Tuesday, April 16, 2019

President Trump Eyeing One of Mexico’s Biggest Sources of Outside Cash in Move Sure To Terrify Mexican Gov’t

The administration of President Donald Trump could soon be hitting a major source of Mexico’s income, and he might just tackle a large part of the illegal immigrant crisis at the same time.
For much of 2014, Mexico’s biggest source of foreign income came from the crude oil trade. In December of that year, shifting dynamics gave the country a new primary source of foreign income: Remittances from Mexicans working north of the border supporting families back home.
As Forbes reported, remittances passed oil to become Mexico’s largest source of foreign money. In 2015, remittances accounted for a whopping $24.8 billion, dwarfing the next two largest sources, oil and tourism.
Money sent home by migrant workers in the United States is cash that will likely not make it back into our economy — at least not directly. It’s strengthening Mexico at the expense of American families.
And Mexicans are not the only ones sapping the U.S. economy.
Breitbart reports that Central American workers in the U.S. sent $16 billion home in 2016. By 2018, this number rose to $20 billion.
Read the rest of the story HERE.

If you like what you see, please "Like" us on Facebook either here or here. Please follow us on Twitter here.

No comments: