Key insights
- A federal judge has ruled that the $100,000 fee imposed by the Trump administration on new H-1B visas for skilled foreign workers is unlawful. This decision could potentially ease restrictions on foreign talent entering the US, which may have a slightly positive implication for sectors reliant on skilled labor, though the direct impact on broader equity markets is limited.
BOSTON, June 8 (Reuters) - A federal judge on Monday declared a $100,000 fee that U.S. President Donald Trump imposed on new H-1B visas for highly skilled foreign workers is unlawful and must be invalidated.
U.S. District Judge Leo Sorokin in Boston issued the ruling in a lawsuit filed by 20 Democratic state attorneys general challenging a fee Trump announced in September that dramatically raised the cost of obtaining H-1B visas.
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