Mexican Peso and South African Rand Decline Amid US Tariff Imposition
The Mexican peso and South African rand faced declines after US tariffs were imposed, affecting trade relations and economic stability.
The Mexican peso and South African rand have experienced significant declines in an emerging-market currency slump following the recent imposition of tariffs by US President Donald Trump on key trade partners.
The peso fell to its lowest point against the dollar in nearly three years, prompting Mexican President Claudia Sheinbaum to vow retaliation following Trump's announcement of 25% tariffs on both Mexico and Canada, alongside a 10% levy on China.
Meanwhile, the rand also saw a sharp decline, dropping as much as 2% after Trump declared that the US would cease providing aid to South Africa due to its land expropriation policies.
