Peso Rises After Head of White House Trade Council Says He Sees 'Opportunity' with Mexico Adam Samson - The Financial Times | |
go to original March 15, 2017 |
Mountains of Uninvested Corporate Cash, Not Mexico, Most Responsible for Job Loss (TheRealNews)
The Mexican peso pushed higher on Wednesday after Donald Trump’s top trade adviser issued upbeat remarks on the country, toning down the administration’s often heated rhetoric regarding America’s neighbor to the south.
Peter Navarro, head of the White House trade council and seen as a confidant to Mr Trump on trade matters, told Bloomberg that he can foresee a regional manufacturing “powerhouse” that would include the US, Mexico and Canada.
“We have a tremendous opportunity, with Mexico in particular, to use higher rules of origin to develop a mutually beneficial regional powerhouse where workers and manufacturers on both sides of the border will benefit enormously,” he said.
...The peso was up by 1 per cent on the US dollar to MXN19.48 shortly after Mr Navarro’s remarks. It has rallied by 6.4 per cent against the buck this year, but remains down by 5.9 per cent since election day.
Read the rest at The Financial Times
Related: U.S. Sees Mexico as Part of Regional `Powerhouse,' Navarro Says (Bloomberg)
Related: Trump’s Trade Adviser Tries to Sell Mexico On ‘North America First’ (New York Magazine)
Related: Mexican FM Says US Withdrawal from TPP Gives Bilateral Trade Deals a Chance (Sputnik)
Related: This Is How Mexican Companies Should Prepare for the End of NAFTA (Nearshore Americas)
Related: Top Mexico Candidate AMLO Blasts Trump, Says Can't Wait to Redo NAFTA (Bloomberg)
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