💰 Trump slaps $100,000 fee on H-1B visas

Donald Trump is overhauling the visa system for skilled foreign workers, introducing a $100,000 annual fee for H-1B applications, a dramatic jump from the current $995.

Commerce Secretary Howard Lutnick bragged that “no more will these big tech companies… train foreign workers,” while Trump signed a parallel “gold card” visa scheme, offering residency to anyone willing to pay $1 million.

🔻 Financial Times noted that the news sent shares of IT consulting giants tumbling, with Cognizant down 4.7% and Infosys down 3.4%. About 75% of H-1B approvals last year went to Indian nationals, meaning the move risks inflaming trade tensions with New Delhi.

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