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 has threatened new, higher tariffs on two of California’s biggest trade partners, China and Mexico. The state’s workers and economy could feel the most impact.