Poor Mexico just can't catch a break.
After its currency crashed to record lows this week after Ford cancelled plans to build a $1.6 billion plant in Mexico, prompting the central bank to intervene and sell $1 billion USD to stabilize the currency, moments ago Trump lobbed another shot at Mexico, this time threatening Toyota with paying a big border tax if it building its new pant in Baja instead of the US.
Just around 1:15pm Eastern, Trump tweeted: "Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax"
Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax.
— Donald J. Trump (@realDonaldTrump) January 5, 2017
Sure enough the selling in the Peso has resumed, and it is now back to where it was before Banxico wasted $1 billion in reserve to push it higher.
It's not just the peso though: TOYOTA ADRS DROP TO SESSION LOW ON TRUMP TWEET.
