Which industries are most vulnerable to Trump's immigration crackdown?
CBSN
In one of his first acts after returning to the Oval Office this week, President Trump tasked federal agencies with developing ways to potentially ease prices for U.S. consumers. But experts warn that his administration's crackdown on immigration could both drive up inflation as well as hurt a range of businesses by shrinking the nation's workforce.
"A reduction in labor supply means upward pressure on wages, which has different sector implications including inflationary pressure, especially for food prices," Stephen Brown, deputy chief North America economist with Capital Economics, told CBS MoneyWatch.
David Bier, director of immigration studies at the Cato Institute, a libertarian think tank, said labor shortages stemming from the Trump administration's push to remove undocumented immigrants could curtail the production of some products and services.
