New York [US]: JPMorgan Chase & Co. CEO Jamie Dimon has expressed concern over US President Donald Trump’s sudden decision to impose a $100,000 fee on H-1B visas, calling it an unexpected move that could impact global mobility and competitiveness.
Dimon: ‘It came out of the blue’
Speaking about the executive order, Dimon said the announcement had surprised major corporations and would require discussions with policymakers.
“It came out of the blue. We’ll be engaging with stakeholders and policymakers. For us, visas matter because we move people around globally — experts who get promoted to new jobs in different markets,” Dimon was quoted by Times of India.
The JPMorgan chief also stressed the importance of maintaining America’s reputation as a welcoming hub for skilled talent. “The challenge is that the US still needs to remain an attractive destination. My grandparents were Greek immigrants who never finished high school. America is an immigrant nation, and that’s part of its core strength,” he added.
Trump’s controversial visa order
The $100,000 H-1B visa fee was announced last week, sparking anxiety among technology firms, financial institutions, and foreign workers. Companies such as Microsoft, Amazon, JPMorgan and Meta immediately issued advisories, asking visa holders to stay in the United States or return before the September 21 deadline due to uncertainty around exemptions.
The White House later clarified that the fee applies only to new applications and not to existing visa holders or those seeking renewals. The rule also covers entries into the 2026 lottery system.
JPMorgan’s H-1B sponsorships
JPMorgan was one of the top 10 companies sponsoring H-1B visas in fiscal year 2024, approving visas for about 2,440 employees, according to US government data cited by Reuters. The new fee structure has raised concerns for firms that rely heavily on skilled foreign workers, particularly in technology and finance.
Trade relations and India’s role
Dimon also commented on US-India ties, expressing optimism about stronger cooperation between Washington and New Delhi. “I see India as a natural friend of America. I don’t think we need to ask you to align; we should extend our hand, build relationships,” he said.
His remarks come as Indian Commerce and Industry Minister Piyush Goyal visits Washington for discussions on a long-pending trade deal. The talks follow heightened tensions after Trump imposed a 25 per cent tariff on Indian imports, later doubling the levy to 50 per cent as a penalty for India’s Russian oil purchases.
Conclusion
As debate continues over the steep visa fee, Dimon’s comments highlight the challenges global corporations face in retaining talent mobility under shifting US immigration policies. Business leaders are expected to step up engagement with the White House to seek clarity and reduce uncertainty for employees worldwide.