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JPMorgan CEO pushes back on Trump's new visa cost for foreign workers

1. JPMorgan's CEO opposes Trump's $100,000 H-1B visa fee plan. 2. JPMorgan heavily relies on H-1B visas for skilled labor. 3. Dimon expects significant pushback from employers on the executive order. 4. The order requires companies to advise H-1B employees not to leave the US. 5. Trump administration clarified fees apply only to future applications.

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FAQ

Why Bearish?

Increased costs for H-1B visas may negatively affect JPM's operational budget, similar to past regulations that affected labor costs for firms relying on skilled workers.

How important is it?

The article directly mentions JPMorgan's reliance on H-1B visas, impacting their workforce and cost structure.

Why Short Term?

Immediate financial implications from raised visa fees will impact JPM’s short-term profitability as they adapt to new labor cost structures.

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