Wall Street’s Big Hope Is Trump Pulls His Punches on Immigration
- Deportations have broad support and were key campaign promise
- Impact would be close to pandemic era, Siebert’s Malek says
A worker assembles temporary shelters in preparation for mass deportations at the US-Mexico border in Ciudad Juarez, Chihuahua state, Mexico.
Photographer: Justin Hamel/BloombergThis article is for subscribers only.
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.