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The U.S. government has suspended the distribution of new visas for commercial truck drivers, which may catalyze inflation rise.
Jin10 data reported on August 22 that U.S. Secretary of State Rubio announced on Thursday that the federal government would suspend the distribution of new commercial truck driver visas, citing that the increase in foreign drivers threatens safety and impacts the livelihoods of domestic drivers. This move could exacerbate the labor shortage issue in the U.S. trucking industry. According to industry data, there is currently a shortage of tens of thousands of drivers in the trucking sector, with about 18% of the current drivers being foreign immigrants. Although the impact of the new regulations on existing foreign drivers' identification is still unclear, analysts point out that this could prevent new drivers from entering the country or existing drivers from renewing their contracts. The shortage of truck drivers has long been considered one of the factors contributing to rising inflation.