Trump Unveils $5 Million Gold Card Visa Initiative

President Donald Trump has introduced a new $5 million 'Gold Card' visa aimed at attracting wealthy foreign investors by offering U.S. residency and a potential path to citizenship. This visa is set to replace the EB-5 program, which required a $1 million investment and job creation. While Trump claimed he was the first buyer, Commerce Secretary Howard Lutnick mentioned that 1,000 cards had already been sold, raising $5 billion. The administration touts the initiative as a means to generate substantial economic growth and reduce national debt, with hopes to sell up to one million cards to raise $5 trillion. Critics have questioned the timing of the announcement, which coincided with new tariffs that caused a significant downturn in global markets. The Gold Card is expected to be available within two weeks.