After immediately taking office, newly elected President Trump announced his plans to ban immigration. Like most actions, there is a reaction. The immigration ban could potentially harm the United States and globalization. The new ban involved blocking travelers from entering the United States from six predominantly Muslim countries, known as Yemen, Iran, Libya, Syria, Sudan and Somalia. What many don’t realize is the impact that banning these individuals from entering the US will have on corporate America and global business. Trump’s travel ban will hurt the US economy, affect its relationship with other countries, and reduce needed innovation.
The US economy could possibly fall if the immigration ban goes as planned. Many US corporations will be affected by the immigration ban. Countries like Syria that are banned and producing oil can consequently stop trade with the US, which has a huge impact on our economy. Foreign trading partners of the United States affected by the ban and other countries could retaliate. Those countries could decide at any time to stop all trade with the United States.
In addition to trade, the US economy will be affected financially. According to Remo Fritshci of ADS Securities, US stocks will be affected by the travel ban. He said: “Sweeping multi-nation bans on admission to the country risk undermining the globalization agenda that has helped drive valuations in a variety of US-listed stocks. Citizens could also hamper business initiatives abroad.” “, (Wasika). This shows that stocks, which are one of the main driving forces of the economy, will take a hit, further affecting globalization. Like US stocks, the tech industry will also take a hit.
Numerous corporate executives have spoken out about the effect the ban will have on the fate of their multinational companies. CEOs of big tech corporations are taking a strong stand against Trump’s immigration ban. Among them is Amazon’s Jeff Bezos. The CEO sent a statement to all Amazon employees condemning the ban. Bezos informed his employees that Amazon will support them (Rubén). Other top executives who have issued 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 part of their employees come from foreign countries, bringing their ideas to the United States. Trump’s treatment of immigrants also goes against the values and policies of these companies. Banning the entry of immigrants from the six nations would be a disservice to the country.
Foreigners make up a portion of the employees of US corporations. These employees include all positions held in the company, whether entry-level or all the way up to the top. Each of those employees is contributing immensely to the US economy, each in their own individual way. International students come to this country in search of a great education, that way they can contribute their ideas to companies in the United States. Some of these employees are the driving forces behind the innovation.
By barring the entry of citizens of those six countries, the United States will unintentionally curb innovation. Corporate America will suffer because blocking certain people can keep out brilliant minds who continue to put corporate America in the lead. Globalization includes the mixing of various ideas from all over the world. The ban will slow the entry of those ideas into the United States.
People from all over the world are thinking of establishing a future in the US and living their American Dream. Many immigrants in this country have started their own businesses. If they were still in their own country, they might not have had such an opportunity. His businesses and ideas have contributed to the success of the American economy. Excluding those individuals is a contradiction to American values.
Trump’s immigration ban needs to be reviewed before the situation gets worse. America’s economy, corporations and innovation are at stake with this proposal. Only time will tell how soon this ban will affect the nation and its future.