Donald Trump's recent economic decisions have turned the US into a "banana republic" according to notable critics of the administration.
The introduction of the Trump Gold Card, an investor visa which would grant a residency permit to any individual who donates $1million to the government, has been roundly criticized by members of the public. A donation to the Department of Commerce of $1million is required for individuals while a $2million donation is required for a corporation or a donation made on behalf of another person.
Commerce Secretary Howard Lutnick had claimed in June that there was a waiting list of over 70,000 people. The White House has since made the Trump Gold Card official, announcing the scheme Wednesday. A post to X from the White House account reads, "THE TRUMP GOLD CARD. Unlock life in America."
The X account Republicans Against Trump wrote, "The United States under Trump is officially a banana republic. Great job, everyone." USA Polling also weighed in on the card, adding, "It's all so cringe."
Political commentator Ron Filipkowski also aired his concerns on the Trump Gold Card. He wrote, "Everything in the US is for sale to the wealthy all over the planet, whether friend or foe. Citizenship, work visas, security guarantees, key industries, advanced military capabilities, AI and sensitive tech. For the right price, anyone can have whatever they want from us."
A description of the Trump Gold Card on the official application website reads, "For a $15,000 DHS processing fee and, after background approval, a contribution of $1million, receive U.S. residency in record time with the Trump Gold Card."
A "tax exemption" card named Trump Platinum Card is also available on the official website for Gold Card applications. The Platinum Card is listed as "coming soon".
The Trump Platinum Card description reads, "Foreign nationals can sign up now and secure their places on the waiting list for the Trump Platinum Card. When launched, and upon receipt of a $15,000 DHS processing fee and $5 million contribution, they will have the ability to spend up to 270 days in the United States without being subject to U.S. taxes on non-U.S. income."
Application times have been cited as taking just "weeks" according to the trumpcard.gov website. It reads, "Once an applicant’s processing fee and application are received, the process should take weeks. The applicant will need to attend a visa interview and submit any additional documents in a timely manner."