The Mexican Peso is recovering some of its overnight losses as President Andres Manuel Lopez Obrador (AMLO) says Mexico does not deserve to be treated like the U.S. pretends, following President Trump's surprise tariffs.
“I believe President Trump will understand that we won't resolve things in this manner. I think there will be a rectification. If it's not immediate, it has to happen. These measures aren't beneficial for Mexicans or Americans. That's my view. We governments need to listen to the people.”
Asked if he's done anything different at the border overnight, Lopez Obrador says the government has already been changing its strategy previously.
“Mexico has data to prove that it's acted on increased migrant flows,” Lopez Obrador says.
“Once we've turned over the data to the U.S., they should come see what we've done in terms of migrant crossings at our borders”
“We need to help so that migrants don't enter the U.S. illegally but we also have to help the people. Nothing of authoritarian treatment, they are human beings.”
Then blamed the whole thing on capitalism?
"This wouldn't be happening if there wasn't so much poverty, injustice in the world."
The end result is the peso paring some of its losses...
Finally, we note that Michael Bloomberg has penned an op-ed attacking Trump's tariff plans, concluding:
"The problems at the border are real — but they’re partly this administration’s fault. More than two years after taking office, Trump has failed to adapt to a change in immigration flows from single Mexican males seeking work to Central American families and unaccompanied minors seeking refuge. He has resorted to draconian methods that have only brought more misery to the most vulnerable while failing to remedy the situation.
A better approach would be to work with Mexico to strengthen its southern border. Instead of cutting off aid to Central America, as Trump plans to do, the U.S. should provide more, and help El Salvador, Guatemala and Honduras defeat the gangs that smuggle migrants north. It also needs to spend more on its overstretched asylum and immigration court systems, and on Border Patrol facilities, so that applicants can be processed as speedily, humanely and fairly as possible.
But more is at stake here than control of the border. From the start, Trump’s failure to understand that trade is a matter of mutual advantage, combined with his contempt for international rules and norms, has threatened the global economic order that the U.S. designed and built. This latest decision suggests that Trump’s willingness to gamble with the country’s prosperity, and that of one-time friends and allies, is greater than previously supposed."
Is he sure he's not running?