On this episode of Trumponomics, host Stephanie Flanders explores US President Donald Trump’s decision to impose a $100,000 fee on new H-1B visa applications, which industries will lose the most from this new expense for foreign workers and a potential long-term silver lining for India, the source of most of them. 

Bloomberg Economics analyst Michael Deng explains the cost pressures facing smaller US firms, while New Delhi–based analyst Chetna Kumar outlines the challenges for Indian IT giants, and why the policy might also push India to expand its domestic R&D and service hubs.

On this episode of Trumponomics, host Stephanie Flanders explores US President Donald Trump&rsquo;s decision to impose a <a href="bbg://news/stories/T2YSUCGP4934" data-web-url="https://www.bloomberg.com/news/articles/2025-09-22/h-1b-visas-why-trump-is-charging-a-100-000-fee-for-them" data-cke-saved-href="bbg://news/stories/T2YSUCGP4934">$100,000 fee</a> on new H-1B visa applications,&nbsp;which industries will lose the most from this new&nbsp;expense for foreign workers&nbsp;and a potential long-term silver lining for India, the source of most of them.&nbsp; Bloomberg Economics analyst Michael Deng explains the cost pressures facing smaller US firms, while New Delhi&ndash;based analyst Chetna Kumar outlines the challenges for Indian IT giants, and why the policy might also push India to expand its domestic R&amp;D and service hubs.

Tariffs, crypto, deregulation, tax cuts, protectionism, are just some of the things back on the table when Donald Trump returns to the Presidency. To help you plan for Trump's singular approach to economics, Bloomberg presents Trumponomics, a weekly podcast focused on the Trump administration's economic policies and plans. Editorial head of government and economics Stephanie Flanders will be joined each week by reporters in Washington D.C. and Wall Street to examine how Trump's policies are shaping the global economy and what on earth is going to happen next.

Tariffs, crypto, deregulation, tax cuts, protectionism, are just some of the things back on the table when Donald Trump returns to the Presidency. To help you plan for Trump's singular approach to economics, Bloomberg presents Trumponomics, a weekly podcast focused on the Trump administration's economic policies and plans. Editorial head of government and economics Stephanie Flanders will be joined each week by reporters in Washington D.C. and Wall Street to examine how Trump's policies are shaping the global economy and what on earth is going to happen next.

Who will win the trade war, and how? If the job market is so strong, why does your paycheck seem so meager? What will drive the economy of the future? Stephanomics, a podcast hosted by Bloomberg Economics head Stephanie Flanders, will take listeners on location each week to answer questions like these and bring the global economy to life.

Trumponomics

Who Loses—and Maybe Wins—From Trump’s New H-1B Fee

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