Donald Trump has revealed his plan to force Mexico to pay for his border wall, which could have devastating effects across different economies from Latin America to Africa.
The Republican frontrunner says he plans to stop the flow of money that undocumented Mexicans in the United States send home to their families in Mexico, hoping that this would force the Mexican government into paying for his wall. By doing so Trump would also be effecting dozens of other countries around the world where families depend on the income that the hard-working immigrant sends over from the United States.
Mexico alone received $24.7 billion in money that was sent from immigrants working in the United States last year, thats more money than Mexico generated in oil revenues according to an AP report.
Trump claims that he would place legal roadblocks to the transfer of money outside the United States by requiring money transfer companies like Western Union and MoneyGram among others to enforce the Patriot Act's "know your customer" provision to ensure that no alien may wire money outside of the United States, unless the alien first provides a document establishing lawful presence in the U.S.
In Trump's mind, stopping that flow of money would force the government of Mexico to make a "one-time payment of $5-10 billion " for the wall.
More than 6 million Mexican household receive on average half of their income from money being sent from the U.S. That means nearly 20% of all households in Mexico depend on this money that is sent back from their family members working in the U.S.
Trump's campaign says it will exert pressure on the Mexican government by imposing trade tariffs, raise visa fees, and visa cancellations if they refuse to cooperate with the funding of the wall.
You can find more on Trump's plan to have Mexico pay for his wall on his campaign website.
President Obama on Tuesday called Trump's plan to force Mexico to build a border wall by cutting off billions of dollars in money transfers from Mexican immigrants "half-baked."
"People expect the President of the United States and the elected officials in this country to treat these problems seriously, to put forward policies that have been examined, analyzed are effective, where unintended consequences are taken into account," Obama said at his daily press briefing. "They don't expect half-baked notions coming out of the White House. We can't afford that."
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