"Dimon said while he's in favor of "merit-based immigration," the move will elicit resistance from U.S. companies who rely on expertise from non-U.S. employees. "I would beg the president. He has accomplished border control-that's great. I mean, I think all nations want real border control; that helps make a nation. But after that, we should have good immigration," he told CNBC at JPMorgan's 10th Annual India Investor Conference on Tuesday. "I think there will be some pushback on the H-1Bs.""
"The JPMorgan boss joins a chorus of CEOs pushing back against the executive order, warning the proclamation would prevent U.S. companies from accessing top global talent, particularly to fill in-demand STEM positions. Others, including Nvidia's Jensen Huang and OpenAI's Sam Altman, have supported the measure as a way to ensure that only the highest talent is able to enter the country for work."
President Trump issued an executive order imposing a one-time $100,000 fee on new H-1B visas, affecting employers hiring specialized foreign tech workers. Jamie Dimon supports merit-based immigration but warned the fee will prompt pushback from U.S. companies reliant on non-U.S. expertise. JPMorgan sponsored 1,990 certified H-1B filings in fiscal 2024 and plans to consult stakeholders and policymakers about the change. Several CEOs oppose the order as harmful to access to global STEM talent, while some leaders like Nvidia's Jensen Huang and OpenAI's Sam Altman back the measure as a filter for top-tier hires. Visas enable JPMorgan to reassign promoted experts globally.
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