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Under both the first Trump and Biden administrations, Washington argued that it needed to limit China’s technological development by barring more and more sensitive products from being exported to its strategic rival. Now, Trump’s decision to allow Nvidia and AMD to sell their advanced AI chips to China in exchange for a 15% cut of their revenue turns the export control regime into something like a bargaining chip.
The Trump administration is already positioning the deal as a playbook for other products and industries. “Now that we have the model and the beta test, why not expand it?” U.S. Treasury Secretary Scott Bessent said on Bloomberg TV on Wednesday.