US president does not address extending truce in tariff war with China, set to end at midnight, just that negotiations are going ‘nicely’
US President Donald Trump said on Monday that he had personally negotiated a deal with Nvidia chief executive Jensen Huang, letting the tech company sell a lower-end chip in China in exchange for part of those sales revenues being paid to the US government.
The highly unusual deal was first reported on Sunday by the Financial Times.
The arrangement comes amid Washington’s years-long push to restrict Beijing’s access to cutting-edge semiconductors, a policy rooted in concerns that advanced AI processors could bolster China’s military capabilities.
Since 2022, Washington has imposed export controls on such chips, hitting US chipmakers hard — particularly Nvidia, the dominant player in the industry.
