An Eyewitness Account of How ICE Raids Are Chilling the Economy
On Everybody’s Business, we see up close the economic consequences of Donald Trump’s immigration dragnet. We also explore the flailing film industry.
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As an economist who tracks consumer spending, Leo Feler has closely followed the impact of the Trump Administration’s immigration policies. Feler, a former professor at Johns Hopkins University, says it’s clear that the spike in raids by the Immigration and Customs Enforcement and Customs and Border Protection agencies has had a significant economic chilling effect.
Feler cites data that shows spending by immigrants has fallen at big retailers, like Walmart and Costco, as well as at specialty stores. That’s partly because immigrant workers in industries like construction—including those with a legal right to be in the US—are staying home rather than risk getting caught up in a raid. That also leaves their families with less money to spend. Another factor hurting retailers is that a broader spectrum of consumers may simply fear showing up at some stores, given that federal agents have targeted places like Home Depot parking lots. The pullback has also hurt big consumer products companies like Coca-Cola, Colgate-Palmolive and Constellation Brands.