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Trump Proposed 45 Percent Cut in Mexico Aid from U.S. Spending


May, 24 2017
watermark Economic news

On Tuesday, the U.S. spending reserved for foreign aid for Mexico and Central America are to be reduced as proposed by the President Donald Trump. The budget was proposed to trim as much as $3.6 trillion government spending in the following ten years for 2018 budget proposal.Although, this may not get a legislative approval as to how it is currently with other departments cuts especially in the State department.

Mexican aid worth $87.66 million will be lessened over 45 percent from the 2016 expenditure when Trump's proposal is approved. The budget cut will be transferred to the Mexican military including counterterrorism funds and other government programs. One of the officials commented that these deals are focused on bolstering border security and fight against corruption that may have hindered transnational criminal organizations. There will be a meeting to discuss the employment and security concerns in Central America in June.

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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.