Jim Cramer Explains Why Immigration Is Important for Big Tech
The Trump Administrations has said that it will suspend certain visas that allow foreigners to temporarily move to the U.S. to work. The Administration said that the broad restrictions will help to ease the economic impact of the coronavirus and will also help to improve the prospects of Americans looking for employment during the coronavirus pandemic.
Some guest-worker programs will be paused starting Wednesday under the proclamation signed by President Donald Trump.
Under the order, which is set to last until the end of the year, H-1B visas for those in fields such as technology will be suspended. So will H-2B visas for non-agricultural seasonal workers. Other programs that will be passed include -1 visas for au pairs and other short-term workers and visas for spouses of H-1B and H-2B holders.
However, professors and scholars will be excluded from the J-1 visa restrictions.
And the proclamation does not impact applicants who are already in the U.S. or those abroad who have been issued a visa already.
Watch the video above for more from Cramer.
Watch More of the Latest Videos from TheStreet and Jim Cramer
- Why Weren't We Wearing Masks From the Beginning? Dr. Fauci Explains
- Coronavirus Update: Navarro Walks Back U.S.-China Trade Talk Comments
- Fauci Says 'Very Hard to See' Football Happening in Fall
- Jim Cramer: 'Rents Kill' Businesses—And Businesses Need Help
- Jim Cramer: Once You're In Apple's App Store, You'll Do Much Better