#WalletConcet $WCT @WalletConnect
🇲🇽💔 MEXICO RECORDS THE SHARPEST DROP IN REMITTANCES IN 12 YEARS DUE TO FEAR OF DEPORTATIONS
💸 Remittances fell by 3.5% in the first months of 2025, the most pronounced decline since 2013. Mexicans in the U.S. are saving their money for fear of being deported or are afraid to go out to send money due to the risk of being arrested by ICE.
The impact is devastating: remittances account for 3.7% of the Mexican GDP and exceed ALL income from tourism, oil, and manufacturing. They are literally the main source of foreign exchange for the country. More than 5 million Mexican households depend on this money.
Trump wants to impose a 3.5% tax on ALL remittances. This would generate $22.2 billion for the U.S. but would affect the poorest families. The average remittance is only $385 - money for food, medicine, and rent, not luxuries.
🚨 President Sheinbaum urgently sent diplomats to Washington to negotiate. She said: "We will insist that they do not tax remittances." Almost 1,000 people signed a petition to the U.S. Senate to stop the tax.
Less remittances = more migration. If families in Mexico do not receive money, more people will try to cross the border. It is a vicious cycle that no one seems to understand in Washington.
