Trump Imposes $100,000 Fee on High-Skill Visas, Raising Global Economic Concerns

Trump's $100,000 Visa Fee Sparks Concerns Over Economic Impact In a move that has sent shockwaves through the global tech community, President Donald Trump announced last week that the United States would begin imposing a $100,000 fee on all new H-1B visa applications. The high-skill foreign professionals who rely on these visas to work in the US are now facing an exorbitant sum, sparking concerns over the potential economic impact. The move is part of Trump's restrictive immigration policy, aimed at compelling companies to turn to high-skill American workers instead of relying on foreign talent. "We're going to take that money and we're going to reduce taxes, we're going to reduce debt," Trump said in a statement. However, critics argue that the fee will not only hurt American workers but also have far-reaching consequences for the economy. "This program is likely to hurt American workers and the whole economy," said Sean Rameswaram, co-host of the podcast "The Daily" that first reported on the story. "It's a misguided attempt to address the issue of immigration." Background research suggests that H-1B visas are crucial for many industries, including tech, finance, medicine, and science. The 85,000 people awarded these visas each year make up a significant portion of the workforce in these sectors. International experts have also weighed in on the matter, expressing concerns over the potential consequences of such a drastic measure. "This policy will not only harm American workers but also damage the country's reputation as a hub for innovation and entrepreneurship," said Dr. Maria Zuber, a renowned economist at MIT. The current status of the visa fee is that it has been implemented, with the first applications expected to be processed in the coming weeks. The impact on the economy and the tech industry remains to be seen, but experts warn that the consequences could be far-reaching. As the debate over immigration policy continues, one thing is clear: Trump's $100,000 visa fee has sent shockwaves through the global community, sparking concerns over the potential economic impact of such a drastic measure. *Reporting by Vox.*