After the meeting with Mexico's President was cancelled, the peso took another hit, closing at 21.30. Taco Bell closed its doors and 7-11's all across the nation have been stripped of burritos. This is war.
Twitter diplomacy just ripped the Mexican peso, again.We shall see who pays for that wall.
At its low, the currency was down more than a percent against the U.S. dollar after Mexican President Enrique Pena Nieto canceled a meeting with President Donald Trump, in a dispute over Trump's border wall. It later reversed some of the losses.
Pena Nieto was expected to visit the U.S. next week to discuss immigration and trade issues, and Mexican officials have been meeting with the Trump administration ahead of time. Though Trump seemed to make conciliatory comments about Mexico on Wednesday, the president reversed that sentiment by tweeting Thursdaythat the meeting should be canceled if Mexico won't agree to pay for the wall.
The Mexican president tweeted back, in Spanish, that he informed the White House that he would not be attending the meeting. White House spokesman Sean Spicer later said that the wall could be paid for with a 20 percent tax on all imports from Mexico, but the White House later backtracked and said the 20 percent tax was just an example of what could be done.