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No more tacos for you…

24 June 2016

Brexit is going to have some effect here.  The peso fell 7% against the dollar overnight, but that has more to do with market panic than anything else (I hope).  One unintended consequence for the British is that Mexico’s free trade agreements with the UK were based on it’s membership in the European Union, and may be nullified.  Mexican exports to Britain only account for 7.5 percent of Mexican trade with the European Union (and how much of that is into Scotland or Northern Ireland, I can’t say).  Mexico’s trade with the UK amounted to 7.5% of total trade within the EU. Mostly booze, gold, auto parts… and, naturally, narcotics.

The British haven’t been as active in the Mexican economy as they once were, but between banking (HSBC), oil field servicing (BP) and the liquor industry, investing about 8 US billion dollars here over the last 15 years, but that includes money just passing through British investment firms.

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