President Donald Trump announced plans to impose a $100,000 annual fee on H-1B visas, alarming major tech companies and foreign governments. The fee would apply per worker, per year, potentially impacting companies heavily reliant on skilled immigrants. Amazon, Microsoft, and JPMorgan Chase advised H-1B visa holders to stay in the U.S.

The move is Trump’s most aggressive attempt to restrict legal immigration. Amazon employed the most H-1B holders, with Microsoft, Meta, Apple, and Google also among top recipients. Foreign governments, including India and South Korea, are assessing the implications of the new rules on their countries and industries.

The announcement sparked shockwaves in corporate America, prompting companies to advise H-1B visa holders to stay in the U.S. and avoid international travel. The fee threatens to disrupt America’s technology workforce, particularly affecting companies in the technology and finance sectors. Foreign governments are scrambling to assess the impact on their industries and skilled workers.

Read more at CNBC: Trump H-1B visa tech foreign governments