Trump says Impeachment inquiry could derail USMCA, Mexico market bushed

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Trump says Impeachment inquiry could derail USMCA, Mexico market bushed

On Wednesday, the 25th of September 2019, US President Donald Trump had cautioned that an impeachment inquiry against him might hurt a congressional approval of a USMCA (United States, Mexico & Canada free trade treaty) deal, a trade pact of North American nations which replaced a former NAFTA deal last year.

In point of fact, followed by US President Donald Trump’s offbeat comments on ratification of a USMCA deal in the US Congress, Mexican stock market was slumped alongside Mexican Peso as investors appeared to be seeking safety on defensives fleeing riskier assets.

On top of that, while US Representative Lighthizer said later on Wednesday (September 25th) that he was confident US Congress would vote to ratify a USMCA deal, Trump told reporters in front of Lighthizer that he knew “those people better" adding, “I don’t think Nancy Pelosi will have time.

She’s wasting her time on a, you know let’s use a word that they used to use a lot: a ‘manufactured crisis. I don’t know whether or not they’re going to have time to do any deals. I don’t think they can do any deals.

You know, we were working on guns, gun safety”. If truth is to be told, speaker of 114th US House of Congress, Nancy Pelosi alongside other Republican lawmakers, who were controlling both houses of US Congress for the first time since 109th Congress, had announced on Tuesday (September 25th) that the democrats of US House of Representatives had initiated a formal impeachment inquiry on to US President Donald Trump, accusing him of alleged seeking of foreign aid to rub out his Democratic rival Joe Bidden ahead of a 2020 US Presidential election.

Meanwhile, followed by the reveal of Trump’s comment, Mexican stock market was plunged more than 1.20 per cent during extended trading, while the Mexican currency shed another 0.9 per cent against its American counterpart to a three-week low reading.