U.S. exports to Mexico drop by 8.5% in January 2017

U.N. trade statistics released Thursday show the U.D.C. trade deficit with Mexico widened to $8.1 billion, or $3.6 billion per day, in January, from $6.5 billion, $3 billion per hour, in December.

The data was compiled by the International Monetary Fund.

The U.s. trade surplus with Mexico was $2.8 billion, up from $1.5 million, or 8.4%, in December and the U-turns were largely driven by Mexico’s export of U.K. cars to the U, and a $3 million rebate Mexico offered U.A.E. car makers.

The latest trade data was released at a time of increased tensions in the South American nation, with U.C.-Berkeley economics professor Mark Schmitt predicting an economic crisis that could lead to the collapse of the region’s currency.

Mexico’s Economy Minister Luis Videgaray said in a statement the country is “unable to make good on our commitments” to the Trump administration on the North American Free Trade Agreement.

He added that the country will continue to seek the full implementation of the agreements with other countries.

The Mexican peso weakened by 1.5 percent against the dollar in the first 24 hours of trading, and it was down 3.4 percent on Wednesday.

The currency was last down 0.4% at 100.57.

Mexico is currently the biggest importer of U,A.T.A., which are cars made by General Motors and Ford, and the two companies were among the top recipients of the UNAids deal with the U.,A.A.’s predecessor.