U.S. President Donald Trump has signed a sweeping executive order introducing a $100,000 yearly fee for companies applying for H-1B visas for skilled foreign workers. The policy will take effect on September 21, 2025. “Companies need to decide — is the person valuable enough to have a $100,000-a-year payment to the government, or should they head home and go hire an American?” said US Commerce Secretary Howard Lutnick. “All of the big companies are on board.” The fee will apply to all new H-1B visa applications and must be renewed annually for up to six years. According to the BBC, the programme—currently capped at 85,000 visas per year—has long been vital for tech companies and startups relying on highly skilled foreign talent. Previously, the associated fees were about \$1,500. Critics warn that the new measure could significantly weaken U.S. competitiveness in the global economy, particularly in the technology sector. “This $100,000 as an entry point is going to have a devastating impact,” said Tahmina Watson, an immigration attorney based in Seattle. “Almost everyone’s going to be priced out. Many small or medium-sized companies simply can’t find qualified Americans to do the job.” The executive order also introduces a new “gold card” system, offering fast-track immigration for certain high-net-worth individuals in exchange for fees starting at £1 million. Last month, the US introduced a pilot programme requiring bonds of up to $15,000 for some tourist and business visas. In June, a travel ban restricting entry from 12 countries was announced.