Trump imposes a fee of $100,000 for a specific visa category
In a recent announcement, President Donald Trump unveiled a series of policies aimed at reshaping the US immigration and investment landscape.
The president introduced two new cards, the "Trump Gold Card" and the Platinum Card, which offer unique opportunities for individuals and businesses to settle in the United States.
The Trump Gold Card, adorned with an image of Trump's likeness and the Statue of Liberty in the background, allows one to settle in the US for $1 million. On the other hand, the Platinum Card, displayed next to the president's desk, grants the holder the privilege to stay in the US for up to 270 days a year for $5 million.
The president also announced changes to the H1B visa category, a programme often used by American tech giants to bring in qualified employees. Trump imposed a $100,000 fee for the H1B visas, payable annually, which is a significant increase from the previous processing fee of a few thousand dollars.
This move has sparked debate, with critics claiming that the H1B visa category is being misused and taking jobs away from American employees. However, supporters argue that the fee is intended to make it unprofitable for US companies to bring in inexperienced workers and train them.
The Commerce Minister, Howard Lutnick, encouraged US companies to consider if a job candidate is valuable enough to pay the government an additional $100,000 on top of their salary, suggesting an alternative to hiring H1B visa holders could be to hire American workers.
Meanwhile, the CEOs of major tech companies have been trying to build a closer relationship with the Trump administration, hoping to benefit from state-backed protection and investment incentives. Trump expressed optimism that the tech giants would be "very happy" with the new H1B visa regulation.
It's worth noting that a significant portion of H1B visa holders come from India. The exact impact of the H1B visa fee change on American tech giants remains unclear, as no specific information was provided in this announcement.
In addition, the US government, through the Department of Defence, introduced the "golden share" in companies like MP Materials and others, to support the production of rare earths. This move is part of a broader effort to strengthen ties between these companies and the Trump administration, in the hope of reaping benefits from government protection and investment incentives.
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