Peso smacked after Mexican president cancels meeting in latest international Twitter spat
Pena Nieto was expected to visit the U.S. next week to discuss immigration and trade issues, and Mexican officials have been meeting with the Trump administration ahead of time. Though Trump seemed to make conciliatory comments about Mexico on Wednesday, the president reversed that sentiment by tweeting Thursdaythat the meeting should be canceled if Mexico won't agree to pay for the wall.
The Mexican president tweeted back, in Spanish, that he informed the White House that he would not be attending the meeting. White House spokesman Sean Spicer later said that the wall could be paid for with a 20 percent tax on all imports from Mexico, but the White House later backtracked and said the 20 percent tax was just an example of what could be done.
I am going to like this Age of Twitter ... no bull s h i t filtered through diplomats or politicians - BOOM what is everyone really thinking
Never attribute to malice that which is adequately explained by stupidity.
- Robert J. Hanlon.
A cheaper peso, should this move hold, makes their exports cheaper to the rest of the world. On a competitive basis, this little Twitter spat that you are so enamored with makes Mexican goods more competitive than ours.
Neither of you will understand this of course. Nor will you understand that a tariff only serves to make US consumers pay higher prices and retaliatory tariffs on our goods. (hell our illustrious new President doesn't get this either...so why should a couple of his blind supporters get it?)
“The truth will set you free, but first it will make you miserable.” - President James A. Garfield