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Here's your morning brief for Monday, July the 14th. I'm Azhar Sukhri for the Wall Street Journal.

The EU and Mexico will face 30% U.S. tariffs from August 1st unless they strike trade deals with Washington.

Those weekend warnings from President Trump come as both the EU and Mexico have been negotiating with the US,

with an EU spokesman signaling the block is ready to finalise the outline of a deal. That said, the European Commission is set

to present members with a second package of retaliatory tariffs today that it could deploy

if negotiations fail. Speaking yesterday, Commission President Ursula von der Leyen talked up those measures

but stopped short of endorsing an instrument that would let it impose levies on US services.

Fresh trade figures from China now show the country's exports topped expectations last month,

rising 5.8% compared to a year earlier.

That comes as Washington and Beijing reached a June truce that saw both sides roll back most of their

tariffs, leading to just a 16% drop in U.S.-bound shipments compared to a more than 34% tumble in May.

But economists warn the trade relationship isn't back to normal,

with the recovery and orders potentially caused by US importers

stockpiling before the tariff rollback expires August the 12th.

We are exclusively reporting that Elon Musk's SpaceX has agreed to invest

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