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Benzinga
Benzinga
Business
Piero Cingari

US–Mexico Trade Tensions Escalate As Mexican Peso Hits August 2022 Lows: Why Is Auto Industry Most At Risk?

United States Mexico Donald Trump BYD NYSE Wall Street Journal

The trade relationship between the U.S. and Mexico, America's top trading partner in 2023, entered a new phase of tension.

President-elect Donald Trump's recent pledge to impose 25% tariffs on all imports from Mexico and Canada, as soon as he returns to the Oval Office in January, has sent ripples through currency markets and put significant downward pressure on both the Mexican peso (MXN) and Canadian dollar (CAD).

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