- Trump announces $100,000 fee per H-1B visa, sparking corporate alarm.
- Jamie Dimon: move “caught everyone off guard,” vital for global talent flow.
- JPMorgan to engage policymakers in US and India over visa policy.
- White House clarifies fee applies only to new H-1B applications.
- Dimon urges progress on a US-India trade deal amid tariff disputes.
GG News Bureau
Washington, 23rd Sept: JPMorgan Chase will hold discussions with key stakeholders and policymakers after US President Donald Trump announced a one-time fee of $100,000 for each H-1B visa, CEO Jamie Dimon told the Times of India in an interview published Tuesday.
Dimon said the abrupt move “caught everyone off guard,” adding that visas are vital to JPMorgan’s global operations where specialists frequently move across markets.
The Trump administration’s plan—part of a broader immigration crackdown—has already prompted major tech firms to warn H-1B holders to remain in the United States or return quickly. The White House later clarified the hefty charge applies only to new visa requests, not to existing holders re-entering the country.
JPMorgan was among the top 10 H-1B sponsors in FY24, securing approvals for about 2,440 employees, US data show.
Dimon also expressed hope for a breakthrough on the stalled US-India trade pact, saying, “India is a natural friend of America… we should extend our hand and build relationships.” Commerce Minister Piyush Goyal is currently in Washington to fast-track negotiations after a US delegation’s August visit to New Delhi was cancelled amid tariff tensions.
Trump last month imposed a 25% punitive levy on Indian imports, doubling overall tariffs to 50% in an ongoing pressure campaign linked to Moscow’s war in Ukraine.
