The Mexico peso dropped to an all-time low and Trump is to blame


Talking in New York at a news meeting, Trump emphasized that the United States would begin assembling a southern outskirt divider after he took office one week from now. He said Mexico would repay the cost either through a duty or an installment. The Mexican cash recovered some ground in the wake of passing the mental 22 peso hindrance to exchange at 21.77 for every dollar at 13:09 a.m. eastern (1709 GMT). The IPC stock record .MXX fell 0.73 pct. to 45,550.
The peso was the most noticeably bad performing real money a year ago, debilitating 20 percent against the dollar as Trump surrounded the U.S. administration. The devaluation has accelerated in 2017 after Trump advised real automakers a week ago to expect high assessments on vehicles made in Mexico that are sold in the United States. On Wednesday, Trump praised Ford (F.N) and Fiat Chrysler (FCHA.MI) for reporting plant developments in the United States. He said General Motors, another real financial specialist in Mexico, ought to go with the same pattern, emphasizing the risk of new expenses on Mexican-made cars.
He said he would not sit tight for transactions with Mexico to be finished before beginning to construct a divider along the two nations. “I could wait about a year and a half until we finish our negotiations with Mexico which will start immediately after we get into office, but I don’t want to wait. Mexico, in some form, will reimburse us.” said Trump.
He said his Vice President-elect Mike Pence was “driving a push to get last endorsements through different offices and through Congress for the divider to start.” Mexico has over and over said it will never pay for an obstruction it considers an affront to national poise.
“Neither today, nor tomorrow nor never Mexico will pay for that stupid wall. If Trump wants a monument to his ego, let him pay for it!!,” tweeted previous president Vicente Fox, amid the news meeting. Fox called Trump “a bully and a bluff.”