Olivia
January 22, Washington: Trump said that he supported H1-B visas for “competent” people not only in the tech industry but also for other jobs such as “high-quality waiters”
US President Donald Trump, during a press conference at the White House on Tuesday, said that he likes both sides of the debate on the H-1B foreign guest workers’ visa, stating that he welcomed “competent people” coming into the country.
“I like both sides of the argument, but I also like very competent people coming into our country, even if that involves them training and helping other people who may not have the qualifications they do. I don’t want to stop…,” he stated during the event along with Oracle CTO Larry Ellison, Softbank CEO Masayoshi Son, and Open AI CEO Sam Altman.
Dollar Drop
The US dollar, which had initially fallen in the hours after Trump took office, reversed course after the comments to hit five-year highs against the Canadian dollar, and rose by 1% against the Mexican peso.
But stock markets, which rallied in the aftermath of Trump’s election victory in November, were largely calm in reaction to his return to the White House. US markets were closed for Martin Luther King Day on Monday, so Asian markets were the first to respond. Japan’s Nikkei index swung between losses and gains and ended the day 0.3% higher.
Other Asian markets also made modest gains, with Hong Kong’s Hang Seng climbing by nearly 1% and China’s Shenzhen market rising by 0.5%, while the Shanghai and South Korean exchanges were slightly in the red and the Indian market lost nearly 0.6%.
In Europe, the UK’s FTSE 100 index edged just four points higher to 8,524 by mid-morning. Germany’s Dax and Italy’s FTSE MIB slipped slightly, while France’s CAC rose by 0.25%. The pound and the euro lost about 0.6% against the dollar. Sterling had risen by 1.3% on Monday, its biggest daily jump since November 2023.
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Kathy
Stacy
