Trump’s softer approach in his speech to Congress was well-received, garnering favorable commentary from major U.S. news sources. The Trump administration’s revised immigration ban, which was slated to be introduced this Wednesday, the 2nd of March, has since been delayed in light of positive media coverage and improved public opinion ratings. What’s known about the new immigration ban is that it will contain major changes to its former policies, including the exemption of current U.S. Green Card and visa holders (legal residents). However, those close to the revised immigration ban have stated the executive order has not been finalized and may be subject to change. At present, these changes include:
- The new executive order will explicitly state that legal U.S. permanent residents will not be included in the ban.
- In addition, those who hold valid visas issued by the U.S. immigration authorities will also be excluded from any ban.
- The exemption of language prioritizing religious minorities seeking refugee status in the U.S.
- Citizens from Iraq will be excluded from any ban.
If the Trump administration maintains its hard-line approach to immigration, the reality is that America faces losing its economic support and competitive edge that immigrants provide a nation. The foreign capital, skills, and innovation that immigration cultivates are features that Canada has heavily advocated since the introduction of Trump’s now-defunct immigration ban in January.
For would-be applicants to the U.S. EB-5 Immigrant Investor Program, a program designed to attract foreign capital and create jobs for American workers, obtaining Canadian permanent residency may now be a better prospect. Whether or not the Trump administration will grant exemptions for current U.S. EB-5 Immigrant Investor Program applicants (or those who wish to apply in the future) remains unclear, and a growing number of foreign nationals are redirecting their immigration inquiries—and potential capital—north of the border. According to statistics from the Bureau of Economic Analysis and U.S. Citizenship and Immigration Services, foreign nationals wishing to establish, expand, or acquire U.S. businesses invested USD $384 billion into the American economy in 2015, with USD $437 million attributed to U.S. EB-5 investors alone. However, total U.S. EB-5 investments fell to USD $381 million by 2016, with total foreign investments predicted fall substantially for 2017. From an economic standpoint, the Trump administration’s immigration policies could potentially be disastrous if foreign investors and entrepreneurs opt for Canada in light of U.S. immigration uncertainty.
Businesses and employers in Canada, on the other hand, have since increased efforts to attract foreign investors, entrepreneurs, and skilled workers from around the world as a result of Trump’s immigration ban. Can the U.S. economy risk losing billions of dollars and competitive edge in the global market? As the world anxiously anticipates Trump’s next move for the future of U.S. immigration, Canada isn’t waiting around for the answer.
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