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MEXICO: Government Consulting On Tariff Response, USDMXN Falls To New 2025 Low

MEXICO
EM BulletMexicoBulletEmerging Market NewsNorth America
  • Speaking during President Sheinbaum’s daily press conference earlier, Economy Minister Ebrard said that the government is holding a consultation process with companies as it considers possible tariff tools in the face of the April 2 deadline.
  • Noting that tariffs on aluminium and steel are a bad idea, he said that the government will use any tools necessary to find the best solution for the country.
  • USDMXN has extended the move lower in recent trade, piercing key support at 20.1343, to reach a new 2025 low of 20.0776 at typing.
  • Separately, newswires are running comments from Banxico’s Mejia, which appear almost identical to his comments made yesterday on a Banorte podcast. He indicates the committee are weighing the potential impact of tariffs on the recalibration of monetary policy, and that the peso continues to act in an orderly manner.
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  • Speaking during President Sheinbaum’s daily press conference earlier, Economy Minister Ebrard said that the government is holding a consultation process with companies as it considers possible tariff tools in the face of the April 2 deadline.
  • Noting that tariffs on aluminium and steel are a bad idea, he said that the government will use any tools necessary to find the best solution for the country.
  • USDMXN has extended the move lower in recent trade, piercing key support at 20.1343, to reach a new 2025 low of 20.0776 at typing.
  • Separately, newswires are running comments from Banxico’s Mejia, which appear almost identical to his comments made yesterday on a Banorte podcast. He indicates the committee are weighing the potential impact of tariffs on the recalibration of monetary policy, and that the peso continues to act in an orderly manner.