🌐🌾 Wheat falls following the renewal of an agreement that allows Ukraine to safely export grains out of key Black Sea ports, although the duration of the latest extension was disputed.

📎 Bloomberg

🇹🇭 Thailand has decided to restart a potash mining project that has been dormant for decades as the Ukraine war continues to disrupt the global fertilizer supply chain.

📎 Nikkei Asia

🇺🇸🇲🇽 Blinken says cartels control parts of Mexico, as AMLO downplays fentanyl smuggling.

📎 Fox News

🇺🇸🇲🇽 QUESTION:
"Are the drug cartels in control of parts of Mexico not the government?" 

BLINKEN:
"I think it's fair to say yes.”

📎 Jose Diaz Briseno

🇺🇸🇲🇽 "Only one thing will solve the fentanyl crisis" -- Cooperation between Biden and Mexican president AMLO is poor right now, but the US needs to work with Mexico to stop influx of meth and fentanyl.”

📎 Washington Post

🇺🇸🇲🇽 U.S. Senator Tommy Tuberville:

“I’ve been sounding the alarm about Mexico’s mistreatment of Vulcan Materials for more than a year. Now Mexico has executed a hostile military takeover of an American company’s facility.

This has to stop. It’s time for Joe Biden to step up and do his job.”

📎 Twitter

🇲🇽📉 President Lopez Obrador Is Squandering Mexico’s Economic Potential

Even though automotive manufacturers such as Audi, BMW, Tesla, and Ford are making big new investments in producing battery-powered cars in Mexico, there’s a sense among foreign executives that Mexico’s manufacturing sector is simply running on auto-pilot during the Lopez Obrador administration. President Lopez Obrador has focused on promoting his own multi-billion dollar projects including a controversial train for tourists, a largely ignored second airport for Mexico City, and an over-budget oil refinery, but he has left industrial policy to be handled on an ad hoc basis by state governments in places including Nuevo Leon, Queretaro, Guanajuato, Chihuahua, and San Luis Potosi.

When it comes to Lopez Obrador’s policies for attracting and coordinating private sector manufacturing investment, Berg is far from optimistic.

“I would argue that we would see even more inflows of foreign investment were it not for Lopez Obrador’s policies. Some of the nearshoring we have seen is happening in spite of Mexico’s policies as opposed to because of them. Most of the supply-chain movement we’ve seen is organic,” Berg added.

📎 Forbes

🇺🇸🇲🇽 Family of mom kidnapped in Mexico inundated with ransom calls, believes she was targeted for being US citizen.

📎 Fox News

🇮🇷🇦🇿 According to intelligence data, Baku plans to establish Turan corridor (connecting Turkey to Central Asia) for itself and its allies (Turkey) by occupying Sivnik province of Armenia.

But why would Iran be dragged into this war?

🧵 by Iran Observer

🇮🇷🇦🇲 “In case of occupation of Sivnik Province of Armenia, the land connection between Iran and Europe and Iran and Russia will be practically destroyed.”

🇷🇺🇺🇸🇸🇾 Armed Russian jets have flown over a U.S. military garrison in Syria nearly every day in March, violating a four-year-old agreement between the U.S. and Russia and risking escalation, according to the U.S. general in charge of air operations in the region.

📎 NBC News

🇨🇳🌐 The China reopening effect that’s been highly anticipated — and at times, perhaps dangerously so — around the world is starting to emerge, the Bloomberg Trade Tracker shows.

📎 Bloomberg

🇨🇳🇺🇸 Xi Jinping’s meetings in Moscow with Vladimir Putin put the Biden administration in an uncomfortable position: on the sidelines as two adversaries discuss a proposal to end war in Ukraine.

📎 Bloomberg

🇨🇳🇷🇺 Xi Jinping and Vladimir Putin vow to ‘significantly increase’ trade between China and Russia.

📎 SCMP

🌐🇨🇳 “Russia surpassed Saudi Arabia as China's largest oil supplier in 2022. But there may not be more room for growth given an apparent ceiling for suppliers at ~25% market share.

That's good news for Iran. A sharp rise in Malaysian + UAE imports points to a recovery in Iran's share.”

📎 @yarbatman

🇨🇳🇪🇺🇺🇸 Beijing’s openly articulated aim to distance Europe from the U.S. (and drive the U.S. in isolation) is well underway with the help of EU’s major economies, foremost that of Germany.

📎 Politico

🇨🇳🌐 “Beijing is working hard to create a perception of balance. But in doing so, it is playing primarily to a few audiences while ignoring the United States: Ukraine, Russia, the Global South, and, to a much lesser extent, Europe.”

📎 Carnegie Endowment