Trump ban on visas cost the US economy $100 billion: Study

PUNE: US President Donald Trump’s Proclamation in June baring the entry of non-immigrant work permit holders may have cost the economy $100 billion, according to a new working paper from The Brookings Institution, a public policy research organisation based in Washington, DC.

The paper, ‘An Executive Order worth $100 billion: The impact of an immigration ban’s announcement on Fortune 500 firms’ valuation’, found that it had negative cumulative average abnormal return (CAAR) of 0.45%, or $100 billion in losses on Fortune 500 firms based on their valuation before the order.