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The Peso Is Tumbling After Mexico's President Says He Won't Meet With Trump
Business Insider ^ | 01/26/17 | Elena Holodny

Posted on 01/26/2017 9:33:41 AM PST by Enlightened1

The peso is tumbling after Mexico's president, Enrique Peña Nieto, says he won't meet with US president Donald Trump.

The peso is down by 1.2% at 21.3175 per dollar as of 11:57 a.m. ET.

The currency was up as much as 0.8% at 20.9358 per dollar around 8:50 a.m. ET.

"This morning we have informed the White House that I will not attend the meeting scheduled for next Tuesday with the @POTUS," Peña Nieto tweeted , according to an online translation.

This follows Trump's earlier tweet on Thursday morning: "The U.S. has a 60 billion dollar trade deficit with Mexico. It has been a one-sided deal from the beginning of NAFTA with massive numbers of jobs and companies lost. If Mexico is unwilling to pay for the badly needed wall, then it would be better to cancel the upcoming meeting."

Peña Nieto was initially scheduled to meet with Trump on Tuesday in what would be the duo's first bilateral meeting since the new US administration took office.

Mexican opposition figures urged President Enrique Peña Nieto to cancel the meeting to protest his demand of payment for the border wall, according to reports on Wednesday. Peña Nieto said in a recorded address that was nationally televised, "I regret and reject the decision of the US to build the wall."

Trump told ABC News anchor David Muir in an interview broadcast Wednesday night that he wanted construction on the wall to begin as soon as possible. When Muir asked whether that meant construction would start within months, Trump said, "I would say in months, yeah."

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Constitution/Conservatism; Mexico; News/Current Events
KEYWORDS: 3rdworldhellhole; buildit; meet; mexico; peso; trump; tumbling
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To: MeneMeneTekelUpharsin

I bet when Trump heard that corrupt little screw worm presidente cancelled, a smile could be detected on Trumps face.

Make an example out of these SOBs Trump.


41 posted on 01/26/2017 9:56:20 AM PST by dragnet2 (Diversion and evasion are tools of deceit)
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To: Tammy8

Yeah, and gun control will mean no more gun crimes, too.
Enforcement will be so easy to effect.


42 posted on 01/26/2017 9:57:01 AM PST by babble-on
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To: RummyChick

ROFL...and what about those ‘Jeb Taco Bowls’, I bet they are really cheap now...


43 posted on 01/26/2017 9:57:29 AM PST by HarleyLady27 ('THE FORCE AWAKENS!!!' Trump/Pence: MAKE AMERICA GREAT AGAIN!!!)
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To: Red Badger

I was looking at property in Cabo and things don’t look all that cheap too me - and tee times aren’t cheap. Looks to me like they just price in dollars regardless of peso value.


44 posted on 01/26/2017 9:57:38 AM PST by Aria (2017: Stay strong POTUS - the left lost control of trillions & will do anything to regain power.)
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To: Enlightened1

Looks like Mexico is already paying.


45 posted on 01/26/2017 10:00:22 AM PST by grumpygresh (When will Soros be brought to justice? Crush the vermin, crush the Left.)
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To: Aria

That is true, senorita....................


46 posted on 01/26/2017 10:00:28 AM PST by Red Badger (If "Majority Rule" was so important in South Africa, why isn't it that way here?.......)
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To: Seaplaner

The VALUE of being here is rising sharply. That’s the REAL incentive. We’re destroying the Mexican economy and making dollars worth greatly more. People will take the risk to come because there will be no alternative.


47 posted on 01/26/2017 10:00:40 AM PST by babble-on
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To: babble-on
You do realize that a cheaper peso helps their trade balance with the US? right? Oh of course you don’t.

LOL! Don't forget - they also threatened to pull out of NAFTA - that'll do wonders for their end of the trade gravy train....

48 posted on 01/26/2017 10:01:28 AM PST by trebb (Where in the the hell has my country gone?)
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To: Leep

Shouldn’t we declare war on Mexico if Mexico’s cartels are waging war against us?

Mexico’s involvement in the illicit drug trade in the United States:

Marijuana: Mexico is the *number one* foreign supplier of marijuana to the United States, and marijuana is thought to be the top revenue generator for Mexican drug cartels.

Cocaine: Mexico does not produce cocaine, however, Mexican cartels move Columbian cocaine through South and Central America and into the United States. An estimated *93* percent of cocaine headed to the US from South America moves through Mexico.

Methamphetamine: Mexico remains the *biggest* foreign supplier of methamphetamine to the United States, and Mexican drug cartels set up labs to manufacture meth on both sides of the border, controlling labs in Southern California as well as domestically.

Heroin: While Asia and the Middle East remain the biggest producers of heroin, Mexican black-tar and brown heroin is on the rise. In fact, 39 percent of heroin identified under the DEA’s Heroin Signature Program (HSP) in 2008 came from Mexico, making Mexico the source country for many of the heroin abusers west of the Mississippi River.

Mexico’s government and the drug cartels work hand-in-hand in drug and human trafficking into our country.
Declare war on Mexico. Polk was right. Pershing, Patton ... all right.

Standing orders to Border Patrol should be: “Suspected Mexican cartel mules on American soil? Shoot on sight.”

If they want to shoot back, bring back one or two of our legions from the other side of the world being used to protect the borders of some lousy Arab -stan.


49 posted on 01/26/2017 10:01:47 AM PST by tumblindice (America's founding fathers, all armed conservatives)
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To: MeneMeneTekelUpharsin
Mr. presidente is going to learn the hard way, this is not the old days where Mexico and it's people were ALLOWED to willy nilly defecate in our faces in our on daily basis.

Mr. presidente is sorely mistaken.

50 posted on 01/26/2017 10:03:55 AM PST by dragnet2 (Diversion and evasion are tools of deceit)
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To: tumblindice

51 posted on 01/26/2017 10:04:08 AM PST by RummyChick
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To: Enlightened1

Cool, I need some stuff from Mexico, it’ll be cheaper now.


52 posted on 01/26/2017 10:04:16 AM PST by tiki
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To: Enlightened1

"Adios, Mofo!"

53 posted on 01/26/2017 10:05:19 AM PST by dfwgator
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To: Enlightened1

Mexico should pay for the wall because of its refusal to clamp down on illegal entry to the USA.


54 posted on 01/26/2017 10:08:19 AM PST by Socon-Econ
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To: babble-on

It is easy to see why your name is babble-on, fits you perfectly.

There is no relationship of border security to gun control in any way whatsoever. You know that.


55 posted on 01/26/2017 10:09:18 AM PST by Tammy8 (Please be a regular supporter of Free Republic !)
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To: babble-on
Of course a cheaper peso gives the US greater leverage over Mexico. Mexico is the annual recipient of $26 billion in remittances from the US. The amount exceeds the sale of oil to the US. We can attach a surcharge to the remittances. Also, if Mexico wants to engage in a trade war with the US, it would be the bigger loser.

Wait until the illegal aliens from Mexico start flooding back to Mexico. It happened in a more limited amount when AZ passed its e-verify law (upheld by SCOTUS). The Mexican mayors along the border met with AZ legislators telling them the influx of their citizens from the US was causing havoc in their communities.

Mexico Is Angry Mexican legislators expressed concern that an Arizona law would prompt an influx of Mexicans into Sonora from Arizona

56 posted on 01/26/2017 10:10:34 AM PST by kabar
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To: Responsibility2nd

Least Cuba is paying its bills with Rum or Cigars.


57 posted on 01/26/2017 10:11:06 AM PST by Joe Boucher (Her ass belongs in prison along with the jive ass punk obammy.)
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To: Enlightened1

I guess he didn’t see that coming!?


58 posted on 01/26/2017 10:11:12 AM PST by Samurai_Jack (War is cruelty, there is no use trying to reform it; the crueler it is, the sooner it will be over.)
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To: babble-on

The cost of coming and being here illegally goes up every day as well. You have to factor that in. People always have an alternative.


59 posted on 01/26/2017 10:11:21 AM PST by Tammy8 (Please be a regular supporter of Free Republic !)
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To: RummyChick

You have to go Paco.


60 posted on 01/26/2017 10:13:02 AM PST by tumblindice (America's founding fathers, all armed conservatives)
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