HOW TRUMP’S PRESIDENCY WILL PAUPERISE MEXICO

US, April 8, 2016 – For Mexico, the signals emanating from the Republican frontrunner, Donald J. Trump are just too ominous. If she has her way, she will do everything possible to make sure that Trump does not emerge as candidate of the Grand Old Party (GOP), least of all become President of the United States.

The reason is that a Donald Trump Presidency will be the worst nightmare for Mexico and by extension Africans, the Middle East and other areas with high level of immigrants on US soil.

The problem is not just building wall to keep Mexicans away from the US but making Mexico pay for a project that has no economic benefit to Mexico.

According to Trump, $24 billion flows from the US into Mexico every year by immigrants who repatriate the funds home through Western Union or electronic transfer.

The majority of that amount comes from illegal aliens, which serves as de facto welfare for poor families back home in Mexico.

Trump believes he is doing it to protect America. “Mexico has taken advantage of us in another way as well: gangs, drug traffickers and cartels have freely exploited our open borders and committed vast numbers of crimes inside the United States.

“The United States has borne the extraordinary daily cost of this criminal activity, including the cost of trials and incarcerations. Not to mention the even greater human cost’’, he said.

In addition, Trump believes that Mexico is engaging in unfair subsidy behavior that has eliminated thousands of U.S. jobs and that the impact of any tariffs on the price imports will more than offset the economic and income gains of increased production in the United States, in addition to revenue from any tariffs themselves.

“Mexico needs access to our markets much more than the reverse, so we have all the leverage and will win the negotiation. By definition, if you have a large trade deficit with a nation, it means they are selling far more to you than the reverse – thus they, not you, stand to lose from enforcing trade rules through tariffs (as has been done to save many U.S. industries in the past).

To achieve his aim, Trump plans to use the Patriot Act, section 326, which compels financial institutions to demand identity documents before they open accounts or conduct financial transactions with anybody.

That section authorized the executive branch to issue detailed regulations on the subject, found at 31 CFR 130.120.

A Donald Trump Presidency proposes to compel Mexico to make a one-time payment of $5-10 billion to ensure that $24 billion continues to flow into Mexico year after year.

He is in addition proposing to promulgate a regulation amending 31 CFR 130.121 to redefine applicable financial institutions to include money transfer companies like Western Union, and redefine “account” to include wire transfers.

Also included in the proposed rule will be a requirement stating that no alien may wire money outside of the United States unless the alien first provides a document establishing his lawful presence in the United States.

He said the law will not be made if Mexico agrees to contribute the money needed to build the wall.

Besides, Trump averred that Immigration is a privilege, not a right, adding that Mexico is totally dependent on the United States as a release valve for its own poverty.

“Our approvals of hundreds of thousands of visas to their nationals every year is one of our greatest leverage points. We also have leverage through business and tourist visas for important people in the Mexican economy”, he said and that small increase in visa fees would pay for the wall.

“This includes fees on border crossing cards, of which more than 1 million are issued a year. The border-crossing card is also one of the greatest sources of illegal immigration into the United States, via overstays.

“Mexico is also the single largest recipient of U.S. green cards, which confer a path to U.S. citizenship. Again, we have the leverage so Mexico will back down’’, he assured.