Washington: President Donald Trump’s executive order banning skilled foreign workers from entering the United States, mainly on H-1B and L-1 visas, has cost companies $ 100 billion and will have long-lasting negative repercussions for companies here. An important American think tank.
The most preferred H-1B visa among Indian IT professionals is the non-immigrant visa, which allows US companies to allow foreign workers to work in specialized industries that require theoretical or technical expertise. L-1 Visa for Internal Transfers.
The administrative order signed by Trump on June 22, which temporarily barred the issuance of new H-1B and L-1 visas until December 31, had a negative impact on the fortunes of Fortune 500 companies, equivalent to a loss of $ 100 billion, Brookings said in a statement released this week. .
According to estimates, the order barred the entry of nearly 200,000 foreign workers and their dependents, co-authored by Prithviraj Chaudhary, an Indo-American Lumrie family associate professor of business administration at Harvard Business School; Danny Bahazr of Brookings and Britta Glennon of the University of Pennsylvania.
The report said there is ample evidence that targeted nonimmigrant visas (such as H-1B and L-1 visas) are being used by companies to hire or replace high-skilled immigrants, enhancing the tangible effects of efficient immigration. Profits, Productivity, Product Expansion, Innovation and Investment.
“Therefore, it is plausible that the Trump administration’s actions that significantly restrict immigration will have a lasting negative impact on U.S. companies, and with it, slow the post – COVID-19 economic recovery,” it argued.
Meanwhile, the U.S. Immigration Council on Thursday proposed another proposed rule by the Department of Homeland Security that restricts enrollment periods for foreign students and exchange visitors, which could destroy U.S. leadership in scientific research and technological discoveries.
It said the plan would adversely affect U.S. colleges and universities and foreign students pursuing higher education in the United States and have long-term consequences for the legal immigration system.
It said the Department of Homeland Security’s proposed rule restricts enrollment periods for foreign students and exchange visitors, which could destroy U.S. leadership in scientific research and technological innovation.
“This rule threatens to undermine America’s role as world leader in education and stigmatizes tens of thousands of students based on the country of their birth.
New costs and bureaucratic restrictions will make it impossible for students and exchange visitors to complete their studies in the United States, which will inevitably motivate talented students around the world to study in other countries, said Managing Director Beth Verlin. U.S. Immigration Council.
“We already have an appropriate system in place to ensure that international students and transfer visitors comply with the terms of their visas. This proposed rule will unnecessarily reduce the space for highly skilled students and the ability to exchange visitors worldwide,” Verlin said.