Washington: U.S. President Donald Trump has signed a proclamation mandating a yearly fee of $100,000 for H-1B nonimmigrant visa applications, targeting highly skilled foreign workers. The move aims to encourage tech firms to train American workers over hiring foreign labor.

According to Yonhap News Agency, this new fee structure is anticipated to challenge Korean companies that rely on bringing skilled workers to the U.S. for setting up and managing factories. The current fee for an H-1B visa stands at $1,000, and the program is capped at 85,000 visas annually, primarily for professionals in science, technology, engineering, and math.

Commerce Secretary Howard Lutnick emphasized the administration's goal for tech companies to stop hiring foreign workers and instead focus on training Americans. He explained that the $100,000 fee, coupled with employee salaries, makes hiring foreign workers economically unviable, urging companies to invest in American graduates.

Lutnick clarified the fee's annual nature, stating that companies must evaluate if a worker's contribution justifies the cost. "Either the person is very valuable to the company and America, or they're going to depart and the company is going to hire an American," he noted, reinforcing the administration's stance on prioritizing American hires.

The proclamation coincides with South Korea's efforts to address skilled professional visa issues, following a U.S. immigration raid at a Korean plant in Georgia, which resulted in over 310 Korean nationals' arrests. This has sparked debate on whether Trump's immigration policies are at odds with his investment attraction efforts.

In a related development, Trump also signed an executive order for the "Gold Card" program, allowing expedited immigrant visa processing for those making substantial donations to the Commerce Department. The required gift is $1 million for individuals or $2 million for corporations acting on an individual's behalf.