- Trump announced the Trump Gold Card program to retain skilled international graduates in the US
- The visa aims to help companies hire top students facing immigration hurdles after graduation
- Gold Card costs $1 million for individuals and $2 million for corporations with vetting fees
US President Donald Trump announced a new "Trump Gold Card" programme that he claimed would end the "ridiculous" system that forces skilled talent to leave after completing their studies. Trump said it is a "shame" that students from countries like India and China have to leave the US after graduating from top universities, as he touted that the new immigration initiative will enable companies to hire and retain such talent in the country.
Speaking at the White House, Trump said the new visa programme would give the US firms "certainty" in hiring highly trained international students, many of whom face years-long immigration hurdles despite graduating at the top of their class.
"It is a gift of getting somebody great coming into our country, because we think these will be some tremendous people that wouldn't be allowed to stay. They graduate from college, you have to go back to India, they have to go back to China, they have to go back to France. They have to go back to wherever they came from. Very hard to stay. It's a shame. It's a ridiculous thing. We're taking care of that," Trump said.
The president announced that the Gold Card website is live and companies can "buy" the Gold Card to keep the students they hire from top American universities such as Wharton, Harvard and MIT in the US.
Source Of Revenue
Trump said that he has heard from Apple CEO Tim Cook several times and other executives that they cannot hire people from the best colleges because "you don't know whether or not you can keep the person." Trump said students are "thrown" out of the country.
"You graduate number one from your college, and there's no way of guaranteeing... that they're able to stay in the country." Trump said Cook spoke to him about this "real problem".
The Trump Gold Card is a visa based on an individual's ability to provide a substantial benefit to the United States. It has been touted as a pathway for immigrants to US citizenship.
"It's not going to be a problem anymore. As you know, they used to send people up to Canada and other places, other countries. So we solved that," Trump said, adding that through the Gold Card, the US will take in billions of dollars that will be used for the country.
"So it'll be a great thing. We'll take in, I think, billions of dollars, many billions of dollars even. So that's very exciting," he said.
Trump added that the companies are now going to be very happy with the Gold Card, which will have greater advantages over a green card that offers permanent residency in the US.
Gold Card Cost
United States Secretary of Commerce Howard Lutnick said individuals could obtain the Gold Card for $1 million, while corporations could purchase one for $2 million. For companies, the card would allow them to retain an employee who undergoes "full vetting, the best vetting the government has ever done."
He said the vetting process would cost $15,000 and ensure the candidate "absolutely qualifies to be an American, absolutely qualifies."
Once approved, the employee would have a path to citizenship after five years, Lutnick said. A company could then "put someone else on the card", enabling firms to rotate foreign employees through long-term, employment-linked residency. "It's a gift to the United States of America... to help America be great again under Donald Trump," he added.
Lutnick clarified that the Trump Gold Card is part of the already approved visas, so this will ensure that only the "great people" come into this country. The average green card holder earned less than the average American, he said, adding that "they were more likely to be on the dole and on federal assistance programmes than average Americans.
"And the idea is from President Trump; he wants to raise it and bring in the best people into America. So same visas, but now just full of the best people," Lutnick said.
