Market News
Mexican peso rallies after touching 3-year low as tariffs delayed - REUTERS
Summary
- US tariffs on Mexican, Canadian products delayed a month
- Analysts predict Mexico recession if tariffs persist
NEW YORK/LONDON, Feb 3 (Reuters) - The Mexican peso rallied out of a selloff on Monday after 25% U.S. tariffs on Mexican products, expected to be imposed Tuesday, were delayed by a month as Mexico agreed to reinforce its northern border.
"Our teams will start working today in two areas: security and commerce," Mexican President Claudia Sheinbaum wrote in a social media post that announced the pause in tariffs and collaboration between both countries and triggered the peso rally.
