Trump said on social media that he had informed China’s leader Xi Jinping about his decision and “President Xi responded positively!”
“This policy will support American Jobs, strengthen U.S. Manufacturing, and benefit American Taxpayers,” Trump said in his post.
Nvidia said in a statement that it applauded Trump’s decision, saying the choice would support domestic manufacturing and that by allowing the Commerce Department to vet commercial customers it would “strike a thoughtful balance” on economic and national security priorities.
Nvidia has a market cap of $4.5 trillion and Trump’s announcement appeared to drive the stock slightly higher in after hours trading.
