H-1B visa fee could cost US firms $14 billion annually: Report

US companies may have to pay $14 billion a year to hire skilled foreign workers after US President Donald Trump introduced a $100,000 fee for H-1B visas, which allow foreign employees to work in the country, a Financial Times report said.

The new fee was announced late Friday, led to a lot of confusion at airports on Saturday as people were rushing back to return to the US. The White House later came out with a clarification that said the $100,000 charge will only apply to new applicants starting with the next visa lottery in February.