After immediately stepping into office, newly elected President Trump announced his plans for an immigration ban. Just like most actions, there is a reaction. The immigration ban could potentially hurt the United States and globalization. The new ban entailed blocking the entry of travelers into the United States from six predominately Muslim countries, known as Yemen, Iran, Libya, Syria, Sudan, and Somalia. What many fail to realize, is the impact that barring these individuals from entering the US will have on American corporations and global business. Trumps travel ban will affect the US economy, affect its relationship with other countries, and reduce necessary innovation.
The United States economy could possibly take a fall if the immigration ban goes as planned. A lot of US corporations will be affected by the immigration ban. Countries like Syria, that are banned, and produce oil, can consequently halt trade with the US, resulting in a major impact to our economy. United States foreign business partners affected by the ban and other countries could potentially retaliate. Those countries could decide at any moment to stop all trade with the United States.
In addition to trading, the US economy will be impacted financially. According to Remo Fritshci of ADS Securities, the US stocks will be affected by the travel ban. He said, “Sweeping bans on admission to the country from a number of nations risks undermining the globalization agenda that has helped pump valuations in a range of U.S.-listed stocks over the last few years, whilst the prospect of similar restrictions being applied to U.S. citizens could also hamper overseas trade initiatives,” (Wasik). This goes to show that stocks, which are a major driving force of the economy will be affected, additionally affecting globalization. Just like the US stocks, the technology industry will also be affected.
Numerous corporate executives have spoken about the effect the ban will have on the fate of their multinational enterprises. CEO’s to large technology corporations are taking a firm stand against Trump’s immigration ban. Among those, is Amazon’s Jeff Bezos. The CEO sent out a statement to all Amazon employees condemning the ban. Bezos informed his employees that Amazon will have their back (Ruben). Other top executives releasing public statements against the ban include, Twitter CEO Jack Dorsey, Facebook CEO Mark Zuckerberg, and Microsoft CEO Satya Nadella (Thibodeau). As the executives mentioned, a good portion of their employees come from foreign nations, bringing their ideas to the US with them. Trumps treatment of immigrants also goes against these companies’ values and policies. Banning immigrants from the six nations, would be of a disservice to the country.
Foreigners make a portion of US corporations’ employees. These employees include all positions held at the company, whether it is entry level or all the way up to the top. Every single one of those employees are contributing immensely to the US economy, each in their own individual way. International students come to this country in pursuit of a great education, that way they can contribute their ideas to United States businesses. Some of these employees are the driving forces behind innovation.
By barring entry from citizens of those six countries, the United States will unintentionally curb innovation. American corporations will suffer because blocking certain individuals can prevent the intake of bright minds that continue to put US corporations in the lead. Globalization includes the intermingling of various ideas from all of the world. The ban will decrease those ideas from coming to the United States.
People from all over the world think about establishing a future in the US and living their American Dream. A lot of immigrants in this country have started their own businesses. If they were still in their own country, they might not have that opportunity. Their businesses and ideas have contributed to the success of the US economy. Barring those individuals is a contradiction to American values.
Trump’s immigration ban should be reviewed before the situation gets worse. The US economy, corporations, and innovation are at stake with this proposition. Only time will tell how soon this ban will affect the nation and its future.
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Trump’s Immigration Ban Will Potentially Affect the US Economy
