# Mexican peso tanks on double hit from US trade talks and ratings | Trade War | Al Jazeera

> The Mexican peso fell as much as 1.4% after Moody's cut Mexico's outlook to negative and Fitch downgraded the sovereign rating to BBB. Trade talks with the US then reportedly failed, raising the prospect of 5% tariffs on Mexican goods from June 10.

- Date: 2019-06-06 · published 2019-06-06T12:00:00.000Z
- Category: trade · region Mexico · magnitude high
- Page: https://feedsoft.ai/events/58811-mexican-peso-tanks-on-double-hit-from-us-trade-talks-and-ratings-trade-war-al
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Tariff threats on Mexico, a major buyer of US corn, soybean meal and other feed inputs, could weaken Mexican import demand and pressure US feed grain exports, while a weaker peso raises Mexican feed costs.

## Read by commodity

- SBM: bearish ▼
- CORN: bearish ▼
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2025-02-26 | [Mexican Peso tumbles on trade war fears, US high yields boost USD](https://feedsoft.ai/events/26263-mexican-peso-tumbles-on-trade-war-fears-us-high-yields-boost-usd.md) | -6.0% | -0.4% |
| CORN | 2018-05-31 | [U.S. hits E.U., Canada and Mexico with steel, aluminum tariffs, sparking trade war](https://feedsoft.ai/events/65226-u-s-hits-e-u-canada-and-mexico-with-steel-aluminum-tariffs-sparking-trade-war.md) | -2.2% | -7.3% |
| CORN | 2017-11-07 | [Don’t Bet the Farm or the (GOP) House on a Trade War with Mexico](https://feedsoft.ai/events/67964-don-t-bet-the-farm-or-the-gop-house-on-a-trade-war-with-mexico.md) | -1.0% | -0.6% |
| CORN | 2023-09-22 | [Why is Mexico standing up to bigger neighbours US, Canada on corn? \| Business and Economy News \| Al Jazeera](https://feedsoft.ai/events/34071-why-is-mexico-standing-up-to-bigger-neighbours-us-canada-on-corn-business-and.md) | +1.4% | +3.0% |
| CORN | 2019-11-20 | [EMERGING MARKETS-Mexican peso leads losses in Latam FX on U.S.-China trade standoff](https://feedsoft.ai/events/56277-emerging-markets-mexican-peso-leads-losses-in-latam-fx-on-u-s-china-trade.md) | -0.2% | +1.6% |
| SBM | 2018-05-31 | [U.S. hits E.U., Canada and Mexico with steel, aluminum tariffs, sparking trade war](https://feedsoft.ai/events/65226-u-s-hits-e-u-canada-and-mexico-with-steel-aluminum-tariffs-sparking-trade-war.md) | -3.2% | -11.4% |
| SBM | 2017-11-07 | [Don’t Bet the Farm or the (GOP) House on a Trade War with Mexico](https://feedsoft.ai/events/67964-don-t-bet-the-farm-or-the-gop-house-on-a-trade-war-with-mexico.md) | -1.5% | +8.0% |
| SBM | 2018-06-26 | [Crop ratings don’t lift trade fog](https://feedsoft.ai/events/8584-crop-ratings-don-t-lift-trade-fog.md) | -1.0% | -1.2% |

## Sources

- aljazeera.com: https://www.aljazeera.com/economy/2019/6/6/mexican-peso-tanks-on-double-hit-from-us-trade-talks-and-ratings

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.