Trump 'Buy American' edict may have little impact on US steel

Trump 'Buy American' edict may have little impact on US steel

Trump 'Buy American' edict may have little impact on US steel

Additionally, it asked them to propose new rules and guidance for preventing fraud and abuse of work visas.

Trump will sign the so-called "Buy American, Hire American" executive order during a visit to Snap-On Tools in Kenosha, Wis. "This historic action declares that the policy of our government is to progressively promote and use American-made goods and to ensure that American labor is hired to do the job".

He said his administration is going to enforce "Hire American" rules that are created to protect jobs and wages of workers in the United States. "Instead they should be given to the most skilled and highest paid applicants, and they should never, ever be used to replace Americans", Trump said.

As a result, Gibbs said investors should dial back expectations that Trump will do anything meaningful on trade, or on infrastructure which is where such an order could make a difference.

The Trump administration rolled out policy shifts earlier this month to begin cracking down on the H-1B visa system. "I applaud President Trump for his efforts to spur job creation, economic growth, and American competitiveness by improving our country's high-skilled immigration programs", said House Judiciary Committee Chairman Bob Goodlatte. The EO calls for the application of existing US laws to visa recipients and the re-evaluation of the H-1B program.

Trump signed an executive order on enforcing and reviewing the H-1B visa, popular in the technology industry.

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"Right now, H-1B visas are awarded in a totally random lottery, and that's wrong". In putting pen to paper on this matter, Trump is looking to bring to fruition his campaign promise to support domestic blue-collar workers and United States job creation. The H-1B visa program allots temporary visa to foreign workers with specialized skills to fill in some gaps in the working industry, mostly in IT and Engineering, according to Business Insider.

In his new directive, the president is targeting the H-1B visa program, which the White House says undercuts US workers by bringing in large numbers of cheaper, foreign workers and driving down wages.

The policy would have a "somewhat meaningful" impact on the USA steel industry, but "I'm kind of skeptical it even happens", Lee McMillan, an analyst at Clarksons Platou Securities, said in a telephone interview.

"If it turns out America is a net loser because of those free-trade agreement waivers, which apply to nearly 60 countries, these waivers may be promptly renegotiated or revoked", a second official said.

About 6% of the visas now go to the Labour Department's top skill level, while eight in 10 workers on the visa are paid less than the median wage for their fields, the White House said in a fact sheet distributed to reporters.

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