Financial Daily Dose 6.10.2019 | Top Story: U.S. Reverses Course on Tariffs Set to Hit Mexican Goods Today

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Robins Kaplan LLP

The White House announced on Friday that the US and Mexico reached a deal that it deemed sufficient to keep from levying the threatened 5% tariffs on Mexican goods that was set to take effect today. As details of that deal have emerged, however, officials familiar with the negotiations are raising questions about what, exactly, was “new” about the deal anyway. That bombshell ( and a whole lot more intrigue) via the links – NYTimes and WSJ and Bloomberg and MarketWatch and Marketplace and Law360

Aerospace and defense behemoths Raytheon and United Technologies reached a deal this weekend to combine as part of an all-stock deal that will create a powerhouse with a market value of nearly $166 billion, second only to Boeing in the industry – WSJ and Bloomberg and NYTimes

Meanwhile, in a deal that positively pales by comparison, Salesforce will acquire analytics platform Tableau in an all-stock deal valued at a not-so-tiny $15.33 billion – Bloomberg

Another shot across the bow in the US/Huawei battle last week, this time from China, which summoned “major tech companies including Microsoft and Dell from the United States and Samsung of South Korea, to warn them that they could face dire consequences” if they cooperate with the White House’s ban on “sales of key technology to Chinese companies” – NYTimes and WSJ

These trade battles with Mexico, China, and most of the rest of the world make it an appropriate time to look at how the White House has increasingly “blurr[ed] the line” between national and economic security in order to invoke emergency powers to issue tariffs and other economic sanctions traditionally understood as reserved for “terrorism and other wrongdoing” – NYTimes

Some thoughts on Friday’s lower-than-expected jobs numbers – Marketplace

FedEx announced on Friday that it won’t renew its contract to provide express shipping for Amazon in the U.S., a move that appears to signal Amazon’s own major foray into the shipping business as well as FedEx’s bets on other retailers – NYTimes and WSJ

Law360 gives us a bit of cryptocurrency enforcement analysis by reviewing a year’s worth of regulatory actions involving ICOs and digital currencies – Law360

More top-level shakeups at Uber—in the form of a departing COO and marketing chief—are set to give CEO Dara Khosrowshahi more “direct oversight of the ride-sharing company’s operations” a month after the company’s “disappointing initial public offering” – WSJ and MarketWatch

Because intergalactic supremacy mostly comes down to getting ALL the money (seriously, ALL of it), the Star Wars folks at EA are working on a new multiplayer game built in the mode of rival Epic Games’ runaway smash Fortnite – Bloomberg

On the heels of a near-perfect early summer weekend here in the North, this feature on the state parks all around all of us (seriously, we’re talking more than 8500 scattered across the U.S.) seems just about right – NYTimes

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