Mexican Peso Weakens After Top Trump Economic Aide Resigns
In the wake of the news of White House Director of the National Economic Council Gary Cohn's resignation, it was reported that the peso currency fell more than 0.5 percent. Over the past year, the peso's value has fluctuated due to concerns over NAFTA negotiations and, more recently, the possibility of new tariffs being imposed by the United States on steel and aluminum.
International Trade attorney Carlos Véjar told Reuters that Cohn's departure removes "a moderating influence on protectionist tendencies inside the White House."
"However, the main concern for Mexico is NAFTA, not the steel tariffs," Mr. Véjar added.