Puerto Vallarta, Mexico – The Mexican peso continued to gain ground against the US dollar in mid-session trading on Thursday, buoyed by optimism following a much-anticipated call between Mexico’s President Claudia Sheinbaum and her United States counterpart, Donald Trump.
According to the Bank of Mexico (Banxico), the spot exchange rate stands at 20.3113 pesos per dollar, reflecting a gain of 4.55 cents (equivalent to a 0.22% appreciation) compared to Wednesday’s official closing level of 20.3568 units. During today’s session, the dollar has traded in a range between a high of 20.5039 pesos and a low of 20.2135 pesos.
The broader sentiment around the US dollar also showed some weakness, with the Intercontinental Exchange’s Dollar Index (DXY)—which measures the greenback against a basket of six major currencies—declining 0.28% to 104.03 points at midday.
Tariff Exemption Extended
In a post-call announcement, President Trump stated that Mexico will be exempt from paying tariffs on goods covered under the US-Mexico-Canada trade deal (T-MEC) until April 2. The temporary exemption follows a prior White House announcement postponing tariffs on automakers and leaving open the possibility of further exemptions.
This development was positively received by President Sheinbaum, who, during her usual morning press conference, emphasized the “excellent” nature of her discussion with President Trump. She credited strong bilateral collaboration for achieving the additional tariff reprieve and praised both nations’ willingness to engage constructively on trade issues.
Dialogue With Canada Stalls
Meanwhile, a separate conversation between President Trump and Canadian Prime Minister Justin Trudeau did not yield similar progress, resulting in Ottawa submitting a request for consultation with the World Trade Organization over the proposed tariffs.
Cooperation on Other Fronts
President Sheinbaum also highlighted continued cooperation on regional priorities. She noted that both the United States and Mexico remain committed to working on migration and security matters, with an emphasis on respecting each country’s sovereignty. According to her, the results so far have been unprecedented and could serve as a foundation for tackling future challenges together.
Overall, the peso’s appreciation underscores investor optimism that the temporary tariff exemption and ongoing diplomacy could ease trade tensions and boost Mexico’s economic prospects. As talks continue, markets will keep a close watch on any developments or further announcements from leaders in North America.
Puerto Vallarta, Mexico - The Mexican peso continued to gain ground against the US dollar in mid-session trading on Thursday, buoyed by optimism following . . .
