ABikerSailor
Diamond Member
You know, I got a bit curious this afternoon, after listening to how the border was shut down for a few hours, and started to wonder how much it would cost.
Apparently, it would not only damage the US economy, but it would also shut down Mexico's economy, and it wouldn't take long either.
The 5 hour border shut down the other day cost American businesses in San Yisidro CA around 5.3 million dollars in lost revenue.
Yes, something needs to be done about immigration, but completely shutting down the border ain't the way to do it.
Here's How Much It Would Cost If Trump Followed Through On Threats To Close The Border
The main issue is the economic activity generated by imports and exports, which would be halted immediately by a full border closure. According to CBS News, around $558 billion worth of goods flow across America's southern border in both directions, and that economic activity would all come to a screeching halt if the entire southern border were closed. Duncan Wood, director of the Wilson Center's Mexico Institute, says that this would, in essence, cause the economies of both the U.S. and Mexico to collapse.
"If you are thinking about a total shutdown of the border, then it's hundreds of millions of dollars a day — maybe a billion," Wood told CBS MoneyWatch. "It's an economic impossibility. Literally, the two economies would grind to a halt. Both economies are set up to depend upon cross-border trade." In a separate interview with the San Diego Tribune, Wood said that shutting down the border would result in "disastrous, catastrophic losses on both sides of the border."
Local economies got a taste of this on Sunday, when Trump briefly shut down the San Ysidro border crossing, the busiest passenger land crossing between the U.S. and Mexico. Over the course of just five hours — the total time the border was closed — San Ysidro businesses lost $5.3 million, according to the local chamber of commerce. And that number is almost certainly an understatement, as it only reflects the financial hits to businesses that are a) located on the American side of the border and b) members of the San Ysidro Chamber of Commerce.
Apparently, it would not only damage the US economy, but it would also shut down Mexico's economy, and it wouldn't take long either.
The 5 hour border shut down the other day cost American businesses in San Yisidro CA around 5.3 million dollars in lost revenue.
Yes, something needs to be done about immigration, but completely shutting down the border ain't the way to do it.
Here's How Much It Would Cost If Trump Followed Through On Threats To Close The Border
The main issue is the economic activity generated by imports and exports, which would be halted immediately by a full border closure. According to CBS News, around $558 billion worth of goods flow across America's southern border in both directions, and that economic activity would all come to a screeching halt if the entire southern border were closed. Duncan Wood, director of the Wilson Center's Mexico Institute, says that this would, in essence, cause the economies of both the U.S. and Mexico to collapse.
"If you are thinking about a total shutdown of the border, then it's hundreds of millions of dollars a day — maybe a billion," Wood told CBS MoneyWatch. "It's an economic impossibility. Literally, the two economies would grind to a halt. Both economies are set up to depend upon cross-border trade." In a separate interview with the San Diego Tribune, Wood said that shutting down the border would result in "disastrous, catastrophic losses on both sides of the border."
Local economies got a taste of this on Sunday, when Trump briefly shut down the San Ysidro border crossing, the busiest passenger land crossing between the U.S. and Mexico. Over the course of just five hours — the total time the border was closed — San Ysidro businesses lost $5.3 million, according to the local chamber of commerce. And that number is almost certainly an understatement, as it only reflects the financial hits to businesses that are a) located on the American side of the border and b) members of the San Ysidro Chamber of Commerce.