Mexico Pivots as Trump Announces Tariffs

U.S. President-elect Donald Trump at a SpaceX rocket launch on 19 November. Image: Brandon Bell / Getty Images North America / Getty Images via AFP.

U.S. President-elect Donald Trump promised to impose 25% tariffs on all goods imported from Mexico and Canada and an “additional” 10% on Chinese imports as a response to irregular border crossings and drug trafficking. He said the measures would be implemented on “day 1” of his term.

“This Tariff will remain in effect until such time as Drugs, in particular Fentanyl and all Illegal Aliens, stop this Invasion of our Country!” Trump posted on Truth Social. All three currencies trended downward on the news. The Canadian dollar fell to a four-year low, while the Mexican peso had its worst day since 2022.

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by Cobus van Staden

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