Trump strikes “wild” deal making US firms pay 15% tax on China chip sales

As the August 12 deadline for a US-China trade deal approaches, President Trump has created confusion regarding national security priorities, particularly with a TikTok ban that remains unaddressed. In a surprising move, Trump secured a deal requiring Nvidia and AMD to pay the US government 15% of their revenue from advanced chip sales to China, raising concerns about these chips potentially enhancing China’s AI capabilities.

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