How many of your fellow citizens do you know who have the skills to get a good job and don't get one because of foreign competition? All I know is companies having trouble hiring really good people.
I know multiple Americans who are good software developers with good credentials who would be qualified for that job and similar but never got them.
An oldie by now, but still relevant: https://spectrum.ieee.org/at-work/education/the-stem-crisis-...
It's kind of a chicken and egg problem. I certainly know people with skills to do what used to be good jobs, but aren't good jobs anymore due to foreign competition.
Hiring isn't a competition to find the smartest candidate, silly Google interviews notwithstanding. Companies want the "good enough" candidate they can get for the least pay. Otherwise all job ads would express a preference for principal engineers with doctorates, instead of the opposite which is far more common. So yes competition drives down pay, it doesn't drive up everyone's skills.