President Joe Biden is expected to sign an executive order on Tuesday to temporarily close the U.S.-Mexico border to migrants when it exceeds a certain threshold, suspending long-standing asylum protections.

What Happened: According to the New York Times, a Biden-signed executive order on this issue marks a significant policy shift.

News sources reported two different ranges of thresholds: The New York Times stated via sources it could be an average of 5,000 border crossings in a week, or 8,500 in a single day.

AP cites that the executive order “would shut down asylum requests to the U.S.-Mexico border once the number of daily encounters hits 2,500 between ports of entry, with the border reopening once that number declines to 1,500, according to several people familiar with the discussions.”

Earlier this year, former President Donald Trump took credit for Republican Senators voting against bipartisan border legislation, arguing that its passage would be a political win for Biden.

Since then, thousands of migrants continued to cross the border daily.

Biden’s latest effort marks the most restrictive border policy by any modern Democrat. It’s also reminiscent of a 2018 attempt by Trump, which faced harsh criticism and legal challenges.

Biden faces immense pressure to address illegal migration, a key voter concern. Polls indicate increasing support for stricter border measures among Democrats.

The order allows border officials to deny asylum claims and swiftly turn away migrants if crossings exceed a set threshold.

Why It Matters: Sunday reportedly saw over 3,500 migrant apprehensions at the border.

Immigration is among the major issues concerning voters in the upcoming 2024 presidential election.

Republicans and Democrats both face criticism for not taking action. But when the GOP hindered additional border enforcement this year for Trump’s sake, it marked a significant policy shift between the parties.

For example, in 2019 Biden ran on a platform that criticized then-President Trump’s asylum policies. Biden asserted that asylum seekers should present their cases within the U.S.

This new order demonstrates a significant departure from that stance.

ETFs To Watch: according to Benzinga Pro data, there are several exchange-traded funds (ETFs) to follow as this news unfolds. They include:

iShares U.S. Home Construction ETF (BATS:ITB)
iShares U.S. Health Care Providers ETF (NYSE:IHF)
iShares Global Infrastructure ETF (NASDAQ:IGF)
and iShares TIPS Bond ETF (NYSE:TIP)

Now Read: Jon Stewart Mocks Donald Trump For New Immigration Crisis Phrasing, Hannibal Lecter Comparisons

Disclaimer: This content was partially produced with the help of Benzinga Neuro. Benzinga editors reviewed and published the article.

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Biden To Sign Executive Order To Limit Asylum Seekers Crossing US-Mexico Border: Report