As President Obama heads to Mexico to meet with his counterpart, Enrique Peña Nieto, bilateral economic ties are deeper and more massive than ever. In fact, in 2012 the volume of bilateral trade grew to the point that our countries trade a million dollars in goods and services every minute.1 With almost 80 percent of all bilateral merchandise trade crossing the land border, making sure the border is both secure and efficient is more important than ever.
Unfortunately, long lineups to cross the border currently cost the economies of the United States and Mexico billions of dollars each year in lost economic growth and eat away at the competitiveness of manufacturers working in the region. To eliminate the border bottleneck, investments in border infrastructure and staffing are important and necessary, but they are not cheap. One tried and true solution, however, is especially cost effective.