President Donald Trump's proposed $5 million "gold card" for U.S. residency would be one the most expensive in the world, according to experts.

President Donald Trump said Wednesday that he plans to start selling a "gold card" visa with a potential pathway to U.S. citizenship for $5 million, seeking to have that new initiative replace a 35-year-old visa program for investors.

President Donald Trump floated a new idea on Tuesday, sharing that the U.S. may soon sell “gold cards” to wealthy foreigners, giving them green cards for a fee of $5 million.

Trump’s rationale ranges from raising money to pay for tax cuts to bringing back manufacturing to the U.S. to leveraging concessions from trading partners, and the idea has raised concerns about a global trade war. Rates as high as 25% on goods from Mexico and Canada, for example, are slated to go into effect March 4.

Donald Trump said he planned to hit goods from China with a new 10% tariff, the latest salvo in the US president's steadily escalating trade fights. Imports from China already face taxes at the border of at least 10%,

President Donald Trump said 25% tariffs on Canada and Mexico are on track to go into place on March 4, and said he would impose an additional 10% tax on Chinese imports, moves that would deepen his fight with the largest US trading partners.