Trump Proposes $5 Million ‘Gold Card’ for Foreign Investors

Washington, D.C. — President Donald Trump has announced a new immigration initiative allowing foreign investors to obtain a special “gold card” for $5 million. According to Trump, the program—set to launch in approximately two weeks—aims to attract individuals willing to invest in the U.S. and create jobs. When asked about eligibility, he acknowledged that Russian oligarchs could potentially qualify.

Meanwhile, Trump has also escalated his aggressive trade policies, ordering an investigation into imposing tariffs on copper imports. The move is part of his broader effort to rebuild U.S. production of the metal, which is vital for electric vehicles, military equipment, the power grid, and various consumer goods.

The president signed an executive order directing Commerce Secretary Howard Lutnick to initiate a national security probe under Section 232 of the Trade Expansion Act of 1962. This is the same provision Trump used in his first term to enforce 25% tariffs on steel and aluminum imports.

A White House official, speaking anonymously, stated that the tariff rate would be determined by the investigation but confirmed that Trump prefers tariffs over quotas. The administration sees the measure as a direct response to China’s growing dominance in the global copper market.

Since returning to the White House last month, Trump has issued a series of sweeping tariff orders, targeting both geopolitical rivals like China and long-standing allies such as Canada and Mexico. While a new 10% tariff on all Chinese imports is already in effect, additional 25% duties on goods from Canada and Mexico are set to begin next week, with tariffs on steel, aluminum, and motor vehicles in rapid development.

The administration’s aggressive stance on trade has begun impacting consumer confidence. The Conference Board reported the steepest decline in consumer confidence in over three years, attributing it in part to concerns over rising inflation fueled by Trump’s trade policies. Stock markets also continued their downward trend, with Wall Street marking its fourth consecutive day of losses amid economic uncertainty.

However, certain industries have seen an upside. Phoenix-based Freeport-McMoran (FCX.N), the world’s largest copper producer, saw its shares jump 5% in after-hours trading. The company, which produced 1.26 billion pounds of copper in the U.S. last year, has not yet commented on Trump’s policy shift. Meanwhile, London-based Antofagasta (ANTO.L), which has been attempting to develop the $1.7 billion Twin Metals copper and nickel mine in Minnesota, also declined to comment. The project faced setbacks under former President Joe Biden’s administration due to environmental concerns.

Trump has vowed to continue easing regulations on businesses to spur economic growth, despite growing concerns over the potential impact of his trade policies on consumer prices and international relations.