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After Mexico’s President Cancels Meeting With Trump, the Peso Plummets

peso

There was supposed to be an historic meeting between Mexican President Enrique Peña Nieto and President Donald J. Trump next week.

But the Mexican President changed his mind after Trump’s demands that Mexico pay for the wall, which would help slow the massive flood of illegal aliens entering America.

Paying for the wall is a sensible approach to the massive problems Mexico has caused along our southern border. America has many tools available to force Mexico to pay – ie. trade tariffs – and Mexico will end up paying one way or another, even if they don’t want to.

Liberals in the media like to pretend this is Trump forcing Mexico to write a massive check for the wall. That’s not remotely true, and Trump is too smart of a negotiator to start with that demand.

So Nieto, who is scared that Mexican voters will be upset at him, decided to cancel the meeting with Trump entirely.

Now, the Mexican peso is falling thanks to this move. This is NOT what President Nieto wants to see:

The peso was tumbling Thursday after Mexico’s president, Enrique Peña Nieto, announced he had canceled a meeting scheduled for next week with President Donald Trump.

The peso was down by 1.2% at 21.3175 per dollar as of 11:57 a.m. ET.

The currency had been up by as much as 0.8% at 20.9358 per dollar at about 8:50 a.m. ET.

“This morning we have informed the White House that I will not attend the meeting scheduled for next Tuesday with the @POTUS,” Peña Nieto tweeted, according to an online translation.

Nieto is learning the hard way that Mexico will really pay for this wall, eventually. And additional political moves against Trump will almost surely cost Mexico more than is necessary.

Trump is playing hardball in defense of American sovereignty. If Nieto keeps playing games, he will cause more damage.

What do you think about Mexico’s currency plummeting after their president canceling a meeting with Trump? Please leave us a comment (below) and tell us.

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