Mexico Cancels Meeting With Trump… Immediately Markets Decimate Their Currency

Mexico Cancels Meeting With Trump Immediately Markets Decimate Their Currency

It is slowly sinking in around the globe that President Donald Trump wasn’t just speaking rhetorically on the campaign trail, but is actually doing what he promised voters he would do.

Mexico may have realized the reality of the situation most starkly after President Enrique Peña Nieto canceled an upcoming meeting with Trump after Trump signed several executive orders dealing with immigration, which included construction of a border wall and a start of the process to renegotiate the North American Free Trade Agreement.

According to Reuters, Peña Nieto responded Wednesday by tweeting, “We have informed the White House that I will not attend the working meeting planned for next Tuesday with @POTUS. Mexico reiterates its willingness to work with the United States to reach agreements that favor both nations.”

Unfortunately for Mexico, the country’s apparently tough stance in the face of a determined President Trump did not sit well with the global currency market, as the Mexican peso plummeted all across the board, FX Street reported.

Business Insider noted that, as of about noon eastern time on Thursday, the peso had dropped more than whole percentage point against the U.S. dollar, exchanging at a rate of rate of roughly 21.31 pesos to the dollar.

In a recorded address that was televised for the Mexican people, Peña Nieto flatly stated, “I regret and reject the decision of the U.S. to build the wall.”

Unfortunately for him, the people of the United States “regret and reject” Mexico’s seeming inability to prevent its own people and others from illegally crossing the border to enter the U.S., thus action is being taken on our side of the border to stop it ourselves, with or without Mexico’s help.

It would be nice if Mexico would get on board with Trump’s plans for making America great again, as the southern neighbor will also certainly reap the benefits from improved security and a growing economy.

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