Mexico braces for the fallout of a Trump presidency

Radio commentators gathered at a bar in Mexico City as the American election results came in on Tuesday. (Pedro Pardo/Agence France-Presse — Getty Images)
Radio commentators gathered at a bar in Mexico City as the American election results came in on Tuesday. (Pedro Pardo/Agence France-Presse — Getty Images)

By Azam Ahmed, Kirk Semple and Paulina Villegas / New York Times

For Mexico, the nightmare came true.

Perhaps no country aside from the United States itself had as much at stake in the American presidential election as Mexico did.

Then early on Wednesday, it watched as Donald J. Trump became the next American president, bringing to power a candidate whose central promises have included building a wall between the two countries, upending decades-old trade deals and deporting millions of Mexican immigrants.

A volatile peso suffered its largest drop in nearly 20 years, a market stand-in for the general sentiment across Mexico as Trump was elected to the most powerful office in the world.

For many, his election set back years of carefully cultivated efforts to improve the cross-border relationship, one that has been historically fraught. His election promises a turbulent financial future for Mexico, which relies on America as an economic lifeline, both in terms of trade and remittances.

“It’s an unmitigated disaster,” said Jorge Castañeda, a former Mexican foreign minister and professor of politics and Latin American studies at New York University. “There are very few tools to fix the relationship.”

http://www.nytimes.com/2016/11/10/world/americas/mexico-donald-trump-peso.html

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