# USD/MXN soars to 19.24 but retreats after Mexico prolongs steel tariffs - Forex Crunch

> Mexico announced it will extend its 15% steel tariffs for six months on countries without a trade agreement, with textile tariffs of 25-30% also planned. The peso fell to 19.24 on the news but recovered to about 19.13 by the close. Mexico's fourth-quarter GDP grew 0.2% quarter on quarter, slightly below expectations.

- Date: 2019-02-25 · published 2019-02-25T12:00:00.000Z
- Category: policy · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/60804-usd-mxn-soars-to-19-24-but-retreats-after-mexico-prolongs-steel-tariffs-forex
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

The tariff extension is a trade-policy shift that could affect Mexico's import costs and trade relations, but it does not directly touch feed commodities. Any peso weakness would be short-lived unless the policy escalates.

## Read by commodity

- USDMXN: neutral

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2019/02/25/usd-mxn-soars-to-19-24-but-retreats-after-mexico-prolongs-steel-tariffs/

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