President Donald Trump on Friday signed an executive action imposing a $100,000 application fee for H-1B visas, a dramatic escalation in his administration’s effort to tighten U.S. immigration policy. Speaking from the Oval Office, Trump said the measure would encourage companies to prioritize hiring American workers while maintaining a path to bring in “highly skilled” foreign talent.

The H-1B visa is a U.S. work visa valid for three years — renewable for another three — and is primarily designed for highly skilled foreign professionals in specialized fields such as technology, engineering, and medicine. U.S. companies often use the program to recruit talent that is difficult to find domestically, particularly in the tech sector. Currently, 65,000 H-1B visas are issued annually, with an additional 20,000 reserved for individuals holding advanced U.S. degrees.

Under the new policy, entry under the H-1B program will be restricted unless the $100,000 fee is paid. Commerce Secretary Howard Lutnick said the administration is still debating whether the full $300,000 for a three-year visa will be collected upfront or in annual installments.

Trump also unveiled a separate “gold card” immigration pathway designed to fast-track visas for wealthy or entrepreneurial immigrants. Under this initiative, individuals can pay $1 million to expedite their visa, while companies can pay $2 million to fast-track a foreign worker they sponsor.

Supporters argue the changes will ensure that only top-tier talent enters the U.S., but critics warn the policy could harm industries heavily reliant on foreign workers and exacerbate labor shortages in STEM fields.