Good morning. Elon Musk Note It is in the United States due to the H-1B visa. I came to the United States on one as well. Likewise, Melania Trump did. The possibilities are high because none of us was able to work here, if our employers cost $ 100,000 per pop. Donald Trump’s decision to raise the cost of this main visa for foreign workers dramatically during the weekend, followed by a moderate reduction that the current owners are exempt, but it is widely about what this means to work. Susan Clark, CEO of the American Chamber of Commerce Company, told me yesterday: “We were overwhelmed with members’ requests,” Susan Clark, CEO of the American Chamber of Commerce yesterday told me. “We are working with management and our members to understand the full effects and the best path forward.”
Technology and consulting giants will bear the cost of this cost – Amazon had to pay More than one billion dollars If these fees were imposed on visa holders – but thousands of small companies and startups depend on the program. There is no doubt that the court will be challenged because the new visa fees are usually the field of Congress, but at the present time, the fees stand. Here is the reaction that I heard from some leaders this week, and many of them were in the city for the climate week and the United Nations General Assembly.
The system needs reform– I was surprised to hear a veteran technology leader consistent with The White House disagreement The H-1B made it easy for American companies to use foreign talents for beginners instead of searching for workers at home. He told me: “The lottery is not worthy.” “Companies use these visas to remove American workers. This is just a fact.” With General Z struggling to find work, something was to present.
Foreign workers fuel innovationThe contract is the best and brightest from all over the world is part of the secret American sauce. Many entrepreneurs come as foreign students, in the end they get H-1B that enables them to build successful companies and professions here. The Labor Statistics Office estimated that the United States will need more than a million additional STEM workers between 2023 and 2033. Artificial intelligence and automation may reduce the demand for employment, but the impact of a double talent double does not diminish.
You will resist the industryCEOS was significantly lukewarm in response to various White House movements, from customs tariffs to directives on how to manage their business. But the fear of the president’s anger gives way to frustration: One of the executives born in a foreigner spoke to him: “I show me a country that wins by removing talents, shooting at experts and making it more expensive to do commercial work.”
Call the executive daily via Diane Brady at Diane.brady@fortune.com
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