Why the Mexican peso is on a tear
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 12 August 2025
⏱️ 12 minutes
🧾️ Download transcript
Summary
EU leaders will hold a call with US President Donald Trump ahead of his meeting with Russian leader Vladimir Putin, and the Mexican peso has emerged as an unlikely winner from Trump’s trade war. Plus, Trump has opened the door to Nvidia selling advanced AI chips to China, and the FT’s Kathrin Hille explains what’s next for Taiwan after the country’s failed recall vote.
Mentioned in this podcast:
EU leaders to hold call with Trump ahead of Putin meeting over Ukraine
Peso soars as ‘carry trade’ reignites after tariff delays
Trump opens door to Nvidia selling advanced AI chips to China for a fee
Why Taiwanese fear China could take over from within
Today’s FT News Briefing was produced by Fiona Symon, Sonja Hutson, and Marc Filippino. Additional help from Blake Maples, Michael Lello, David da Silva and Gavin Kallmann. Our acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | For over 40 years, Equinoor has been an energy partner to the UK. |
| 0:04.1 | During that time, we've played our part in the switch from coal to gas, |
| 0:07.1 | and we're working hard to help the UK's energy transition. |
| 0:10.1 | We may not have all the answers yet, but we're determined to find them. |
| 0:13.5 | Equinor, an energy company, searching for better. |
| 0:16.9 | 99.6% of Equinor's energy output is oil and gas. |
| 0:20.5 | Our investment in renewables and low-carbon solutions has increased from 4% in 2020 to 27% in 2024. |
| 0:27.5 | Find out more at equinore.com. UK. |
| 0:32.2 | Good morning from the Financial Times. Today is Tuesday, August 12th. And this is your FT News briefing. |
| 0:39.2 | Europe wants more of a say in what goes down between Donald Trump and Vladimir Putin on |
| 0:44.1 | Friday. And the Mexican peso? Doing really good right now. Plus, where does Taiwan go from here |
| 0:51.1 | now that its recall vote failed? I'm Mark Filipino, and here's the news you need to start your day. |
| 1:06.4 | European leaders plan to meet U.S. President Donald Trump this week ahead of a sit-down with Russian President Vladimir Putin. |
| 1:13.5 | Trump and Putin are scheduled to meet in Alaska on Friday to talk about the future of Ukraine. |
| 1:18.5 | And Germany has convened a virtual meeting on Wednesday to discuss more ways to put pressure on Moscow. |
| 1:25.2 | Leaders from countries including France, the UK, and Poland will be there, |
| 1:29.0 | so will Ukrainian president Vladimir Zelensky. Now it's worth noting that Zelensky will not be at |
| 1:34.6 | Friday's meeting between Trump and Putin. Trump has suggested so-called territorial swaps between |
| 1:40.9 | Russia and Ukraine, in which Russia would take control of some Ukrainian land, |
| 1:45.5 | European and Ukrainian leaders have pushed back on this suggestion. |
| 1:55.6 | Mexico was one of the early losers of U.S. President Donald Trump's ongoing tariff war. In February, Trump previewed |
| 2:02.9 | a blanket 25% levy on America's southern neighbor. But several months on, the country is in a much |
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