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Trump Hire American Executive Order Could Backfire

U.S. President Donald Trump will push ahead with one of his major campaign pledges Tuesday when he signs an executive order that will overhaul the way foreign workers can work in high-skilled jobs in the U.S.

The order will direct federal agencies to recommend changes to the controversial H-1B temporary visa program, which has previously attracted criticism for disadvantaging American workers by replacing them with cheaper foreign workers.

However, the business community has voiced concerns that the revamp could hamper U.S. companies’ ability to attract top talent and, in turn, hurt the President’s pro-growth agenda.

“It’s not a zero-sum game,” Eamon Jubbawy, co-founder of software solution start-up Onfido, told CNBC over the phone Tuesday.

It is thought that new limits on foreign work visas could be especially painful for the technology sector, which has been a keen employer of overseas skilled workers and has spawned new start-ups in the country.

“There’s no limit to the number of people who can start a start-up,” said Jubbawy, arguing that the move to impose new limits on foreign visas could restrict new talent and prevent new business innovation.

via CNBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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