"If Mexico is unwilling to pay for the badly needed wall, then it would be better to cancel the upcoming meeting," President Donald Trump tweeted Thursday morning.
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And just hours later, Trump's press secretary announced that the president was considering a 20 percent border tax on Mexican goods crossing the border.
These simple words had a direct effect on the Mexican currency, the peso, which began falling sharply in comparison with the U.S. dollar. It fell as much as 1.4%, a significant decline in just a few hours. It recovered some of its losses, but remained down by more than 1%.
One peso is currently worth less than 5 cents.
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