A range of experts, from Nobel Prize-winning economists to an internet-famous menswear writer, have a message for Americans who voted for Donald Trump based on his promises to bring down prices: This likely won’t go how you want.

Trump said he would set a tariff of 25 percent on the country’s largest trading partner if it didn’t close the border, ratcheting up as high as 100 if that didn’t work.

The slump in the peso, which reached 20.8 to the dollar after the race was called for Mr Trump, its lowest rate in two years, illustrates the scale of the economic damage that investors believe Mexico could suffer.