JPMorgan talks with stakeholders on Trump’s $100,000 H-1B visa fee proposal — what we know

According to a Reuters report, JPMorgan meets policy makers and stakeholders in the midst of the US government’s H-1B visas. The United States President Donald Trump increased the H1-B visa fee to $ 1.00,000 for new applications.

Jamie Dimon, CEO of JPMorgan CEO, speaking to Times of India, said the company “interacted with stakeholders and policy makers”.

Jamie Dimon said to the newspaper, “For us, visas are moving people globally because we move people globally – experts who are promoted to new jobs in different markets.”

In a separate interview with the news channel CNBC-TV18, Dimon said that Trump’s announcement was “on duty”.

New H-1B visa fees: what

On September 19, Donald Trump signed a statement titled ‘Restriction to the Entry of Non-Immigrant Workers’, which increased H-1B visa fees to $ 1.00,000 for all new applications.

The scope of the White House on September 20 and the great turmoil on the thinner details of the new rule (around the $ 1,00,000 fee (around La90 lakh) is not an annual fee.

In a detailed article on the social media platform X, the White House spokesman Karoline Leavitt, “This is not an annual fee. A fee of one -time fee that is valid for the valid visas that are valid for the petition and re -entering the country.”

The H-1B program provides 65,000 visa to employers who hire temporary foreign workers in private areas as well as 20,000 visa for advanced workers.

Almost all visa fees must be paid by employers. According to a report of Reuters, H-1B visas are given for a period of three to six years.

How did companies react?

The Exorbitan hike triggered a panic wave among US companies, especially between technology giants such as Meta and Microsoft.

• Microsoft asked the H-1B and H-4 visa holders outside the United States to return to the country before the deadline for September 21st.
• On the other hand, JP Morgan asked the H-1B visa to avoid international travel until more guidance was provided.
• A Goldman Sachs internal note on Saturday by Reuters called on employees to be careful about international travel with such visas.

(With inputs from Reuters)