Wall Street SLASHED Foreign Visas After Trump Crackdown

Goldman Sachs slashed H-1B petitions by over 60% and JPMorgan cut nearly 29% after President Trump’s visa crackdown, proving America First policies force Wall Street elites to prioritize U.S. workers over cheap foreign labor.

Story Highlights

Goldman Sachs H-1B certifications dropped from 256 to 101, a 60% plunge in FY2026 Q1.
JPMorgan Chase filings fell nearly 29% from 724 to 516 amid $100,000 fees and vetting rules.
Citi boosted petitions nearly 20%, Barclays up two-thirds, Morgan Stanley up over 25%.
Overall, top financial filers certified 10% fewer applications, top 20 down 25%.
Policy shift protects American jobs as AI displaces some tech roles.

Trump’s Bold H-1B Reforms Take Effect

In late September 2025, the Trump administration imposed a $100,000 fee on H-1B petitions, added social media vetting, and shifted to a wage-based lottery favoring higher-paid applicants. These changes, building on first-term restrictions, target the H-1B program created in 1990 for specialty occupations like tech and finance. The annual cap remains 85,000 visas, with a lottery for excess applications. Department of Labor data for FY2026 Q1 (October-December 2025) shows immediate impact on Wall Street firms reliant on foreign talent for data science, engineering, and front-office roles.

Sharp Declines Signal Cost Sensitivity

Goldman Sachs certified just 101 H-1B applications in Q1 2026, down over 60% from 256 the prior year. JPMorgan Chase saw a nearly 29% drop to 516 from 724, with filings focused on tech roles. Across top financial filers, certifications fell 10%; the 20 biggest users dropped 25%. Firms declined comment requests, but declines reflect higher costs and complexity amid layoffs and hiring freezes in finance and tech. This forces reevaluation of sponsorship strategies, potentially shifting to domestic hires.

AI advancements contribute to reduced demand for certain white-collar tech jobs, amplifying policy effects. Tech giants like Amazon, Google, Meta, and Microsoft reported sharp declines, except Nvidia amid its AI boom. Financial firms’ mixed responses highlight strategic differences: cost-sensitive giants retreat while competitors press forward.

Competitors Gain Edge Amid Pullback

Citi increased H-1B certifications nearly 20%, Barclays rose nearly two-thirds, and Morgan Stanley grew over 25%, with roles spanning tech and finance. Capital One saw a 4% uptick in data and machine learning positions. These gains position rivals to capture talent as Goldman and JPMorgan scale back. Sector-wide trends confirm preliminary Q1 data, with March 2026 lottery outcomes pending. Certifications ensure fair wages and no harm to U.S. workers, aligning with administration goals.

U.S. Chamber of Commerce warns the $100,000 fee proves cost-prohibitive for startups and small firms, filing suits claiming unlawfulness, echoing first-term challenges. Rep. Raja Krishnamoorthi argues restrictions threaten competitiveness against China. Yet pro-restriction views emphasize job and wage protection for Americans, fulfilling America First promises amid economic pressures.

H-1B petitions fall at Goldman Sachs and JPMorgan and rise at Citi after Trump's visa crackdown https://t.co/QfWkNTvWnS

— BargainBest777 (@nataliecorri) April 10, 2026

Protecting American Workers and Principles

Short-term, higher costs deter filings and accelerate AI adoption over foreign hires, benefiting U.S. employees with possible wage gains. Long-term implications include talent strategy shifts and potential shortages, though critics like the Chamber predict reduced innovation. Emily J. Thompson, Senior Investment Analyst, notes variability signals corporate adaptations to AI uncertainties. Data limitations persist: certifications differ from approvals, with multiple filings possible per worker and full-year trends unclear.

Both conservatives frustrated by globalism and liberals wary of elite power recognize government failures in prioritizing citizens. Trump’s crackdown counters deep state influences favoring cheap labor over American dreams of success through hard work. As Republicans hold Congress, these policies advance limited government and individual liberty, even as Democrats obstruct. Wall Street’s response underscores policy leverage for U.S. priorities.