JPMorgan Reacts to Trump's H-1B Visa Fee Hike
JPMorgan engages with stakeholders after President Trump's $100,000 H-1B visa fee announcement, which surprised many including CEO Jamie Dimon. Dimon emphasized the importance of visas in global talent movement. The fee applies to new requests, affecting employers like JPMorgan, a top visa sponsor in 2024.
In an unexpected move, President Donald Trump's administration announced a $100,000 one-time fee for each H-1B visa, prompting JPMorgan and other major tech companies to engage with stakeholders and policymakers. CEO Jamie Dimon highlighted the global nature of talent movement within the company, which sponsors a significant number of visas annually.
The fee announcement took industries by surprise, said Dimon, emphasizing the vital role of visas for business operations across borders. The White House clarified that the fee targets new visa requests, not existing holders re-entering the U.S., presenting a challenge for employers like JPMorgan, a leading H-1B sponsor.
Amid these developments, trade discussions between the U.S. and India remain tense, with hopes pinned on an agreement between Trump and Indian Prime Minister Narendra Modi. Recent U.S. tariff increases on Indian imports and stalled trade talks underscore the complex geopolitical landscape.
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