Picture an economic shockwave: Thousands of workers laid off and supermarket shelves made barren. Auto plants darkened overnight. Precious supplies of avocados, so dear to American hearts, wiped out, while other fresh fruits and vegetables also rot in trucks, with supplies exhausted in as little as 48 hours.
Published Thursday, April 4, 2019 8:04AM EDTPicture an economic shockwave: Thousands of workers laid off and supermarket shelves made barren. Auto plants darkened overnight.
This has drawn a collective gasp from economists, Congress and industry, who fear a catastrophe that could tip the world's largest economy into recession as ties with Mexico, its third-largest trading partner, grind to a halt. "It would be like erecting a wall in the middle of the factory floor. It would be a complete disruption and it wouldn't be immediately undone if the borders re-opened."Top White House economic adviser Larry Kudlow said Tuesday U.S. officials were working to minimize the economic impact from any closure of the border -- including keeping truck lanes open.
In 2018, the largest U.S. imports were Mexican-made autos and auto parts, which together totaled $114 billion, according to Commerce Department figures, while just in petroleum and coal products, industrial chemicals and machinery, the United States sent back more than $70 billion.
"We see all production halting within a week," she told AFP, adding that this would result in immediate layoffs. Meanwhile, Mexico is also the largest source of U.S. agricultural imports, sending more than 6 billion pounds of produce northward annually -- feeding much of America in the colder months when fresh fruits and vegetables are out of season.
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