International students in America can look forward to some good times ahead. President Trump has proposed ‘gold cards’ for American businesses to retain top university students post-graduation, aiming to attract wealthy immigrants to the US.
President Donald Trump in a press conference in the Oval Office of the White House announced that the US government will soon launch a Gold Card. This gold card can be used by companies like Apple to retain good talent in the country.The EB-5 immigrant investor visa program will be replaced by the ‘Gold Card’ for foreigners ready to invest $5 million in the American economy.
“I get calls from, as an example, companies where they want to hire the No. 1 student at the school, person comes from India, China, Japan, lots of different places, and they go to Harvard to Wharton School of Finance, they go to Yale. But they are not hired by top companies as they are not sure whether these employees will stay in the country,” Trump said Wednesday as he convened his first full Cabinet meeting of his second term.
Trump has suggested that US firms face challenges in attracting and retaining high-quality talent due to uncertainty over the immigration status of some students. US companies, particularly in Silicon Valley, face challenges in filling positions, and President Trump aims to welcome more legal immigrants with high-demand skills or wealth to invest in the country. “These companies can go and buy a gold card, and they can use it as a matter of recruitment,” he said, per Bloomberg.
If Trump’s Gold Card is successful, it might help to eliminate the United States’ $35 trillion deficit. For example, a million cards would earn $5 trillion for the United States government. If 10 million gold cards are printed, the amount will be $50 trillion, which would cover the United States’ $35 trillion debt.
