While readers are aware by now of the intricate trade link that binds Mexico to the US, it is more than merely autos and avocados. As the chart below shows, of the $302 billion in total Mexican exports (offset by $179 billion in imports), the largest two categories were electrical machinery & equipment, followed by nuclear reactors, boilers machinery & equipment, with motor only coming in third spot.
Just over a month ago, President-elect Trump and Mexico's richest man, Carlos Slim, enjoyed what was described by Trump as "a lovely dinner with a wonderful man" at Mar-a-Lago in Palm Beach, Florida. Many viewed the meeting a start toward thawing relations with Mexico after a hard-fought campaign in which Trump relentlessly hammered our southern neighbor over jobs and illegal immigration. Per the Washington Post:
Is the Mexican president looking to salvage something from yesterday's dramatic diplomatic devastation?
According to AP, shortly before his meeting with Theresa May, President Donald Trump spent one hour talking on the phone to the president of Mexico, Pena Nieto, amid "rising tensions" over Trump's proposed wall along the border. Two administration officials confirmed Friday's call.
The former Presidente of Mexico, Vincente Fox, has been trolling President Trump on twitter for about a year now, over that fucking wall.
Somehow Vincente thinks he has a choice when it comes to paying for the wall or not, considering the fact that billions of dollars are wired in from Mexican citizens living in America illegally on an annual basis and the fact that they enjoy a $60b surplus with us. Nevertheless, it makes for good media.
US equity futures are unchanged, trading near record highs after digesting a spate of earnings results on Thursday. The dollar pared its weekly loss as the yen and pound slid, while gold headed for its longest slump in three months. European equities fell and markets in Asia were mixed, while markets in China, South Korea, Taiwan and Vietnam were closed Friday for the start of Lunar New Year. Hong Kong, Malaysia and Singapore had shortened sessions.