Trump to end 'EB-5' immigrant investor visa program

US President Donald Trump will end the United States' immigrant investor visa program known as the "EB-5 Program," Commerce Secretary Howard Lutnick said on Tuesday.

Trump said he will replace the "EB-5" immigrant investor visa program, which allows foreign investors of large sums of money that create or preserve US jobs to become permanent residents, with a so-called "gold card" that could be bought for $5 million as a route to citizenship.

The "EB-5" program granted "green cards" to foreigners promising to invest in US businesses.

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