President Donald Trump’s threats to close the U.S. and Mexico border can have a large impact on many things in the Borderland — specifically on the pocketbook of area residents and the business community.
According to a July report by the El Paso Branch of the Federal Reserve Bank of Dallas, trade through the El Paso Ports of Entry rose and maquiladora employment remained steady.
El Paso Community College’s economics expert Carlos Aguilar told KTSM that El Paso and Juarez businesses have a major trade relationship that can be harmed by any long-term border closure.
Aguilar said the amount of foot traffic alone from consumers who cross the border daily brings in so much business to our economy.
“There’s been estimates that the Mexican consumer comes to El Paso and accounts for about 15, maybe 20 percent retail consumption in this city,” Aguilar said. “That’s pretty significant.”
If the president does decide to shut down the border, Aguilar says there is very little that area businesses can do to prepare for the financial impact.
Local economy professors say the impact will depend on how long Trump decides to shut the border. And longer periods of time can affect the entire nation.