‘I would beg the president’: Jamie Dimon, one of Wall Street’s top H-1B visa users, predicts ‘pushback’ because big employers need top expertise

Core Viewpoint - JPMorgan Chase CEO Jamie Dimon expresses concerns over President Trump's new $100,000 fee for H-1B visas, emphasizing the potential negative impact on U.S. companies that rely on skilled foreign workers [1][2][3] Group 1: Immigration Policy Impact - Dimon supports merit-based immigration but anticipates pushback from U.S. companies dependent on non-U.S. expertise due to the new visa fee [2] - JPMorgan is a significant sponsor of H-1B visas, with 1,990 certified filings for fiscal 2024, indicating the bank's reliance on foreign talent [2] - The new fee could lead to a reduction of up to 5,500 work authorizations per month, based on projections from JPMorgan economists [4] Group 2: Labor Market Concerns - Analysts at JPMorgan predict that the $100,000 fee will impact 65,000 of the 141,000 approved petitions for new employment requiring consular processing [4] - Dimon highlights the importance of maintaining the U.S. as an attractive destination for global talent, referencing the nation's immigrant roots as a core strength [4]