Mexico still insists that it is not paying for the wall while President Donald Trump says they will be paying for the wall. The Mexican President was planning on meeting with President Trump in the U.S. but has now decided to cancel their meet.
The value of the Peso has fallen after Mexican President Enrique Peña Nieto said that he wouldn’t visit with Trump in light of Trump’s latest comments.
From Business Insider:
The peso was tumbling Thursday after Mexico’s president, Enrique Peña Nieto, announced he had canceled a meeting scheduled for next week with President Donald Trump.
The peso was down by 1.2% at 21.3175 per dollar as of 11:57 a.m. ET.
The currency had been up by as much as 0.8% at 20.9358 per dollar at about 8:50 a.m. ET.
Mexican President Enrique Pena Nieto said on Thursday he had scrapped plans to meet Donald Trump next week after the U.S. president tweeted Mexico should cancel the meeting if it was not prepared to pay for his proposed border wall.
“This morning we informed the White House that I will not attend the work meeting planned for next Tuesday with the POTUS,” Pena Nieto said on Twitter, referring to Trump.
“Mexico reiterates its willingness to work with the United States to reach accords that favor both nations.”
We will see what happens in the upcoming weeks.