# Peso plunges vs the US dollar after Trump announces Mexican import tariffs

> The Mexican peso fell more than 2.5% against the dollar on May 31 after President Trump said the U.S. would impose a 5% tariff on all Mexican imports from June 10. The tariff would rise in steps until it reached 25%, and it would stay in place until Mexico curbs illegal migration. The peso dropped as much as 3.5% intraday, its largest one-day fall since October.

- Date: 2019-05-31 · published 2019-05-31T12:00:00.000Z
- Category: trade · region US · magnitude high
- Page: https://feedsoft.ai/events/59297-peso-plunges-vs-the-us-dollar-after-trump-announces-mexican-import-tariffs
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Tariffs on all Mexican imports threaten a market that takes about 80% of Mexico's exports, which could cut U.S. feed and food exports into Mexico and weigh on feed demand. The weaker peso also makes Mexican buyers' dollar-priced purchases more expensive.

## Read by commodity

- CORN: bearish ▼
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2025-02-28 | [Mexican Peso plunges as Trump confirms March tariffs, Peso faces weekly losses](https://feedsoft.ai/events/26262-mexican-peso-plunges-as-trump-confirms-march-tariffs-peso-faces-weekly-losses.md) | -2.4% | +0.5% |
| CORN | 2019-05-31 | [Mexican peso erases all its 2019 gains after Trump tariff threat](https://feedsoft.ai/events/59300-mexican-peso-erases-all-its-2019-gains-after-trump-tariff-threat.md) | -2.5% | +3.0% |
| CORN | 2019-05-31 | [Peso plunges 3% on United States tariff announcement](https://feedsoft.ai/events/59302-peso-plunges-3-on-united-states-tariff-announcement.md) | -2.5% | +3.0% |
| CORN | 2025-03-28 | [Peso depreciates in response to Trump auto tariffs announcement](https://feedsoft.ai/events/25799-peso-depreciates-in-response-to-trump-auto-tariffs-announcement.md) | +0.5% | +5.5% |
| CORN | 2025-03-04 | [China announces new duties on US agricultural imports as US tariffs take effect - Fastmarkets](https://feedsoft.ai/events/8147-china-announces-new-duties-on-us-agricultural-imports-as-us-tariffs-take-effect.md) | +3.2% | +4.7% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/05/31/peso-plunges-vs-the-us-dollar-after-trump-announces-mexican-import-tariffs.html

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