With 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.
Trump’s tariffs hurt farmers
In 2018 there was $346 billion in goods imported and $265 billion of goods exported to Mexico. On an average day this is aboutWhile imports and exports are not the only impact on a very complex economy from a border closing, the numbers show that it could be large enough to throw the economy into a recession. However, since the economy is something that Trump is counting on to get him re-elected, shutting down the border would be going against his self-interest.
On a daily basis this is an incremental $1.5 billion in GDP growth, or a bit less than the amount of Goods that the U.S. imports and exports with Mexico every day . Assuming that all trade came to a halt then closing the border could effectively wipe out all of a quarter’s GDP growth, and this is before any other impacts are taken into account.
This would then cause a ripple effect similar to the government shutdown since the stores and restaurants don’t have sales due to unemployed people not visiting. While it could impact the border states the most, it would have an impact across the country.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Closing the border is yet another bad idea from the Trump administrationPresident Trump has ordered aid be cut off to three Central American countries and threatened to close the U.S.-Mexico birder. Why? Because he can't solve an immigration problem. And these moves will make things only worse.
और पढो »
Trump threatens potential 'border closing' next weekPresident Trump renews threat to shut down the US-Mexico border, or parts of the border, if Mexico 'doesn't immediately stop all illegal immigration coming into the' US via the southern border.
और पढो »
Trump on closing the 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.
और पढो »
Trump, McConnell clash on closing the borderAs President Trump declared at the White House that “the border's going to be closed” if no deal is reached, Senate Majority Leader McConnell declared on Capitol Hill that such a move “would have potentially catastrophic economic impact on our country.”
और पढो »
Mexican border closing: Trump and nation face logistical nightmare if he follows through with threatsThe decades-old episode underscores the immense challenges Trump would face if he follows through on a threat to 'close the border' with Mexico, experts said.
और पढो »
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.
और पढो »
Trump not bluffing about closing U.S.-Mexico border, Conway saysWhite House counselor Kellyanne Conway said Trump is serious about possibly closing the U.S.-Mexico border this week
और पढो »
Trump closing the border could have 'catastrophic' results, one official warns'It'd be disastrous for us. ... It would create an enormous problem for us, and I would like to see the administration reconsider.' Brownsville, TX, MayorTonyM on the potential closing of the southern border, adding 'the ripple effect would be tremendous'
और पढो »