After meeting with Trump, Nvidia CEO says the sale of AI chip is back on in China
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Nvidia's CEO Jensen Huang says the technology giant has won approval from the Trump administration to sell its advanced H20 computer chips used to develop artificial intelligence to China.The news came in a company blog post late Monday and Huang also spoke about the coup on China's state-run CGTN television network in remarks shown on X."The U.S. government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon," the post said."Today, I'm announcing that the U.S. government has approved for us filing licenses to start shipping H20s," Huang told reporters in Beijing. He noted that half of the world's AI researchers are in China."It's so innovative and dynamic here in China that it's really important that American companies are able to compete and serve the market here in China," he said.Huang recently met with Trump and other U.S. policymakers and this week is in Beijing to attend a supply chain conference and speak with Chinese officials.The broadcast showed Huang meeting with Ren Hongbin, the head of the China Council for Promotion of International Trade, host of the China International Supply Chain Expo, which Huang was attending. Nvidia is an exhibitor.Nvidia has profited enormously from rapid adoption of AI, becoming the first company to have its market value surpass $4 trillion last week. However, the trade rivalry between the U.S. and China has been weighing heavily on the industry.Washington has been tightening controls on exports of advanced technology to China for years, citing concerns that know-how meant for civilian use could be deployed for military purposes. The emergence of China's DeepSeek AI chatbot in January renewed concerns over how China might use the advanced chips to help develop its own AI capabilities.In January, before Trump began his second term in office, the administration of President Joe Biden launched a new framework for exporting advanced computer chips used to develop artificial intelligence, an attempt to balance national security concerns about the technology with the economic interests of producers and other countries.The White House announced in April that it would restrict sales of Nvidia's H20 chips and AMD's MI308 chips to China.Nvidia had said the tighter export controls would cost the company an extra $5.5 billion, and Huang and other technology leaders have been lobbying President Donald Trump to reverse the restrictions. They argue that such limits hinder U.S. competition in a leading edge sector in one of the world's largest markets for technology.They've also warned that U.S. export controls could end up pushing other countries toward China's AI technology.Nvidia's U.S. traded shares jumped nearly 5% before the opening bell.
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On Sunday, Commerce Secretary Howard Lutnick expressed optimism about reaching an agreement with the EU. 'I am confident we'll get a deal done," Lutnick said on CBS's 'Face the Nation." 'And it will be great for America, because the president has the back of America." In the months since Trump took office, EU trade chief Maroš Šefčovič has flown to Washington half a dozen times. He has had multiple calls and texts with U.S. trade officials. And he has said Europe was willing to lower tariffs and buy tens of billions of dollars of U.S. energy products and advanced semiconductors. The bloc has little to show for his efforts. Earlier this month Trump threatened 30% tariffs on imports of most goods from the EU, up from the 20% the president first floated in April. Even German officials, who have pressed for a quick deal, no longer see an agreement with the U.S. as the most likely outcome, people familiar with the matter said. On Friday, Berlin signaled it could support the EU using its so-called anticoercion instrument, a legal tool that lets the bloc hit back at economic bullying with a range of restrictions on trade and investment. It has never been used before. EU officials view the tool as the bloc's most powerful trade weapon, and a last resort. European Commission President Ursula von der Leyen, who leads the EU's executive arm, said earlier this month that the instrument was created for emergencies 'and we are not there yet." That assessment could change. The commission is already preparing measures that could be introduced using the anticoercion instrument, people briefed on the matter said. After Šefčovič's return from Washington, more member states now say they want the tool to be ready. European Union trade chief Maroš Šefčovič has said that Europe was willing to reduce tariffs. The measures that are being readied include possible levies or other restrictions on U.S. digital services and curbs on American companies' access to the bloc's public procurement market, the people said. That would be in addition to measures the EU has already prepared. The EU earlier drew up two packages of tariffs targeting more than $100 billion of U.S. exports to the bloc, ranging from airplanes to peanut butter and whiskey, although they haven't been put into effect. The second package still needs formal signoff from member states, but both could be activated quickly if needed, officials have said. European officials and member states still hope a deal is possible. The bloc doesn't plan to launch any retaliation before Trump's Aug. 1 deadline, and the preparation of measures that could be introduced using the anticoercion instrument doesn't necessarily mean the tool will be deployed. But they are gearing up for a possible fight that they acknowledge could have heavy costs for both sides in a commercial relationship that is valued at trillions of dollars. The deal the two sides were nearing earlier this month would have seen the EU offer to boost purchases of U.S. energy products and semiconductors and accept a 10% baseline tariff on most goods. Some elements were still being negotiated, people familiar with the talks said. Those factors included which sectors to exempt from the baseline tariff and what relief Europe's car industry might get from the 25% tariffs it currently faces. Still, the commission was optimistic. While other U.S. trading partners had received letters outlining higher tariffs they would soon face, Šefčovič told lawmakers on July 9, 'our negotiations have spared the EU from facing higher tariffs." Three days later, Trump posted a letter on social media threatening the bloc with 30% duties starting Aug. 1. 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They finally snapped after finding out about U.S. officials' pressure this past week for the EU to accept higher baseline tariffs and no relief for its auto sector. The shift persuaded Berlin to open the door to retaliation, an official with knowledge of the situation said. Member states now need to determine how many more concessions they might be willing to make to get a deal, and which countermeasures to take if negotiations fail, an EU diplomat said Friday. 'All options will hurt," the diplomat said. Write to Kim Mackrael at and Bertrand Benoit at
