Western Spousal Human Relationship Shares Drib 2.44% Equally Mexican President, Enrique Peña Nieto, Cancels Coming Together Alongside President Trump Over Edge Wall Dispute

Embed from Getty Images

Western Union shares opened sharply lower on Thursday, trading every bit depression every bit $19.25 during the firstly hr of the NYSE open. The abrupt drib was largely driven past times incertitude surrounding President Trump's hope to block remittances if Mexican authorities spend upward to pay for the edge wall.

Investors are straightaway starting to seriously regard the rattling existent possibility of a ban on remittance flows to United Mexican States past times U.S. President Donald Trump as well as the knock-on number this volition own got on Western Union's bottom line. WU shares began trading today $19.71 - 1.84% lower than yesterday's unopen at $20.08!

Relations betwixt the Trump direction as well as the Mexican authorities took a nosedive today when Mexico’s President, Enrique Peña Nieto, canceled a coming together that was scheduled for side past times side week, “This morn nosotros informed the White House that I volition non attend the scheduled operate coming together for side past times side Tuesday amongst @POTUS,” tweeted President Nieto.

Esta mañana hemos informado a la Casa Blanca que no asistiré a la reunión de trabajo programada para el próximo martes con el @POTUS.

— Enrique Peña Nieto (@EPN) January 26, 2017

Responding to Nieto's abrupt cancelation, U.S. President Trump sent out his ain tweets that criticized Mexican authorities for non going along amongst his plans for the edge wall, every bit good every bit pointing out how United Mexican States has unfairly benefited from NAFTA over the years:

of jobs as well as companies lost. If United Mexican States is unwilling to pay for the badly needed wall, thence it would live on improve to cancel the upcoming meeting.

— Donald J. Trump (@realDonaldTrump) January 26, 2017

The U.S. has a lx billion dollar merchandise deficit amongst Mexico. It has been a one-sided bargain from the start of NAFTA amongst massive numbers...

— Donald J. Trump (@realDonaldTrump) January 26, 2017

And during his spoken communication to House as well as Senate GOP lawmakers today, Trump said:

"Unless United Mexican States volition process the U.S. fairly, amongst respect, such a coming together is fruitless, as well as I desire to become a dissimilar route. I own got no choice."

While President Trump has non made whatever definitive statements on cutting off cash flows to United Mexican States since his election on Nov 8, he did say during his stimulate that Mexico’s refusal to pay for the wall would live on grounds for blocking billion of dollars inwards annual remittance payments sent past times Mexican immigrants inwards the U.S.

Remittance figures for United Mexican States during November, 2016, exhibit but how seriously Mexican migrants own got taken Trump’s rhetoric on blocking remittances.

In the aftermath of Trump’s election, migrants sent a tape $2.4 billion dorsum to United Mexican States inwards Nov - 24.7% higher than than Nov of 2015 - according to data from the Mexican fundamental bank.

Western Union shares recouped to a greater extent than or less of the initial losses inwards afternoon trading, closing at $19.59 (-2.44% for the day).