Fact Check: President Trump Has Nothing To Do With the Decline of the Peso

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Rex Tillerson and John Kelly are visiting Mexico this week to discuss NAFTA, tariffs, trade deficits, border walls, and deportations. In other words, pretty much everything Mexicans hate about Donald Trump. The LA Times reports:

[Trump] has threatened to pull out of the North American Free Trade Agreement and has proposed a tax on imports from Mexico and other countries with which the U.S. has a trade deficit. Both plans pose a serious threat to Mexico, which sends roughly 80% of its exports to the U.S., and whose peso has plummeted amid fears of what the Trump administration may do.

I keep reading this over and over and over. So let’s take a look at the value of the peso:

The peso has indeed fallen, losing nearly half its value recently. However, this decline started in the middle of 2014 and it’s been rolling steadily along ever since. If there’s any evidence that Donald Trump has anything to do with this, I sure can’t see it. Can we please retire this fable?

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Thank you!

We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

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