this post was submitted on 19 Feb 2025
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Trump says he will introduce 25% tariffs on autos, pharmaceuticals and chips. (neuters.de)
submitted 3 days ago* (last edited 3 days ago) by Cat@ponder.cat to c/technology@lemmy.world
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[–] SnotFlickerman@lemmy.blahaj.zone 5 points 2 days ago* (last edited 2 days ago)

A lot of immigrants are paid more highly in the US than they are in their home countries.

The Indian Rupee, for example, has a poor exchange rate with the US dollar and they have higher salaries in the US.

So they take an H-1B job and they make enough to take care of themselves in the US and usually have US dollars they can send home to their family which can be exchanged for large amounts of rupees.

Current exchange is rougly $1 USD to about ₹80 rupees.

This will change as the US economy tanks and people stop using the US dollar as a reserve currency.