The tax deal that was announced by Prime Minister Justin Trudeau and President Enrique Pena Nieto will see Canada and the U.S. pay about $8 billion in taxes each year.
But there’s a catch: the Trudeau government will have to make sure that Mexico doesn’t get any more money.
The Trudeau government wants Mexico to pay more than $1 billion annually.
Mexico says it will take advantage of the deal, but is not expected to do so until 2020.
The Mexican peso is trading at around 58.8 per cent of the U, and the trade deficit has widened over the past five years from about $1.3 billion to more than 1.8 billion pesos ($2.7 billion).
Mexico’s peso fell as much as 3.7 per cent on Monday, trading at 70.4 pesos per U.A.E. dollar, the lowest in three years.
The Trudeau administration is hoping to boost trade by increasing its exports to Canada, the U