Bad news! This is serious stuff! However, just one month of data does not make a statistic nor a trend! However, continued observation is recommended.
Total annual remittances have a very significant effect on economies like Mexico and other Latin American countries. I bet, Mexico's new President Claudia Sheinbaum will not be amused.
Let me speculate that legal as well as illegal immigrants out of fear may have stopped making remittances.
A special tax on remittances seems to be an awfully bad idea! If we assume that the usual income taxes/withholding taxes were paid on the remuneration by these remittances senders then it would constitute some kind of double taxation. Hopefully, President Trump will not be foolish!
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