Breaking: Trump steps up the ante on trade wars by imposing tariffs on Mexican imports, (MXN - 1.85%)

FXStreet Team FXStreet

In recent trade, risk-off flows have piled up on the announcement that the U.S. will impose up to 25% tariffs on ALL Mexican imports until Mexico does something about the illegal flow of immigrants into the United States.

USD/MXN has shot up a high of 19.5942 from 19.1749 before the announcements.

Key notes:

Mexican Deputy Foreign Minister:

If president trump's threat to impose tariffs is carried out it would be disastrous.
Says Trump move is extreme.

White House Chief of Staff, Mulvaney:

All Mexican products will be subject to tariffs.
White House Chief of staff Mulvaney: Immigration tariff is separate from the trade agreement, hope we don't need to move to 25% tariffs.

This is a developing story...

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FXStreet Team

FXStreet

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