Mexican Peso Drops 1.4% Following Trump’s Tariff Confirmation
In recent minutes, Trump’s tariff decisions have caused significant market jitters. On Friday, the Mexican peso was trading at 20.7213 per U.S. dollar, marking a 1.40% depreciation compared to Thursday’s closing rate.
This decline—equivalent to a loss of 29.9 cents—followed an announcement from White House Press Secretary Karoline Leavitt, confirming that on February 1, the United States will impose a 25% tariff on imports from Mexico and Canada and a 10% tariff on Chinese products.
“President Donald Trump will implement 25% tariffs on Mexico and Canada and a 10% tariff on China tomorrow for allowing the entry of illegal fentanyl into our country, which has killed tens of millions of Americans,” Leavitt stated in a press conference.
Initially, reports suggested that Trump was reviewing the details of the tariffs, with potential exemptions being considered. Reuters even cited U.S. administration officials who hinted at a possible postponement until March 1. This speculation briefly strengthened the Mexican peso (+1%) and the Canadian dollar while causing the U.S. Dollar Index (DXY) to drop by approximately 0.6%.
However, within minutes, the White House denied these claims and reaffirmed the February 1 deadline.
Country Tariffs and Market Outlook
Press Secretary Karoline Leavitt clarified to the media that these tariffs are not the beginning of a trade war but rather a measure aimed at combating fentanyl trafficking. She reiterated that the tariffs will remain at 25% for Mexico and Canada and 10% for China.
Volatility is expected to persist until the stock market closes and may extend into next week as the market assesses the impact of these trade measures or awaits a response from the Mexican government.

