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Is this just a modern spin on trickle down economics?

Your post makes the assumption that Americans are less qualified. Why is that?

A smaller selection pool is statistically less likely to be qualified, all else being equal.

>I t may hurt the individual, but helps the country.

No, it helps the Capitalists. Companies already do everything they can to avoid paying taxes. They'll move the business out of the country as soon as it is financially advisable.

When they’re not able to source labor locally, is that not incentive enough to leave?

They are able to source labor locally though. They're just not willing to pay market rate.

The fact that companies can import more exploitable workers who they can also pay less than market rate does not equate to them not being unable to find skilled local laborers.

There is an abundance of qualified local laborers.

Won't. not can't.

They are having their cake. They want non-American labor to lower wages, and American resources, locations, and customers to utilize. Do you see the issue here?