Business leaders and economists are warning that the Trump administration’s new $100,000 fee on H-1B visas could hurt America’s innovation engine.

Investor Kevin O’Leary and economist Stephen Moore told FOX Business on Monday the move risks driving top global talent — the engineers and entrepreneurs who helped build Silicon Valley’s trillion-dollar giants — to other countries, undermining U.S. competitiveness and future job creation.

"My response to that, I think it's a bad idea on the H-1Bs. We need more of them, not fewer of them," Moore said on "Varney & Co." "The more H-1B visas we hand out, the more jobs we create in the United States."

"I think what this does is hurt innovation long-term. I agree that it's going to push these really talented people into other countries," O’Leary

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