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 ...
Cheaper lettuce!..................
The wall should reduce some of the mexican drug smuggling into the US as well.
How long before the Mexican President comes groveling to Trump with a check? Any guesses?
It seems like Trump is saying that Mexico needs to pay for the wall or we’ll cancel NAFTA.
Pretty smart. I say go ahead and cancel NAFTA anyway.
Looks like Spanish to me.
http://www.cnn.com/2013/04/04/world/americas/enrique-pea-nieto-fast-facts/index.html
It doesn’t matter.
They do not have the manufacturing and technology base to attract foreign investment no matter how cheap they make the only asset they have that others are attracted to, cheap labor.
The devaluations of their history have all been disastrous for them.
And now additionally, they are facing the specter of crushing tariffs.
Mexico will be on life support soon if they continue to play games. Their political leadership will in the next weeks be haggling over how much will they need to pay for the Wall and begging the USA if they can they please have their labor involved.
Not long.
Not with the wall and stricter enforcement it won’t.
People simply have NO idea how correct the above statement is. No idea...
People simply have NO idea how correct the above statement is. No idea...
Trump’s a busy guy thanks to NObama, so if Nieto isn’t ready to talk turkey: how Mexico will pay for the wall we need to to keep his countrymen out of our country, then don’t waste our time.
America has had a quarter-century of egg-sucking political cucks. The way Trump is doing it is the way it should be done.
I wonder if Trump told the Treasury to short the peso?
Yeah, but think of all the Mexican Bagpipes that’ll just be laying around for the picking.
George Clooney going to lose a lot of profit from his Tequila brand. LOLOLOLOLOLOLOLOL
... or you can just go to a U.S. beach and spend your money HERE.
And you realize they import 211 billion dollars a year in goods and countless more in services from the US, which will stop as they no longer can afford it.
If the border is not being secured, hands are tied on Border Patrol agents doing their job, deportation is very unlikely as in the past you would be correct.
With a major crackdown taking place correcting all of those things not so much. It won’t take long for word to spread that coming here will not be easy, staying here will be harder, odds of getting deported growing by the day. I also expect they will find the jobs and freebies drying up shortly.
Just building the wall or any real barrier and increased enforcement is a message that illegally immigrating to the U.S. is no longer welcome and we are serious about that.
We have been as a country welcoming illegal immigration with open arms for many years, that has encouraged all of this beyond all belief.
More BP agents free to do their jobs, more detention facilities for illegals and a border wall will increase illegal immigration? You must be one of those experts I see on TV.
Respectfully, this is nonsense.
Just off the top, there must many incentives that can be removed, eg. welfare, medical care, making it a fed crime for businesses to hire illegals, making it a felony to vote, or to abet voting illegally (thus disqualifying any chance of citizenship), making it a deportable offense to drive without insurance, etc.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.