This totally makes sense. Trump thinks that his tariffs are a weapon to get foreign companies to invest in manufacturing in the US. But, all they really do is make procurement in the US a nightmare. Then, add a hostile environment regarding obtaining visas for employees into the mix, and foreign companies end up severely curtailing their investment in the US. Less investment means fewer jobs.
I think history will look to that immigration raid on the Hyundai plant as a turning point. Before that raid, many companies might have taken Trump seriously when he said that he was encouraging investment in the US. But that raid proved that foreigners will always be seen as “others” by this government, never as a full partner.
No reasonable company would send their citizens to work in the USA when there is every possibility that they could be indefinitely detained or “deported” to some third world gulag at the whim of the Trump administration.
This totally makes sense. Trump thinks that his tariffs are a weapon to get foreign companies to invest in manufacturing in the US. But, all they really do is make procurement in the US a nightmare. Then, add a hostile environment regarding obtaining visas for employees into the mix, and foreign companies end up severely curtailing their investment in the US. Less investment means fewer jobs.
I think history will look to that immigration raid on the Hyundai plant as a turning point. Before that raid, many companies might have taken Trump seriously when he said that he was encouraging investment in the US. But that raid proved that foreigners will always be seen as “others” by this government, never as a full partner.
Investors hate a unpredictable market. Trump’s constant changes and insane policies make the US very uncomfortable for any business.
No reasonable company would send their citizens to work in the USA when there is every possibility that they could be indefinitely detained or “deported” to some third world gulag at the whim of the Trump administration.
German and Swiss multinationals are very reluctant to send employees to the US for meetings or conferences already, and that’s just the beginning.