotiation.

  • Yes but: U.S. Trade Representative Bob Lighthizer has threatened a retreat from the deal as a hardline. To be determined if he actually takes the hard line.

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8 states set single-day coronavirus case records last week

Data: Compiled by Axios; Map: Danielle Alberti/Axios

8 states set new highs last week for coronavirus infections recorded in a single day, according to the COVID Tracking Project (CTP) and state health departments. Montana, West Virginia, and Wyoming surpassed records from the previous week.

Why it matters: Cases and hospitalizations are rising in Michigan, a state that initially fought the pandemic with strict mitigation efforts, alongside states that took less action against the spread of the virus this spring.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Politics: Trump says if Biden's elected, "he'll listen to the scientists"Herd immunity claims by top Trump adviser are "pseudoscience," infectious-disease expert says.
  2. Map: 38 states, D.C. see surge in cases.
  3. Health: Coronavirus hospitalizations are on the rise — Fauci says he's "absolutely not" surprised Trump got coronavirus.
  4. Business: Consumer confidence surveys show Americans are getting nervousHow China's economy bounced back from coronavirus.
  5. Sports: We've entered the era of limited fan attendance.
  6. Education: Why education technology can’t save remote learning.
Dion Rabouin, author of Markets
4 hours ago - Economy & Business

The Fed is starting to question its own policies

Illustration: Aïda Amer/Axios

Several officials at the Fed are beginning to worry about asset bubbles and excessive risk-taking as a result of their extraordinary policy interventions, James Politi writes for the Financial Times, citing interviews with multiple Fed presidents and members of the Board of Governors.

Details: Some are now pushing for "tougher financial regulation" as concerns grow that monetary policy is "encouraging behavior detrimental to economic recovery and creating pressure for additional bailouts."