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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We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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