News Article 11-08-20

Title: Apple to Amazon line up against Trump’s immigrant visa ban

Background: Th US administration has suspended new work visas and barred hundreds of thousands
of foreigners from seeking employment in the United States, part of a broad effort to limit the entry
of immigrants into the country. This includes computer programmers and other skilled workers who
enter the country under the H-1B visa, as well as those for seasonal workers in the hospitality
industry, students on work-study summer programs and au pairs who arrive under other auspices.

Summary: Companies like Apple, Facebook, Amazon and Microsoft are also joining the battle against
President Trump's ban on new visas for temporary foreign workers. The 52 companies separately
filed a similar request in a challenge to Trump’s actions pending in Washington. According to the
group it's causing irreparable harm on business and the nation's economy.

Future Implications:

1. the suspension of the H1-B visas by the US would cost the Indian IT firms USD 157 Mn (INR 1,200
crore) and have a marginal 0.25-0.30 per cent impact on their profitability.

2.The Visa suspension order could negatively impact hundreds of thousands of Indians awaiting
green cards. From a political standpoint, as mentioned earlier the visa ban would open up 520,000
jobs for U.S. workers, shoring up Trump’s base and tapping potential voters who have become
fearful of immigration because of the pandemic.

Link: https://economictimes.indiatimes.com/nri/visa-and-immigration/apple-to-amazon-line-up-
against-trumps-immigrant-visa-ban/articleshow/77476198.cms

Title: China hits US officials with sanctions, avoids top Trump aides

Background: Relations between the US and China have been deteriorating for months. The US has
publicly criticised China over its actions in Hong Kong, its persecution of the Uighur minority and its
handling of the coronavirus outbreak. President Donald Trump has frequently attempted to shift the
focus towards China during the US's worsening coronavirus situation, calling the disease the "China
virus" during press briefings.

Summary: China is sanctioning 11 Americans which includes very prominent American Politicians.
This is a tit and tat retaliation after the US imposed Sanctions on 11 Chinese in Hong Kong Officials
last friday over the National Security law in the city. There are no details what the sanctions entail

Future Implications:

1. The continous tensions between two countries could stunt the much needed economic recovery
from corona virus shutdowns.

2.This confrontation is a global concern as trade between the U.S. and China is of great importance
to the global economy, from international supply chains and economic growth to the costs of basic
goods.

Link: Trade between the U.S. and China is of great importance to the global economy, from
international supply chains and economic growth to the costs of basic
goods.https://economictimes.indiatimes.com/markets/stocks/news/china-hits-us-officials-with-
sanctions-avoids-top-trump-aides/articleshow/77475721.cms