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Companies Warn SEC That Mass Deportations Pose Serious Business Risk
Since Trump took office, ICE arrests have more than doubled. Business throughout the US economy are sounding the alarm on the potential impact.
“Many farms employ hard-working, non-criminal employees who have not yet achieved legal citizenship,” reads one filing from ImmuCell, which develops and sells drugs for animals in the beef and dairy industries. Century Communities, a homebuilding company, said in its 2024 annual report that if it's unable to hire enough skilled tradesmen and contractors, it "may have a material adverse effect on our standards of service." If there’s a major reduction in foreign workers sending money to their families in Guatemala, El Salvador, Nicaragua and Honduras, those nations’ economies would suffer, and so would Pricesmart stores, the filing said.
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