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Certainly not the most important effect, but: This will make America's trade deficit -- which Trump had promised to eliminate -- bigger.
Higher education is one of America's most successful exports
We export way more in educational services than we do in soybeans
In fact in 2019 we exported about as much in education as we did in soybeans, coal, & natural gas *combined*

education-related travel exports: $44b
soybean exports: $19.6b
coal exports: $14b
natural gas exports: $15.4b
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Catherine Rampell
@crampell
Trump last night denounced totalitarianism (toe-tallie-terrio-tism), accusing left of "shaming dissenters & demanding submission from anyone who disagrees." Some of the ways Trump has used his own powers to punish dissenters, critics, perceived enemies: /1
*weaponizing anti-trust against media org whose coverage he dislikes (CNN)
*threatening to "revoke license" of media org whose coverage he dislikes (NBC) /2
washingtonpost.com/opinions/2019/… reuters.com/article/us-usa…
*weaponizing US Postal Service against owner of media org he dislikes (WaPo, personally owned by Amazon CEO Bezos)
*weaponizing govt procurement against owner of media org he doesn't like (also WaPo, Bezos) /3
reuters.com/article/us-hea… politico.com/news/2020/04/1…
Read 9 tweets
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Catherine Rampell
@crampell
It's great that we added more jobs in June. But we're still very, very far in the red, with total employment down nearly 10% on net since the pandemic began washingtonpost.com/opinions/2020/…
Plus, the payroll numbers are based on conditions from mid-June. A number of reasons to believe things have stalled or deteriorated since then, as covid cases spike, governors re-close restaurants, various other indicators suggest foot traffic etc are down washingtonpost.com/opinions/2020/…
What's more, a fiscal time bomb is about to detonate. Really, 2 time bombs. One is that enhanced unemployment benefits are scheduled to expire at end of this month
Read 8 tweets
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Catherine Rampell
@crampell
Unsurprisingly, vast majority of top academic economists surveyed in IGM Panel say ban on visas for skilled workers, including researchers, will weaken US leadership in STEM and R&D, and attract fewer top foreign students to US igmchicago.org/surveys/new-vi…
Economists also overwhelmingly predict that increased restrictions on visas for skilled workers, if permanent, will result in noticeable share of research activities by US and foreign companies moving abroad.
more detailed analysis from @Austan_Goolsbee
Read 3 tweets

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