Laredo, TX, expects losses of US$800 million

Laredo, TX, expects losses of US$800 million

LAREDO, TX – With the announcement that the U.S. land bridges with Mexico and Canada will remain closed to non-essential traffic until December 21, the local market of Laredo, TX forecasts millions in losses.

Miguel Conchas, executive president of the Laredo Texas Chamber of Commerce, indicated that the losses for local commerce would be of up to US$800 million in seasonal sales.

"One estimate as of the end of 2020 is that every month during the pandemic more than US$24 million in sales have been lost and some stores are dependent on tourism. This is a catastrophic loss for local commerce since more than 80% of the sales in Downtown Laredo are sales to Mexican citizens," explained Conchas.

The Department of Homeland Security or DHLS - Home Land Security notified that the restrictions will continue envisioning appropriate criteria and will continually reassess border issues.

In addition, the Mexican Ministry of Foreign Affairs once again requested that U.S. authorities maintain these restrictions as a health measure.

Source: El Financiero