If you want to make the US an unappealing place to emigrate to, and thus drive down immigration and please your nativists, then it’s a smart move.
Based on the way the wind blows in US politics, this is a smart move. They could be even smarter, and once they’ve got the students out of the country, terminate their courses. There’s no way they’d ever want to come back after that, and it would be raucously popular with the natvist support base.