Treasury Secretary Scott Bessent has leaned into this new export revenue-sharing deal, saying it could serve as a blueprint for other industries. In a TV interview with Bloomberg Surveillance, Bessent praised Trump’s “unique solution.”
The historic agreement essentially allows Nvidia to export its H20 accelerator chips and AMD its MI308 processors—designed specifically for compliance with U.S. export controls—to Chinese buyers who are hungry for advanced AI technology. Semiconductor chips, on the one hand, and rare earth materials, on the other, have been America’s and China’s respective leverage points as the countries seek a new trade understanding. Bessent claimed in the interview the revenue collected from the chip sales would go directly to paying down the national debt, and hinted at the possibility of channeling additional funds to taxpayers if the program proves successful.
The arrangement itself is unusual. It is not a tax in the traditional legislative sense, but rather a condition attached to the export license—a point that has sparked controversy among legal experts.
