- Trump the turns the screw on Mexico and Mexico is responding.
- Mexican Foreign Minister Marcelo Ebrard to hold a news conference in DC at 7:30am on Monday.
Mexican Foreign Minister Marcelo Ebrard is reported to be holding a news conference in DC at 7:30am on Monday (6:30am/CDMX time) to talk about the meetings planned with Donald Trump's administration this week.
The follows the recent escalation of trade wars on the part of the Trump's administration whereby Trump announced intentions to slap a 5%-25% tariff on all Mexican imports in an effort to force Mexico to respond to the U.S. requests over illegal immigration.
The Washington Post has reported that the administration, however, has not set any precise immigration reduction targets for Mexico. also, the article notes that acting White House chief of staff Mick Mulvaney said on Fox News, "conditions have to get dramatically better, and they have to get better quickly…There are specific things the Mexicans can do.’’
Mulvaney said on NBC News’s “Meet the Press” that the catalyst for Trump’s surprise threat last week was the crossing of 1,036 immigrants from Tijuana across the border into the United States in a single incident.
Mexico’s president responds
- Weekend top stories from the financial press
Further to the end of last week's risk off state of play that came about following Trump's Mexico tariff announcements in early Asia on Friday, CNBC wrote a piece noting that Mexico’s president on Saturday hinted his country could tighten migration controls to defuse U.S. President Donald Trump’s threat to impose tariffs on Mexican goods. This news came after a news conference in the Gulf of Mexico port of Veracruz, where President Andres Manuel Lopez Obrador said Mexico could be ready to step up such measures in order to reach a deal with the United States. Mexico’s president said he expected “good results” from talks planned in Washington next week – Risk positive.