India, Sept. 20 -- US President Donald Trump announced that companies will have to pay the government $100,000 in order to secure an H-1B visa for a foreign employee.

Speaking to reporters at the White House, the US commerce secretary said that the move would ensure US companies hire more American talent while sending less valuable foreign workers back to their home countries. Given that Indians account for over 70% of H-1B visa holders, these restrictions could prove especially damaging to the Indian diaspora in America.

In a presidential proclamation, Trump declared that the new rule would apply from September 21 onwards for a period of 12 months. After the initial period, the rule will expire unless extended.

Trump alleged "systemic...