Mexico Govt: Treasury Minister Resigns After Trump Visit

The fiery reaction to Trump’s visit increased pressure on Pena Nieto to make changes.

The Mexican leader made no mention of reports that Videgaray played a crucial role in setting up United States presidential candidate Trump’s August 31 meeting with Pena Nieto, which drew scorn in the country.

Donald Trump says Mexico’s president broke the ground rules when he said the men discussed Trump’s proposed wall on the US – Mexican border.

Senior diplomats said Videgaray had been instrumental in arranging the Trump visit. “That’s how well we did”.

The depth of Videgaray and Pena Nieto’s bond was highlighted when both were embroiled in conflict-of-interest scandals, after they were found to have acquired property from a favorite government contractor.

Pena Nieto thanked Videgaray for leading financial reforms during a ceremony at which the president announced he was accepting the resignation. The Washington Post reports Videgaray was hoping the outcome of Trump’s visit would help calm financial markets in the country.

Several members of Pena Nieto’s cabinet are quietly positioning themselves for a run at the presidency in 2018, and Meade’s new role contains pitfalls for anybody with ambitions for higher office.

Two people familiar with the matter said that Videgaray, who had once been one of the favorites to succeed Pena Nieto, will be replaced by Jose Antonio Meade, a former finance minister now serving as the minister for social development.

Meade will be replaced by Deputy Government Secretary Luis Enrique Miranda, the president said at the same ceremony at the Los Pinos presidential palace.

Pena Nieto vowed there would be no new taxes or tax hikes in Meade’s drive to contain debt growth, and said he should give priority to social projects and investments.

“A Mexican senator is proposing legislation to empower the government to retaliate if a USA administration led by Donald Trump inflicts expropriations or economic losses on his country to make it pay for a border wall”.

The president said he also told the real-estate magnate in the meeting that Mexico would not pay for the border wall.

“In cases where the property/assets of (our) fellow citizens or companies are affected by a foreign government, as Donald Trump has threatened, the Mexican government should proportionally expropriate assets and properties of foreigners from that country on our territory”, says his proposal.

Last week, Trump took Mexico up on its offer and sleepwalked through an uncharacteristically banal press appearance with Peña Nieto.

The president came under fire for not responding to Trump’s mention of the wall during a joint news conference after their meeting August 31, something he has since sought to correct.

“We’ll win. Hundred percent, they’re going to pay for the wall”. Pena Nieto fired back his own tweet saying that would “never” happen.

Democratic presidential candidate and former secretary of State Hillary Clinton said Tuesday that President Barack Obama called her when negotiators had reached a deal on Iran’s nuclear program.