Business Leaders React Urgently to Trump’s $100K H-1B Visa Fee
URGENT UPDATE: Major business leaders are reacting to President Donald Trump’s shocking announcement of a $100,000 application fee for new H-1B visas, a move that could reshape the landscape of tech hiring in the U.S. just hours ago. The executive order, signed on Friday, aims to impose this hefty fee on companies seeking to hire foreign talent in high-demand sectors, sparking intense debates among industry giants.
Nvidia CEO Jensen Huang expressed his support during a live interview with CNBC, stating, “We want all the brightest minds to come to the U.S. Immigration is the foundation of the American dream.” Huang, alongside OpenAI CEO Sam Altman, is optimistic that this new fee will streamline the immigration process for top talent.
The H-1B visa program, crucial for U.S. companies, allows for the issuance of approximately 85,000 visas annually through a lottery system. The steep fee is expected to be applicable only to new applicants, leaving many workers on existing visas in a precarious position. In response, tech giants like Amazon, Meta, and Microsoft have advised their H-1B employees to avoid leaving the U.S. or to return quickly if currently abroad.
In stark contrast, Kevin O’Leary, a prominent investor and star of “Shark Tank,” warned that the new fee could stifle innovation. He remarked, “This does hurt innovation long-term… It will push talented people into other countries.” O’Leary criticized the fee, suggesting that instead of charging foreign graduates, the government should incentivize them to stay and contribute to the U.S. economy.
Netflix co-founder Reed Hastings praised the decision, calling it a “great solution” compared to the existing lottery system. He believes this change will ensure that H-1B visas are reserved for “very high-value jobs,” bringing more certainty to the hiring process.
The urgency of this situation cannot be overstated. With the U.S. tech sector heavily reliant on foreign expertise, the implications of this fee are profound. As business leaders voice their concerns, many are left wondering how this will impact America’s competitive edge in the global economy.
What’s Next? As the debate intensifies, industry stakeholders are closely monitoring the situation. Companies are expected to reassess their hiring strategies in light of this new financial burden. The future of the H-1B visa program hangs in the balance, and the tech community is bracing for potential shifts in policy.
Stay tuned for more updates as this developing story unfolds.
