Mexican Peso Drops as Tariff Deadline Looms: Trump Says 25% Duties Start Tuesday

Puerto Vallarta, Mexico - The Mexican peso weakened against the U.S. dollar in Monday’s trading session, pressured by U.S. President Donald Trump’s announcement that tariffs on Mexico and Canada will go into effect on Tuesday. Investors had been hoping for a postponement, but the president indicated there was “no chance” of avoiding the duties, rattling currency and equity markets.