The Mexican currency continued a downward slide against the dollar after US President Donald Trump floated an idea how to make Mexico pay for the border wall. White House Press Secretary Sean Spicer suggested a 20 percent tax on imports from the country, which could help to finance the initiative. This pushed the Mexican currency down one percent to 21.3 pesos against the greenback. Since the beginning of the year, the peso has plunged nearly three percent against the

dollar, and the currency is down over 16 percent since Trump’s election on November 8. “If you tax that $50 billion at 20 percent of imports – which is, by the way, a practice that 160 other countries do – right now our country’s policy is to tax exports and let imports flow freely in, which is ridiculous. By doing it that we can do $10 billion a year and easily pay for the wall just through that mechanism alone,” said Spicer. READ MORE