Mexico economy starts year well despite Trump’s threats

4/12/2017 Reuters

shutterstock_101964346The election of Donald Trump as U.S. president last year raised the specter of economic recession in Mexico, sent the country’s peso into a tailspin, and threatened local industry such as car making.

But four months on, Mexican automobile output is accelerating fast, unemployment is at a nine-year low, and the peso has been one of the world’s best-performing currencies in 2017.

Since diplomatic ties reached a nadir in January with the cancellation of Mexican President Enrique Pena Nieto’s planned meeting with Trump, business confidence has slowly returned.

Fears that Trump could tear up the NAFTA trade treaty have subsided, and so far the hit to foreign investment has been slight, said Gilberto Fimbres, head of Mexican employers’ federation Coparmex in the northern border city of Tijuana.

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