The peso holds steady amid tariff uncertainty: Friday’s mañanera recapped

The United States’ on-again, off-again tariffs were erstwhile again a large taxable of treatment astatine President Claudia Sheinbaum’s Friday greeting property conference.

Sheinbaum’s last property league of the week came a time aft United States President Donald Trump announced he had “agreed that Mexico volition not beryllium required to wage Tariffs connected thing that falls nether the USMCA Agreement” until April 2.

That announcement came 2 days aft the United States imposed broad 25% tariffs connected imports from Mexico, and soon aft a telephone betwixt Sheinbaum and Trump.

No concealed pact with Trump 

A newsman asked Sheinbaum whether Trump asked for “something else” during their call connected Thursday.

“What bash you mean thing else,” retorted the president.

“I don’t know, much security,” said the reporter, probing to spot whether Sheinbaum had made immoderate further committedness a period aft she agreed to deploy 10,000 National Guard troops to Mexico’s bluish borderline arsenic portion of a woody with Trump to stave disconnected the implementation of tariffs successful aboriginal February.

Sheinbaum rejected a reporter’s accusation that she mightiness person agreed to supply much borderline deployments oregon akin information guarantees connected her telephone with U.S. President Trump. (Elizabeth Ruiz/Cuartoscuro)

“I made the committedness to not lie, not bargain and not betray the people,” Sheinbaum said.

“We don’t lie, determination is nary dialog successful the acheronian with the United States. No,” she said.

Sheinbaum reiterated that she spoke astir Mexico’s information results successful her telephone with Trump.

She stressed that her authorities is taking enactment against organized transgression “not lone truthful that fentanyl doesn’t scope the United States, but besides due to the fact that we person a work with the radical of Mexico to execute bid and security.”

Sheinbaum said she “simply” told Trump that Mexico is “going to proceed working” to combat transgression and proceed “collaborating” with the United States connected information issues “within the model of the wide [security] statement reached astatine a gathering successful Washington past week.”

Mexican officials including Foreign Affairs Minister Juan Ramón de la Fuente and Security Minister Omar García Harfuch discussed information issues with Secretary of State Marco Rubio, Secretary of Defense Pete Hegseth and different U.S. officials astatine a gathering successful the U.S. superior connected Feb. 27.

In a societal media station connected Thursday announcing his determination to suspend tariffs connected imports from Mexico, Trump said that helium and Sheinbaum “are moving hard, together, connected the Border, some successful presumption of stopping Illegal Aliens from entering the United States and, likewise, stopping Fentanyl.”

Trump announced the statement to hold the implementation of astir tariffs until April connected his societal level Truth Social. (Donald Trump/Truth Social)

“Thank you to President Sheinbaum for your hard enactment and cooperation,” helium added.

Mexican peso mostly withstood tariff pressure 

Sheinbaum highlighted that the Mexican peso didn’t endure a large depreciation contempt the United States’ imposition of 25% tariffs connected imports from Mexico connected Tuesday.

“The system of Mexico is beardown and it was reflected successful the peso. … When they announced 25% tariffs, yes determination was a tiny devaluation, but it was successful centavos, it didn’t adjacent get to 21 [to the US dollar],” she said.

According to Reuters, the peso did admit to 21 to the greenback connected Tuesday, but Bloomberg recorded the currency’s weakest presumption astatine 20.98 to the dollar.

The Bank of Mexico’s USD:MXN complaint astatine the adjacent of trading connected Friday was 20.27. Based connected cardinal slope information the peso appreciated 1.5% this week.

Sheinbaum attributed the peso’s show aft U.S. tariffs were implemented to “confidence successful the Mexican economy, the enactment the Bank of Mexico does … [and] planetary reserves.”

Tariff suspension ‘opens a precise large accidental for investment’ 

Sheinbaum said that Trump’s announcement that determination won’t beryllium tariffs connected astir imports from Mexico (at slightest until aboriginal April) “obviously opens a precise large accidental for concern successful our state erstwhile again.”

Investment successful Mexico “has a batch to bash with the interior marketplace and exporting,” she said.

“Obviously if you’re going to put to export, [Trump] saying that ‘there won’t beryllium tariffs and determination is an statement [between Mexico and the United States]’ opens up a batch of possibilities,” Sheinbaum said.

Sheinbaum highlighted opportunities to fortify the home marketplace and trim Mexico’s dependence connected imports. (Galo Cañas/Cuartoscuro)

“Now, retrieve that we privation to powerfully favour concern not conscionable for exporting, but besides to boost the interior marketplace and reduce imports from different parts of the world, peculiarly Asia,” she said.

Earlier successful Sheinbaum’s Friday property conference, the Mexico state manager of Latin American e-commerce elephantine Mercado Libre announced the institution volition put US $3.4 cardinal successful Mexico this year, portion the president of Sempra Infrastructure confirmed that that steadfast is processing 2 caller projects successful Baja California astatine a outgo of US $3.5 billion.

Mexico received astir US $37 cardinal successful overseas nonstop concern past year, according to preliminary information from the national Economy Ministry.

By Mexico News Daily main unit writer Peter Davies ([email protected])