Why a move to close the Mexican border could backfire for Trump and the U.S. economy
The stuttering U.S. economy could suffer a savage blow, business leaders and economists say, if President Trump acts on his threat to shut the Mexican border to block a rising tide of migrants.
“The auto industry would face serious disruption. About one-third of imported auto parts come from Mexico,” he said. “A lot of fruits and vegetables are also imported from Mexico. Prices would likely skyrocket.” The U.S. imports enormous quantities of autos and parts, computer equipment, oil and gas, appliances and plastic and rubber products — not to mention fruits and vegetables such as tomatoes, berries and melons.
The White House threat weighed on Wall Street. The Dow Jones Industrial Average DJIA, -0.30% fell and the S&P 500 SPX, +0.00% was flat.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Trump Administration Wants To Send Hundreds More Asylum-Seekers Back To Mexico Every DayThe plan is a vast expansion of a new and controversial policy enacted in January where asylum-seekers wait in Mexico while their cases are processed in the US.
Read more »
Trump Closing The Mexico Border Could Throw The U.S. Into A RecessionWith the economy only growing between 2% and 3%, Trump closing the border with Mexico could disrupt the economy so much that it falls into a recession. Investors are not expecting him to follow through since he has cried wolf before, but his off the cuff decisions keep this a wild card.
Read more »
Trump threatens to close 'large sections' of US-Mexico border next week over illegal immigrationTrump has said he could shut down border crossings before without following through on the threat.
Read more »
White House looking to keep truck lanes open if Trump closes U.S.-Mexico border, Kudlow saysKudlow said that the Trump administration was exploring whether it could permit trucks carrying freight to cross the border if it is sealed. He cautioned that the president has not made any final decisions.
Read more »
Arizona Gov. Doug Ducey doesn't support U.S.-Mexico border shutdown, as Trump has threatenedGov. Doug Ducey said he doesn't support shutting down the U.S.-Mexico border, saying that Mexico is Arizona's 'No. 1 trading partner, times four.'
Read more »
Trump on closing the US-Mexico border: 'Security is more important to me than trade'The president reiterated his pledge to shut down the U.S.-Mexico border, saying security is 'more important' to him than trade. Meanwhile, his top economic advisor, Larry Kudlow, said the White House was working hard to mitigate any economic damage.
Read more »
Ten U.S. Exports And Imports That Would Be Hurt If Trump Closes Mexico BorderIf President Trump follows through on his threat to close the U.S.-Mexico border this week, it will hit cross-border trade in the stomach, hammering tomato imports and U.S. pork exports, among other items. Here are the 10 largest imports and exports between the U.S. and Mexico.
Read more »
Trump renews threat to close the southern border, blasts Mexico on immigrationThe president tweeted a day after the nation’s top border official warned that the U.S. immigration enforcement system is at “the breaking point.”
Read more »
Trump threatens to close the U.S.-Mexico border next weekDonald Trump on Friday threatened to close the U.S-Mexico border next week if Mexico does not stop undocumented immigrants from coming into the United States
Read more »