In the coming days, the Trump administration will take steps to delay and ultimately rescind an Obama administration rule allowing foreign entrepreneurs to come to the U.S. to start companies, sources familiar with the situation tell Axios.
The details: The rule, called the International Entrepreneur Rule, is scheduled to go into effect July 17. U.S. Citizen and Immigration Services will take a procedural step to postpone that implementation date as soon as Monday, according to sources. In addition, the agency is expected to start the formal process to eliminate the rule. A USCIS spokesperson said the rule is "under review." More details on the rule here.
Why it matters: Since the rule hasn't yet taken effect, scrapping it won't change anyone's visa status. Still, it's a setback for tech and venture capital firms that supported the rule — and it's another sign of Trump's resolve to restrict visas, even for high-skilled immigrants.