I could see Australia, New Zealand, or Canada similarly benefitting if the U.S. turns towards xenophobia & warmongering.
Trump wants to beef up our military spending—what do you think he's going to do with all that extra hardware?
Anyway, I didn't mention political parties in my original post, and AFAIC trying to make this partisan is just projection. There are hawks on both sides of the aisle: the Democrats are milking Russophobia for all it's worth and seem to want to start a new Cold War, the Trumpists see the world as a clash of civilizations between the Judeochristian West and Islam, and old-line Republicans like McCain and Graham are very skeptical of Iran and China.
But that's still no excuse for genocide, segregation, and treating people like shit.
However, whether or not it becomes the top place for technologists to congregate and build things will become an open question.
That alone, while perhaps not dire to the nation as a whole, will be quite damaging. There, so far, has been an order of magnitude difference between the best technology ecosystem and the second best.
Japan is also looking to open up permanent residency rules, and it has suffered through a nearly two decades long spurt of deflation-driven economic stagnation, with incredible debt/GDP, some of it due to demographic concerns and an inverting age pyramid. Just pointing out that might not be the best counter-example.