Mexico's peso hits record low on Trump talk of wall, auto tax

Trump Mexico talks over wall 'will start immediately'

Trump said on Friday that Mexico would repay the United States for the wall, a day after news emerged that the New Yorker's transition team was exploring getting the Republican-led Congress to vote to approve the funding.

"I could wait about a year and a half until we finish our negotiations with Mexico, which will start immediately after we get to office", Trump said.

The wall has been a bone of contention between Trump and Mexico since the businessman launched his presidential campaign in June 2015, accusing Mexico of sending rapists and drug dealers across the border into the United States. "But I don't want to wait".

"That will happen, whether it's a tax or whether it's a payment-probably less likely that it's a payment-but that will happen", he said.

The Mexican peso took hit when Trump won in the USA presidential elections in November. And then I would say, 'Who's going to pay for the wall?' And people would all scream out-25,000, 30,000 people 'cause nobody has ever had crowds like Trump has had, you know that. "Mexico in some form, and there are many different forms, will reimburse us and they will reimburse us for the cost of the wall", Trump said. "There's still a lot of concern in markets about the U.S. -Mexico relationship going forward, a lot of concern about NAFTA".

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"I hope that General Motors will be following (Ford and the others' reversals) and I think they will be", he said.

Trump continued, "Reports went out last week, 'oh, Mexico is not going to pay for the wall because of a reimbursement.' What's the difference?" Mexican stocks fell following Trump's comments, with the iShares MSCI Mexico Capped ETF (EWW) down 1.3% at $41.41 a share. I wish our politicians were so smart.

"I don't blame them for taking advantage of the United States".

Meanwhile, Mexico's new foreign minister today said that there is "no way" that his country will pay for the wall. We're going to have the wall.

Videgaray said in a Radio Formula interview that Trump's actions have caused concern, adding "that is why this (negotiation) process is so important, to dispel this uncertainty".

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