2017-01-12 Thu

The Mexican peso fell to an all-time low of 22.04 per dollar on Wednesday. This was because Donald Trump warned that U.S. auto companies would face a high tax for products made in Mexico. The tax would be used to build a southern border wall between Mexico and the USA.

Trump welcomed Ford and Fiat Chrysler’s plant expansion plans in the United States and warned General Motors, a major investor in Mexico, to do the same as he said that taxes would be increased on Mexican-made autos.

Mexican officials are against the idea of creating a wall that separates the two nations.