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UPDATE:

President Trump's administration fulfilled a campaign promise on Friday, saying H1-B visa's will now cost companies $100k per employee. The program has been regularly abused by American firms to acquire overseas labor at reduced cost, compared to American workers.

The Trump administration said on Friday it would ask companies to pay $100,000 per year for H-1B worker visas, potentially dealing a big blow to the technology sector that relies heavily on skilled workers from India and China, reported CNBC.

“A hundred thousand dollars a year for H1-B visas, and all of the big companies are on board. We’ve spoken to them,” U.S. Commerce Secretary Howard Lutnick said on Friday.

“If you’re going to train somebody, you’re going to train one of the recent graduates from one of the great universities across our land. Train Americans. Stop bringing in people to take our jobs,” he said.

India was the largest beneficiary of H-1B visas last year, accounting for 71% of approved beneficiaries, while China was a distant second at 11.7%, according to government data.

The new policy will also reduce national security risk, as foreign nationals will not be so heavily involved in American cyber activity over time.

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