US President Donald Trump in a turn of events said that he wants the American companies to hire Indian graduates from US universities before they go back to their home country and build big businesses 🍌there, amid the immigration crackdown.
Trump believes that his new initiative of 'gold card' citizenship will help US retain talent🌱s from countries like China, India and Japan whose contribution wil𝓀l boost their economy.
The 'gold card' visa is a US citizenship program where wealthy foreign investors will need to pay USD 5 millionfor a potential pathway to US citജizenship. This new visa program aims to replace the existing E♕B-5 visa and bring in more money to US economy.
What Did Trump Say?
Donald Trump was addressing the current immigration crackdown by his administration recently and stated that the system le𒁃d to several 'top international talent' especially from India stay away from moving to US to work there.
He reportedly stated, "A person comes from India, China, Japan, lots of different places, and they go to Harvard, the Wharton Scho🅘ol of Finance... they are made job offers, but the offer is immediately re𒈔scinded because you have no idea whether that person can stay in the country."
𒀰He further said that the talents who go back to their own countries like India end up building big businesses there and US misses out on such economic opportunities. He said, "They go back to India, or they go back to the country where they came from, and they open up a company, and they become billionaires. They're employing thousands of people."
Trump then mentioned that the 'gold card visa' program aims t🍒o allow the American companies to hire Indian graduates from the US universitie🍌s.
"We have to be abl🏅e to get people in the country, and we wa💝nt people that are productive people," Trump said.
What Are Gold Card Visas?
A day before, President Donald Trump announced that 💛he plans to offer a “gold card” visa with a path to citizenship for USD5 million, replacing a 35-ye🦹ar-old visa for investors.
Trump explained that with this visa, "They'll be wealthy and they'll be successful, and they'll be spending a lot of money and paying a lot of taxes and employing a lot of people, and we think it's going🔯 to be extremely successful."
Commerce Secretary Howard Lutnick said the “Trump Gold Card” would replace EB-5 visas in two weeks. EB-5s were created by Congress in 1990 to generate foreign investment and are available to people who spend about USD▨1 million on a company that employs at least 10 people.
The number of EB-5 visas is capped, Trump mused that the federal gov🃏ernment could sell 10 million “gold cards” to reduce the deficit. He said it “could be great, maybe it will be fan⭕tastic.”
“It's somewhat like a green card, but at a higher level of sophistication, it's a road to citizenship for people, and essentially people of w💟ealth or people of great talent, where people of wealth pay for those people of talent to get in, meaning companies will pay for people to get in and to have long, long term status in the country,” he reportedly said.
