(NewsNation) — President Donald Trump signed a proclamation Friday requiring a new annual $100,000 fee for H-1B visa applications, overhauling the skilled worker program that the administration says has displaced American workers.

Commerce Secretary Howard Lutnick said the fee will be $100,000 per year and added that “all big companies” are on board.

“So no longer will you put trainees on an H-1B visa,” Lutnick said on a call with reporters. “That it’s just not economic anymore. If you’re going to train people, you’re going to train Americans. ... If you have a very sophisticated engineer and you want to bring them in ... then you can pay $100,000 a year for your H-1B visa.”

Trump also ordered the Department of Labor to revise prevailing wage levels for the program to prevent employers

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