The Mexican peso slumped to a five-month low and the cost of insuring exposure to Mexico’s sovereign debt rose to its highest in two months after U.S. President Donald Trump threatened to impose 5% tariffs on all imports from its southern neighbor.
The Mexican peso sank as much as 3% after Trump said the tariff would start on June 10 and rise to 25% by Oct. 1, unless illegal immigration across the southern border is stopped.
“It’s clearly negative for Mexico, but with this being escalated at a time when the China situation is still not . . .
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