US-Mexico trade generates an estimated $1M a minute: Heritage Foundation’s James Roberts
Heritage Foundation research fellow James Roberts discusses the controversy surrounding President Trump’s threat to close the southern border and the ongoing Brexit crisis.
The U.S. Chamber of Commerce is projecting that a closed southern border could cost the U.S. economy $1.7 billion in lost trade.
“There’s a great amount of trade going across that border every day, estimates of $1 million a minute,” Heritage Foundation’s James Roberts told FOX Business’ Liz Claman on Wednesday. “It's a highly important part of the economy.”
President Trump is threatening to seal off the southern border, but is considering keeping trucking lanes to Mexico open.
“I'm sure President Trump and his advisers are thinking very carefully about all of these questions,” Roberts said.
Trump has asked Mexico to step up its efforts to stem illegal immigration an effort Roberts supports, but says Congress could solve the border crisis by enforcing its immigration laws such as the asylum policy which acts as an incentive for people to enter the U.S. illegally.
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Mexico is a major U.S. market for agriculture products. The North American country buys a third of all U.S. corn exports and a quarter of its dairy poultry meat and pork products.