US Dollar Retreats Amid US-Iran Ceasefire Developm
The US dollar is set to decline this week as positive news on US-Iran ceasefire eases safe-haven dem
A group of US lawmakers has called on President Donald Trump to reconsider his proclamation imposing restrictions and a USD 100,000 fee on new H-1B visa petitions. Led by Representative Jimmy Panetta, along with Ami Bera, Salud Carbajal, and Julie Johnson, the lawmakers emphasized that Indian nationals are vital to America’s leadership in IT and artificial intelligence.
In a letter addressed to the President, the lawmakers expressed concern over the "Restriction on Entry of Certain Nonimmigrant Workers" proclamation issued on September 19. They urged Trump to suspend the order, citing its negative implications for US-India relations and the Indian-American community.
The group stressed that the H-1B visa programme serves as a cornerstone of US global competitiveness, especially in STEM fields. They pointed out that 71 per cent of H-1B holders last year were Indian nationals, who significantly contribute to US technological innovation, patent output, and business formation.
Highlighting China’s aggressive investments in AI and advanced technology, the lawmakers noted the importance of attracting top global talent to maintain the US innovation ecosystem and national security.
The letter also underscored the role of H-1B professionals in supporting American jobs and founding major tech companies, arguing that restricting access would weaken economic growth and US leadership in emerging industries.
The lawmakers concluded by urging the administration to expand, rather than restrict, the H-1B programme to secure America's role in shaping 21st-century global power dynamics.
The US dollar is set to decline this week as positive news on US-Iran ceasefire eases safe-haven dem
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