The President of the United States, Donald Trump, expressed his consideration of implementing tariffs of 25% on imports from Canada and Mexico. During a question-and-answer session with reporters from the Oval Office, the president mentioned that this measure could take effect soon, on February 1. He also communicated that he had had a conversation with Canadian Prime Minister Justin Trudeau.
In his statements, Trump asserted that he believes Mexico and Canada are allowing a large number of people to cross the border, as well as the flow of fentanyl. These statements generated immediate repercussions in the financial sector, with the Mexican peso being one of the main affected.
The Mexican currency experienced a depreciation in its value after Trump's announcement, with a drop of 1.27%, trading at 20.7350 per dollar. This decline reversed much of the gains it had shown during the regular session. Currency market operators pointed out that the comments from the U.S. president will generate volatility in the exchange rate in the coming days.
Since Trump was elected in November, the threat of imposing tariffs has kept the Mexican peso under pressure due to the implications it would have on the country's economy. Specialists in the field predict that the currency will continue to weaken in the near future, with projections indicating it could reach 21 pesos in the coming days if the quotation remains above 20.54 per dollar.
