Trump Suggests Companies Will Pay Millions for His New 'Gold Card' for 'Recruitment' to Hire International Students

President Donald Trump announced plans for a $5 million "Gold Card" program that would allow wealthy foreigners and international students to secure U.S. residency via job security.

Trump has long promoted restrictive immigration policies, but his administration has also explored ways to attract high-value immigrants. In 2019, policy expert Alex Nowrasteh proposed an "immigration tariff" that would allow foreigners to work legally in the U.S. after paying a substantial fee.

Now, Trump is reviving a similar idea, positioning it as a way to bolster the economy and reduce the national debt.

Speaking from the Oval Office on Wednesday, Trump detailed his vision for the "Gold Card," a program set to replace the EB-5 visa, which currently provides a path to citizenship for wealthy investors.

"These companies can go and buy a gold card and they can use it as a matter of recruitment," Trump said, noting that international students might have job offers rescinded from them over concerns of their immigration status.

Under the plan, U.S. companies could purchase gold cards for international students and workers, allowing them to stay and work legally.

Trump claimed that if just one million cards were sold, the program could generate $5 trillion, and selling 10 million could wipe out the $35 trillion national deficit.

While Trump praised the initiative as a game-changer for recruitment and economic growth, critics have raised concerns about the ethical and legal implications of selling residency.