The h1b program can essentially be eliminated tomorrow. Trump could theoretically make h1b visas non-transferable, charge a high annual renewal, etc.

Trump could cancel H1B but most likely he won't. If for no other reason than as a favour to his billionaire friends. They are more important than the popular idea of America first, American jobs etc. here Trump literally says we need H1B because we need talent, and USA doesn't have the talent. Not a good look for a supposedly America first president.. https://youtu.be/U2XUNKcKtx0?si=GOFyMGxqUIbyGD6T