Businesses would lose $726 million per day if President Donald Trump follows through on his threat to close the United States-Mexico border, according to a study by a manufacturing advocacy group.
The move would cost businesses, including farmers and manufacturers, more than $5 billion per week according to a study by the National Association of Manufacturers (NAM).
NAM Chief Economist Chad Moutray said in a news release that more than 21,000 American companies send exports to Mexico and added that nearly 1 million American manufacturing jobs are directly related to exports to Mexico.
The US exported around $265 billion worth of goods across the Southern border last year.
“The NAM has been to the border to witness the situation firsthand,” NAM President Jay Timmons said in a statement. “Congress absolutely must tackle comprehensive immigration reform immediately to address the real national security and humanitarian concerns that are a direct result of our current broken system.”
Trump doubles down on border closure threat:
Trump previously threatened to close the border if Mexico did not act to stop Central American migrants from heading north toward the border. Trump now says Mexico has acted, though the country says it is not doing anything different. Trump is now threatening to close the border unless the Democrats in Congress agree to an immigration deal.
"Congress has to meet quickly and make a deal. I could do it in 45 minutes. We need to get rid of chain migration," Trump said at a pool spray at the White House Tuesday. "We need to get rid of catch and release and visa lottery. And we have to do something about asylum. And to be honest with you, we have to get rid of judges,” he said, adding that he no longer wants to bring people caught crossing the border illegally “to a court.”
"It is the worst, dumbest immigration system in the world," Trump claimed. "The Democrats can change it in one meeting. Everyone would agree. But they don't want to change it because they don't want to give Republicans a victory. "
GOP warns Trump against closing border:
Democrats have come out against the threat to close the border, as have Republicans.
Senate Majority Leader Mitch McConnell said Tuesday that closing the border would devastate the economy.
“Closing down the border would have potentially catastrophic economic impact on our country, and I would hope we would not be doing that,” McConnell said, according to Politico.
“The economic disaster to the country would be huge, and my guess is that cooler heads will prevail upon the president not to do it,” Senate Minority Leader Chuck Schumer added. “It would be a disaster for him and a disaster for the country.”