Trump Stalls an Engine of New Business

In President Donald Trump's latest effort to wall the U.S. off from the rest of the world, his administration has ditched a plan to make it easier for successful foreign entrepreneurs to come and work in America. The decision may play well with the president's nationalist base, but it will not help the U.S. economy.

The administration has delayed (and will probably kill) the International Entrepreneur Rule, which was designed to provide a special "startup visa" for entrepreneurs who attract funding for businesses in the U.S. The rule was intended to benefit entrepreneurs whose ideas had attracted at least six-figure funding from either private investors or a government entity. They were to be selected on a case-by-case basis, after demonstrating that they would provide a "significant public benefit" through rapid growth and job creation, and could stay in the U.S. on renewable 30-month visas.