Dimon says Trump's new H-1B visa fee 'has all caught off guard'

Jamie Dimon, CEO of JPMorgan Chase & Co. “It caught everyone off guard,” Dimon said in a CNBC TV18 interview. ‘And that’s why we had a lot of phone calls this weekend. What does that mean? ‘ Late last week, Trump signed a proclamation that slapped a $ 100,000 fee on new H-1B requests as a state of access to the US, causing confusion and panic among employers and workers. The lack of clarity on the new rules has led to technology firms, including Microsoft Corp., Amazon.com Inc. and Alphabet Inc.-of the greatest beneficiaries of the H-1B program-on-foreign-travel employees. The Trump administration later made it clear that the fee would only be set to new petitions. “For us, visa matters are because our people are moving around worldwide – experts who are promoted to new jobs in different markets,” Dimon told The Times of India separately. “The challenge is that the US still has to remain an attractive destination,” he said, adding that its grandparents were Greek immigrants. JPMorgan is one of the top 10 businesses in the US that sponsors visas, with 2440 employees having H-1Bs, according to data from US citizenship and immigration services. Dimon expects a little setback for the plan, he told CNBC TV18. “I think all nations want real border control. It helps to make a nation. But after that we must, you know, good immigration. ‘ © 2025 Bloomberg MP This article was generated from an automatic news agency feed without edits to text.