Treasury Secretary Scott Bessent said the recent deal to allow Nvidia Corp. and Advanced Micro Devices Inc. to resume lower-end AI chip sales to China, on the condition they give the US government a 15% cut of the related revenue,

Speaking on Bloomberg Television, Treasury Secretary said President Donald Trump was the designer of the agreement that Nvidia will pay 15% to the U.S. Treasury for its sales of microchips to China. "We could see it in other industries over time,