FT News Briefing US business raises alarm over Trump’s deportation plan
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Nov 19, 2024 U.S. businesses are sounding alarms over a potential deportation plan by Donald Trump, warning of labor shortages that could threaten productivity. Vanguard is taking a stand by allowing shareholders to prioritize profits over ESG values. Meanwhile, Chinese tech firms are aggressively building AI teams in Silicon Valley, navigating complex geopolitical tensions while seeking top talent. In food innovation, Huel is making waves with its expanding fan base, showcasing successful market diversification.
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Labor Shortages from Deportations
- U.S. businesses rely heavily on immigrant labor, especially in sectors like restaurants, construction, and agriculture.
- Deporting undocumented workers could lead to mass labor shortages and business closures.
Undocumented Workers in Restaurants
- Nearly 12 million undocumented people are in the U.S. workforce, working at higher rates than citizens.
- The National Restaurant Association estimates 54% of restaurant workers are undocumented.
Business Leaders' Recommendations
- Business leaders advocate for expanding legal immigration pathways to address workforce needs.
- They also urge for deportations to be limited to non-working individuals to avoid disrupting businesses.