H-1B Visa Announcement Came Out Of The Blue: JP Morgan CEO Jamie Dimon

JP Morgan Chairman and CEO Jamie Dimon was surprised over the move by US President Donald Trump regarding H-1B visa fee hike, calling it an unexpected development that could impact global talent mobility.

In an interview with The Times of India, Dimon said, "It came out of the blue. We'll be engaging with the stakeholders and policymakers. For us, visas matter because we move people around globally, experts who get promoted to new jobs in different markets."

Dimon emphasised the importance of the US remaining a welcoming destination for global talent. "The challenge is that the US still needs to remain an attractive destination. My grandparents were Greek immigrants who never finished high school. America is an immigrant nation, and that's part of its core strength," he told TOI.

The remarks come amid renewed scrutiny of US immigration policies and their impact on skilled foreign workers, particularly in the tech and finance sectors, where cross-border talent movement is critical.

On Friday US President Donald Trump imposed a higher $100,000 fee for new H-1B visas as a one-time payment. 

Trump's proclamation applies to new visa applicants going forward. The fee of $100,000 is on an application basis, not on a per-year basis. Generally, once approved, H-1B visas are valid for three years and can be extended up to three years, Morgan Stanley said.

Beyond immigration, Dimon also spoke to TOI about broader geopolitical and economic issues, including trade, tariffs, and India’s growth trajectory. He reiterated his support for free trade, “except when it comes to national security,” and expressed hope that leaders like Prime Minister Narendra Modi and Donald Trump could work toward a trade agreement.