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.

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.

Donald Trump won the election after making vows to impose tariffs on imported goods a major part of his campaign.

President-elect Donald Trump has pledged to levy tariffs on imported goods as part of his second-term economic strategy.