This is a short-term thing, the ARK Invest CEO said, adding that it's definitely a "punishment" for India. "Productivity is one of the most potent anti-inflationary forces."

The program for highly skilled foreign workers has come under scrutiny from the administration

Move deals potentially major blow to US tech industry, which relies heavily on workers from India and China

Decision could be major blow to tech industry, but commerce secretary says ‘all of the big companies are on board’

WASHINGTON: US President Donald Trump on Friday ordered an annual $100,000 fee be added to H-1B skilled worker visas, creating potentially major repercussions for the tech…

India’s foreign ministry says Trump administration’s move to increase H1-B visa fees may have humanitarian consequences.

The moves face near-certain legal challenges amid widespread criticism he is sidestepping Congress.

The announcement to impose a $100,000 annual fee on H-1B visas sent shockwaves through corporate America.

Donald Trump is targeting H-1B visas frequently used by the tech industry with a $100,000 per-year fee.

Trump's H-1B visa fee hike to $100,000 annually shocks Indian tech workers in the U.S., impacting global IT industry.

Donald Trump has said those applying for H-1B visas will have to pay $100,000, roughly 60 times the current fee, starting Sunday.

More than 70% of H-1B visa holders are from India.

WASHINGTON: President Donald Trump ordered on Friday that an annual $100,000 fee be added to H-1B skilled worker...

President Trump signed a proclamation on Friday adding a $100,000 fee to visas for skilled foreign workers. Immigration hard-liners have criticized the program for replacing…

The United States awards 85,000 H-1B visas per year on a lottery system, with India accounting for around three-quarters of the recipients.

The H-1B visa programme is used heavily by Indian outsourcing firms as well as the US tech sector to bring in skilled workers from abroad.

India may adapt, but the US risks losing skilled workers who have helped build the Silicon Valley and hospitals.

Also: All the news and watercooler chat from Fortune.

Move is a blow to big tech companies, which rely heavily on visas to hire staff from overseas, particularly India

The six-figure H-1B visa fee has jolted companies that have long relied on the program to bring in top global talent.

The founder of Greycroft Partners says "there is not a single company that I have invested in the last 10 years that could afford to pay this."