President Donald Trump signed a proclamation on Friday that imposes a $100,000 annual fee on H-1B visas, thereby changing how foreign workers get hired within the U.S.

"The whole idea is no more will these big tech companies or other big companies train foreign workers. They have to pay the government $100,000, then they have to pay the employee, so it’s just not [economical]," Commerce Secretary Howard Lutnick told reporters on Friday as Trump signed the order. He added, "All of the big companies are on board."

A White House official familiar with the matter told FOX Business that the fee applies to new visas and will not impact renewals or current H-1B visa holders.

In addition to the fee, Trump also rolled out a " gold card ," which will give wealthy individuals a pathway to citi

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