- Trump unveils a $5M gold card offering residency benefits to wealthy investors.
- The card is an upgrade to the EB-5 visa, granting tax exemptions on overseas income.
- Critics warn Trump’s tariffs may harm the economy, despite his claims of future growth.
President Donald Trump revealed the new $5 million “gold card” while speaking to reporters aboard Air Force One. He proudly displayed the card and called it the “Trump card.” The gold-colored card features Trump’s mugshot from his reelection campaign.
Trump introduced the card in February, describing it as an upgraded version of the green card for wealthy individuals. The program replaces the EB-5 visa, allowing rich migrants to obtain U.S. residency easily. Cardholders will receive special benefits, including exemptions from taxes on overseas income.
Trump said the first gold card was already sold. “For $5 million, this could be yours,” he told reporters and added that the card would be available within two weeks. However, when questioned on who would be the second buyer, Trump admitted that he was unaware of the answer.
The announcement came as U.S. financial markets faced turmoil. The S&P 500 suffered its largest single-day drop in five years. Many investors blamed Trump’s tariffs on imported goods. The president downplayed concerns and insisted his policies would strengthen the economy.
Trump believes the gold card will attract wealthy investors, stating that buyers will bring money, create jobs, and boost the economy. He further emphasized that cardholders will contribute to tax revenue and business growth.
Critics argue that Trump’s trade policies are risky. Many experts say his tariffs threaten global trade agreements. Economists warn that these measures could harm businesses and consumers, while some fear a potential economic downturn.
Related: Trump’s Tax Cuts and Tariffs: What’s Next for the Economy?
Trump dismissed concerns and compared the economy to a sick patient. He claimed his policies were necessary for recovery. “We inherited a terrible economy,” he said. He insisted that his administration’s actions would lead to a strong financial future.
The gold card’s impact remains uncertain. More than 1,000 cards reportedly sold within a day. Supporters see it as a bold economic strategy, while others speculate whether it would boost the economy or create more challenges.
