AsianFin -- JPMorgan Chase CEO Jamie Dimon criticized President Donald Trump’s proposal to charge $100,000 for visa applications for skilled foreign workers, calling instead for merit-based immigration policies.

Speaking in an interview with CNBC in Mumbai, India, Dimon said the executive order, signed late Friday, would likely draw pushback from U.S. employers who depend on the H-1B visa program.

“I would beg the president,” Dimon said. “He has accomplished border control, that’s great… but after that, we should have good immigration.”

Dimon emphasized that companies hire foreign talent through programs like H-1B because they need specific expertise that is often not available domestically. “Employers use H-1Bs because they need the expertise,” he said, highlighting the critical role skilled immigrants play in the U.S. economy.