Mexico Peso Tumbles Late Thursday After Trump Confirms Tariffs on Mexico Are Coming

Puerto Vallarta, Mexico - The Mexican peso experienced a significant depreciation against the U.S. dollar on Thursday, January 20, following a surprise announcement by former U.S. President Donald Trump regarding new tariffs on Mexico and Canada. At the close of trading, the dollar shot up to 20.74 pesos, marking a loss of over 1% for the local currency.