Washington DC [US], February 27 (ANI): US President Donald Trump during his first Cabinet meeting on Wednesday said that he hoped the newly-announced Gold Cards would 'sell like crazy.'

'Maybe it will sell like crazy. I happen to think it's going to sell like crazy. It's a bargain,' he said.

When he was asked about the Gold Card plan, Trump jokingly remarked, 'I hope you liked it.'

Trump said that the immigration system has not been properly monetised or run. He also lamented the plight of companies who want to hire non-American students but do not go forward with it as uncertainty looms over their immigration status.

'Well not so much monetised. It hasn't been properly run. I get calls from example companies where they want to hire the number one student at a school. A person comes from India, China, Japan -- lots of different places and they go to Harvard, the Wharton School of Finance, they go to Yale they go to all great schools and they graduate number one in their class and they made job offers, but the offers immediately rescinded because you have no idea whether or not that person can stay in the country,' he said.

To tackle this issue, he came up with the Gold Card system. Trump said that a company can buy a Gold Card and use it for this recruitment matter.

'I want to be able to have that person stay in the country, these companies can go and buy a Gold Card and they can use it as a matter of recruitment. At the same time, the company is using that money to pay down debt we're going to we're going to pay down a lot of debt with that and I think the gold card is going to be used by not only for that. I mean, they'll be used by companies,' he said.

Trump further added that if a business is in the US, they do not have to pay any tariffs, and those operating outside would have to pay those.

'If you're in the country, there is no tariff. If you're out of the country you got to pay tariffs and that's going to be a great investment I think that he's making I know it's going to be a great investment but we have to be able to get people in the country,' he said.

Trump said that he wanted 'productive' people in the US, and those USD 5 million would create jobs and pay off the US debt.

'We want people that are productive people and I will tell you the people that can pay USD 5 million they're going to create jobs. They're going to spend a lot of money on jobs. They're going to have to pay taxes on that too so they're going to be hiring people, they're going to be bringing people in and companies in,' he said.

As per the US Treasury fiscal data, the federal government of the US currently has USD 36.22 trillion in federal debt. (ANI)