# Peso plunges 3% on United States tariff announcement

> The Mexican peso fell more than 3% on May 31 after the U.S. announced a 5% tariff on all Mexican imports to press Mexico on migration. Banks quoted a dollar at 20.05 pesos, and the interbank rate rose to 19.74 from 19.14. Goldman Sachs said the first 5% tariff was likely to take effect as stated, and Mexican President Lopez Obrador called for restraint.

- Date: 2019-05-31 · published 2019-05-31T12:00:00.000Z
- Category: trade · region Mexico · magnitude high
- Page: https://feedsoft.ai/events/59302-peso-plunges-3-on-united-states-tariff-announcement
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A likely 5% tariff on all Mexican imports, rising toward 25%, threatens trade flows that include U.S. feed and food exports to Mexico. Peso weakness also raises the cost of imported feed for Mexican buyers.

## Read by commodity

- CORN: bearish ▼
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2019-05-31 | [Peso plunges vs the US dollar after Trump announces Mexican import tariffs](https://feedsoft.ai/events/59297-peso-plunges-vs-the-us-dollar-after-trump-announces-mexican-import-tariffs.md) | -2.5% | +3.0% |
| CORN | 2018-05-31 | [USD/MXN soars to 14-month highs on US tariffs announcement — Octa](https://feedsoft.ai/events/65225-usd-mxn-soars-to-14-month-highs-on-us-tariffs-announcement-octa.md) | -2.2% | -7.3% |
| 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 | 2023-03-06 | [WHAT THEY ARE SAYING: USTR Announces USMCA Technical Consultations with Mexico on Agricultural Biotechnology \| United States Trade Representative](https://feedsoft.ai/events/36833-what-they-are-saying-ustr-announces-usmca-technical-consultations-with-mexico.md) | -1.2% | +1.1% |

## Sources

- mexiconewsdaily.com: https://mexiconewsdaily.com/news/peso-plunges-3-on-tariff-announcement/

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