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WSJ Minute Briefing

Companies React to Trump’s Changes to H1B Visas

WSJ Minute Briefing

The Wall Street Journal

Business News, News

4.1671 Ratings

🗓️ 22 September 2025

⏱️ 3 minutes

🧾️ Download transcript

Summary

Plus: The Trump administration and China have a preliminary deal for a U.S. TikTok app. And, the owner of Saks Fifth Avenue is in talks to sell 49% of luxury department store Bergdorf Goodman for about $1 billion dollars. Caitlin McCabe hosts. Sign up for WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:28.9

You got this.

0:34.4

Here's your morning brief for Monday, September 22nd. I'm Caitlin McCabe for the Wall Street Journal.

0:40.5

President Trump's plans to add a $100,000 feed to visas for skilled foreign workers kicked off a weekend of chaos and confusion for major U.S. companies.

0:49.9

Changes to the so-called H-1B visas particularly affect tech companies, Amazon, Google, and Tesla,

0:56.1

who are the biggest users of the visas. The workers are overwhelmingly coming from India to fill

1:01.2

software development, engineering, and other jobs. The Trump administration argues that the visa

1:06.4

changes are a boon to Americans, who it says have had their jobs replaced by foreign workers.

1:11.9

The Trump administration and China have a preliminary deal for a U.S. TikTok app.

1:17.0

Crucially, this includes retraining TikTok's algorithm so that users will be able to access the service through their current app.

1:24.1

As we reported last week, existing investors and a group of new U.S. backers would together own about 80% of the company.

1:31.5

Yesterday, President Trump said the group might even include Lachlan and Rupert Murdoch as part of a small investment through Fox Newsparent Fox Corp.

1:39.6

Lockland Murdoch is the chair of News Corp, which owns the Wall Street Journal, and is also executive

1:44.5

chair and CEO of Fox Corp. A senior White House official says President Trump is expected to approve

1:50.2

the framework via an executive order later this week. And we're exclusively reporting that the owner

1:56.0

of Sacks Fifth Avenue is in talks to sell 49% of luxury department store Bergdorf-Goodman for about

2:01.7

$1 billion. There are at least four potential bidders for the store, with a deal expected as

2:06.9

early as next year. Sacks has in recent months overhauled its capital structure in order to fund

...

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