I don’t think the problem is with the foreign people accepting lower wages and forcing more competition. I believe it is more of a symptom/mechanism of wage theft. Which has been going on for decades to bleed the workforce dry and enslave them through unrepayable debts.
Though I believe foreign graduates taking less pay for employment is not the problem or inherently bad, it’s not helping workers as a whole.
I believe that in addition to your suggestions there would need to be stronger wage and worker protection laws to prevent companies from clearing out employees with longer tenure/higher rates of pay before enacting this specific type of policy.
I think that would allow for a more healthy competition where incumbent workers/natural citizens won’t be replaced/undercut by foreign graduates who have to debase themselves by taking lesser pay for the same work.
In my opinion it’s as if Trump would do this as a way to weaponize cheaper labor against the working class so corporations can improve their margin by slashing labor costs.
I could be totally wrong, and am open to other opinions but maybe that’s where OP’s line of thinking may be.
With more articles like this I’m going to start taking what the Onion publishes more seriously.