Trump raises price of Big Tech's favored visa

The Department of Homeland Security (DHS) has announced a significant increase in the fee for H-1B visas, setting the new cost at over $103,000. The announcement was made on Monday and is expected to impact technology companies that rely heavily on foreign talent.

In parallel, the State Department is planning to revoke visas for as many as 200,000 asylum seekers. According to the Associated Press, this would represent the largest mass visa revocation in U.S. history. These moves come as part of the Trump administration's broader efforts to tighten immigration policies.

The H-1B visa is a popular choice for highly skilled foreign workers, particularly within the tech industry. A substantial fee hike could make it more challenging for companies to recruit international talent, potentially affecting their competitive edge.

The planned revocation of visas for asylum seekers has raised concerns among human rights organizations and could lead to significant humanitarian consequences. The administration is reportedly also seeking to reduce the undocumented population by pressuring noncitizens to relinquish their status.