A common problem in latam and other geos is brain drain. Most of their best minds simply leave the country looking for better opportunities. That is impactful for the countries economies, the country invest a lot in people,but others see the benefits.
During last century, USA has been the most benefited from that kind of immigration.
Personally I think that this is a very short sighted decision by USA administration. But overall, I think that this will benefit the rest of the world. Maybe in a few years even USA will start exporting their best minds abroad!