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Look What Happened to the Peso After Mexico’s President Cancelled Trump Meeting

After Mexico’s President Enrique Peña Nieto took to Twitter to announce that he wouldn’t meet with President Donald Trump next week, the peso took a tumble.

Business Insider reported:

The peso was down by 1.2% at 21.3175 per dollar as of 11:57 a.m. ET.

The currency had been up by as much as 0.8% at 20.9358 per dollar at about 8:50 a.m. ET.

That followed a tweet sent earlier on Thursday morning from Trump’s personal Twitter account that said: “The U.S. has a 60 billion dollar trade deficit with Mexico. It has been a one-sided deal from the beginning of NAFTA with massive numbers of jobs and companies lost. If Mexico is unwilling to pay for the badly needed wall, then it would be better to cancel the upcoming meeting.”

Peña Nieto was initially scheduled to meet with Trump next Tuesday in what would have been the duo’s first bilateral meeting since the new US administration took office.

Mexican opposition figures had urged Peña Nieto to cancel the meeting to protest Trump’s demand that Mexico pay for a wall on its border with the US, according to reports on Wednesday. In a recorded address that was nationally televised, Peña Nieto said, “I regret and reject the decision of the US to build the wall.”

Trump, in an interview with ABC News that aired on Wednesday, noted that he wants construction on the wall at the southern border to begin as soon as it can. ABC News’ David Muir asked if that would mean it could begin in just months, Trump replied: “I would say in months, yeah.”

Trump has made it clear that times are certainly changing.

Peña Nietocan deny it all he wants, but as Trump has noted; the wall is going to get built and they will definitely pay for it.