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JPMorgan CEO pushes back on Trump's new visa cost for foreign workers
Business Insiderยท 2025-09-23 21:16
Core Viewpoint - JPMorgan CEO Jamie Dimon opposes Trump's plan to impose a $100,000 fee for H-1B visa applications for skilled overseas workers, advocating for merit-based immigration instead [1][2]. Group 1: Company Response - JPMorgan, along with other major companies like Goldman Sachs and Amazon, has advised employees with H-1B visas not to leave the country or to return to the US if they are already abroad due to the executive order [3]. - The executive order, which will charge employers $100,000 for H-1B visa applications starting on October 1, has caused significant concern among companies reliant on skilled foreign labor [4]. Group 2: Industry Implications - Dimon emphasized that employers utilize H-1B visas because they require specific expertise, indicating potential pushback from the business community against the new fee [2]. - An analysis by Business Insider highlighted that JPMorgan is a leading user of H-1B visas, ranking No. 1 among financial companies in this regard [2].