Shep Smith rains on Trump's Buy American announcement: Prices will go way up for you

Fox News host Shep Smith warned Tuesday that President Donald Trump's latest executive order could cause the cost of goods to increase.

Shortly before Trump announced he would sign a so-called "Buy American and Hire American" order to review the H-1B visa program for foreign workers, Smith said the president's executive action could harm the U.S. economy instead of improving it.

"Tech giants including Amazon, Apple, Google, and others all hire thousands and thousand of using it," the Fox News host explained. "Even automakers, including Ford and GM, use this program to find engineers. Executives for those companies argue they can't always find enough American workers with the skills needed for the specific jobs. They also claim the program encourages students to stay in the United States after school."

"But the White House says the companies take advantage of those visas, that they bring in large numbers of foreign workers pay them less, and drive down wages," Smith continued. "President Trump himself has gone back and forth over this program. And as for the president's push to 'buy American,' opponents point out the obvious, that some of the president's own products were made from workers from about a dozen other companies. And besides... the price of everything at your Walmart and your local store and everywhere else goes way up for you."

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