Second-largest bank in Mexico calls Trump 'biggest risk to Mexican economy'

SAN DIEGO (Border Report) -- Executives of Mexico's second-largest bank, Banamex, say President Donald Trump is the "biggest threat to the Mexican economy during the next four years."

Bank management says Trump's policies have already led to weaker investment in Mexico, political instability, higher inflation and interest rates.

According to the bank, Trump's presidency will be the source of uncertainty in the short and long term. As a result, Banamex doesn't expect the Mexican economy to grow in 2025.

"If tariffs are allowed to remain in place, it will lead us into a significant recession, our government is at a crossroads," said Sergio Kurczyn, Banamex's director of economic studies. "This is an era of skinny cows, it's time to push investment, there is no greater risk than Trump to the stability of our economy."

Kurczyn added that another negative sign for the Mexican economy is that they are seeing fewer remittances of money from the U.S. saying the flow has slowed down by as much as 2.4%.