Trump policies could hit Mexican migrant remittances, academic warns

Undocumented Mexican migrants in the United States face potential financial exclusion under new policies from the Trump administration, according to Margarita Núñez Chaim, coordinator of the Migratory Affairs Program at Universidad Iberoamericana.

Núñez Chaim warns that these measures could make it harder for migrants to use their Matrícula Consular and ITIN to send remittances, open bank accounts, and pay taxes. This comes after a nearly 4.5% decline in remittances to Mexico in 2025, ending a decade of consistent growth. The academic noted that the environment for undocumented migrants had already become more difficult due to ICE raids, leading to reduced work hours and fear of detention, causing many to avoid public and financial spaces.

The Matrícula Consular, a document issued by Mexican consulates, has historically served as identification for opening bank accounts, renting property, and conducting other transactions regardless of immigration status. Núñez Chaim explained that increased scrutiny or suspicion of these documents for potential illicit activities could indirectly lead to financial exclusion for the migrant population. The ITIN, a tax identification number used by migrant workers to file taxes in the U.S. even without certain immigration documents, could also be affected.

These restrictions could push some migrants toward informal channels for managing money and sending funds. Risks include the growth of non-bank intermediaries, higher transfer fees, and potential economic exploitation or illegal schemes. The social consequences for Mexico are significant, as millions of households depend on remittances for food, housing, transportation, health, and education. A sustained reduction in these funds could lead to lower school attendance, reduced basic consumption, and increased vulnerability, alongside macroeconomic impacts from decreased foreign currency and slowed domestic spending.

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What is at stake is not only the flow of money between countries, but the living conditions of millions of families who depend on these incomes to cover basic needs.