U.S. President Donald Trump’s immigration policies would likely have devastating effects on corporate America’s growth and earnings, but investors haven’t been perturbed yet — largely because they don’t believe he’ll follow through on the full extent of his plans.
It’s a gamble that would be costly to lose, strategists and analysts say, with mass deportations likely upending industries as varied as service-heavy hospitality and leisure, and labor-intensive agriculture, food production, manufacturing and construction.
While the Trump administration has declared a national emergency at the southern border and started sending deportees back to Central America, it has so far held off on mass deportations and large-scale workplace raids.
