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US under Trump Series: Mexico urges its companies not to bid for Trump wall

The rift between the United States and its smaller neighbor continues to deepen over Trump wall, despite recent favorable comments from US commerce secretary Wilbur Ross and trade adviser Peter Navarro. Mr. Ross said that a sensible trade agreement between the United States and Mexico could bolster the battered peso. Peter Navarro said, “We have a tremendous opportunity, with Mexico in particular, to use higher rules of origin to develop a mutually beneficial regional powerhouse where workers and manufacturers on both sides of the border will benefit enormously.”

However, these comments don’t seem to have charmed Mexico, who recently urged its builders and construction companies not to bid for the construction of the “Trump wall” at the southern border of the United States. The government of the United States gave out one and a half week window to submit applications to construct the border wall, which according to the government will be “physically imposing and aesthetically pleasing”. So far about 700 companies have registered their interest in building that wall. The construction work was very lucrative as it would stretch 3200 km and will be 30ft high. Luis Videgaray, Mexico’s foreign minister, urged Mexican companies to think again before bidding and put their country first.

The construction work is likely to be granted to a home company, keeping in mind President Trump’s commitment to ‘America first’. The construction material is also likely to come from within the United States. The deadline for submissions and prototype ends on March 29th. President Trump is expected to be personally involved in the matter.

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March 29 14:00 UTC Released

USPending Sales Change MM

Actual

5.5 %

Forecast

2.4 %

Previous

-2.8 %

March 29 14:00 UTC Released

USPending Homes Index

Actual

112.3 %

Forecast

Previous

106.4 %

March 29 23:50 UTC 281281m

JPForeign Bond Investment

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Forecast

Previous

149.4 bln JPY

March 29 23:50 UTC 281281m

JPForeign Invest JP Stock

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Forecast

Previous

-580.4 bln JPY

March 30 00:00 UTC 291291m

AUHIA New Home Sales m/m

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Forecast

Previous

-2.2 %

March 30 00:01 UTC 292292m

BRTJLP Lending Rate*

Actual

Forecast

7.50 %

Previous

7.50 %

March 30 06:00 UTC 651651m

ZAM3 Money Supply YY*

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Forecast

7.90 %

Previous

7.91 %

March 30 06:00 UTC 651651m

ZAPvt Sector Credit Ext.*

Actual

Forecast

5.21 %

Previous

5.56 %

March 30 07:00 UTC 711711m

DESN State CPI MM*

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Forecast

Previous

0.5 %

March 30 07:00 UTC 711711m

DESN State CPI YY*

Actual

Forecast

Previous

2.4 %

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