Global investors are fleeing Mexico’s financial markets, sending the peso to record lows on mounting concerns that Donald Trump’s trade policy could end the country’s privileged status among developing countries.
The peso on Wednesday tumbled to another all-time low against the dollar as Mr. Trump pledged to change U.S. trade policy with Mexico. “Mexico has taken advantage of the United States,” he said during his press conference. “It’s not going to happen anymore.”
The Mexican currency weakened 0.3%—at 21.8609 from 21.8009 late Tuesday—again frustrating Mexican central-bank efforts to slow the currency’s decline. Bank officials said Tuesday that they spent $2 billion last week to prop up the peso, which has weakened 16% against the dollar since the U.S. election.
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Trump said Mexico would pay for the wall and this is just the beginning. Once he calls in the 6 billion trade defecate they will come to the table.
ReplyDeleteAnd let's not forget all the dollars that will stop flowing back to Mexico after The Donald kicks out the illegal immigrants!
ReplyDeletenow that companies are canceling deals by my count Mexico is down about 2 billion in future investments. Mexico can not afford to hold out on this. They need us way more then we need them. They will pay for this wall in the end directly or indirectly.
ReplyDeleteglobalists attitude need to be traded for a nationalist attitude.
ReplyDeleteand foreign aid
ReplyDeleteThey are already begging him for a meeting.
ReplyDeleteHe will probably let them stew for a little while..
2:39 you are right they pay one way or the other.
ReplyDeleteYea, let's celebrate the hardship this will cause for millions of people and their children. How christian of you. The worse it gets there, the harder people will try to get here.
ReplyDeleteWe need to get our house in order, and they need to do the same! No one wants them to suffer, do we not suffer paying their citizens free ride in this country?
DeleteWall building
ReplyDelete