MONEY MASTER

President-elect Donald Trump’s pledge to impose tariffs on the United States' largest trading partners—Canada, Mexico, and China—has sent shockwaves through the auto and tech industries, as companies with significant operations in Mexico brace for potential trade wars. Impact on Asian Automakers Honda Motor : Ships  80% of its Mexican production to the U.S. . COO Shinji Aoyama warned that permanent tariffs could force the company to reconsider its manufacturing footprint. Nissan Motor : Operates two plants in Mexico, producing  505,000 vehicles in the first nine months of 2024 , including models like the Sentra and Versa for the U.S. market. Toyota Motor : Manufactures the  Tacoma pick-up truck  exclusively in Mexico, exporting  230,000 units to the U.S. last year , representing  10% of its U.S. sales. Mazda : Exported  120,000 vehicles  from Mexico to the U.S. in 2023, with President Masahiro Moro stating that tariff resolutions require broader c...

The Mexican peso tumbled to its weakest level in over two years, and Asian currencies retreated as the US dollar rallied after President-elect Donald Trump pledged sweeping tariffs on key trading partners. Trump, set to take office on  Jan 20, 2025 , announced plans to impose a  25% tariff on imports from Canada and Mexico  and an  additional 10% tariff on Chinese imports,  compounding market jitters. The  Mexican peso sank as much as 2.3%  to its lowest level since August 2022, before stabilizing at a  1.7% loss  by 0745 GMT. The  US dollar soared to a 4.5-year high against the Canadian dollar,  while climbing to its strongest level since July 30 against  China’s yuan. EM Asian Currencies Under Pressure Currencies in emerging Asia also faced losses, with the  Malaysian ringgit and Indonesian rupiah declining by 0.4%  each. The  Thai baht fell up to 0.4%,  pressured by concerns over the country’s widening tr...

The   US dollar rallied   while   European stocks tumbled   on Tuesday after President-elect   Donald Trump   announced sweeping   tariff plans   targeting imports from   Mexico, Canada, and China . Market Impact The  STOXX 600 fell 0.7% , led by automakers such as  Volkswagen  and  Stellantis , which dropped between  2.6%-5% . The threat of tariffs on the  European Union  added pressure, with traders anticipating the EU could be next. S&P 500 futures  eased 0.1%, following Monday’s  0.3% gain . Currencies Under Fire The dollar surged  2.3% to 20.75 pesos  and climbed  1% to C$1.4139 , reflecting investor fears that Mexico would bear the brunt of Trump’s tariffs. Offshore yuan weakened to  7.2674 per dollar , its lowest since late July. The euro fell  0.1% to $1.04838 , while the British pound eased  0.2% to $1.2548 . Trump’s Tariff Plan Sweeping Tariffs Announced ...