As usual, the anti-Trump critics are dead wrong again!
In a move that surprised anti_trump critics, the Mexican peso has risen more than 15% since the inauguration of Donald Trump.
The Washington Times reported:
After diving toward record lows following Mr. Trump’s election in November, the Mexican currency has rebounded by more than 15 percent since Mr. Trump took office in January. The unexpected jump through the first half of 2017 comes despite Mr. Trump’s tough talk on immigration, NAFTA and border security with the U.S.’ third-largest goods trading partner.
The peso’s unexpected strength comes as investors and analysts sense a softening of Mr. Trump’s actual policy toward the North American Free Trade Agreement and relations with Mexico in general, said Matt Gold, a former deputy assistant U.S. trade representative for North America who now teaches law at Fordham University.
“Trump’s campaign rhetoric significantly contributed to the dramatic decline in the peso against the dollar,” Mr. Gold said. “I think the change in rhetoric and NAFTA renegotiation talks have significantly contributed to its rebound against the dollar.”
Mr. Trump repeatedly called NAFTA “the worst trade deal in the history of the world” and threatened to withdraw from it completely within days of taking office. He also repeatedly promised to build a wall on the U.S.-Mexico border to control illegal immigration.
But instead of killing NAFTA, Mr. Trump agreed at the last moment to renegotiate it, with talks to begin in August. And six months into his presidency, construction on a border wall has not even begun.”
Do you think Trump’s border wall will destroy US-Mexico economy?