JPMorgan Navigates $100,000 H-1B Visa Fee Challenge

JPMorgan is in discussions with stakeholders and policymakers following President Donald Trump's announcement imposing a one-time fee of $100,000 for H-1B visas, according to a report by the Times of India. CEO Jamie Dimon shared insights in a recent interview, emphasizing the impact on global manpower deployment.

Several major tech companies have advised visa holders to remain in the United States or return swiftly after the administration's directive requiring companies to cover the hefty visa fee. "Visas are crucial for us because they allow the international movement of our professionals," Dimon explained.

The White House later clarified that the new fee is for each visa request and won't affect current visa holders re-entering the U.S., providing some relief to companies concerned about operational disruptions.

(With inputs from agencies.)