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US President Donald Trump during a meeting with Lee Jae Myung, South Korea’s president, not pictured, in the Oval Office of the White House in Washington, DC, US, on Monday, Aug. 25, 2025. Al Drago | Bloomberg | Getty Images U.S. President Donald Trump on Monday stateside warned of steeper tariffs on China if exports … Read more
Under both the first Trump and Biden administrations, Washington argued that it needed to limit China’s technological development by barring more and more sensitive products from being exported to its strategic rival. Now, Trump’s decision to allow Nvidia and AMD to sell their advanced AI chips to China in exchange for a 15% cut of … Read more
Good morning. The U.S. government’s unprecedented 15% revenue-sharing agreement with Nvidia and AMD on Chinese chip sales could be coming to a company near you. U.S. Treasury Secretary Scott Bessent called it a “beta test” in a Bloomberg TV interview yesterday, adding, “we could see it in other industries over time.” This comes at a … Read more
Good morning. I called some CEOs yesterday to get their thoughts on Nvidia and AMD’s deal to give the U.S. government a 15% cut of AI chip sales to China to secure export licenses. Most were surprisingly sanguine about the unusual arrangement. Corey duBrowa, who is global CEO of communications giant Burson, described the deal … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Britain’s financial regulators are failing to push through vital reforms needed to unlock some £22bn in trade finance for small businesses, the UK branch of the International Chamber of Commerce has warned. In a letter … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Canada’s state-backed export agency has lost about £350mn on loans to Thames Water, the crisis-stricken UK utility that is teetering on the verge of renationalisation. Export Development Canada, which was established to help Canadian companies … Read more
Chinese companies Huawei and SMIC may have a difficult time accessing resources needed to build AI chips, due to Taiwanese export controls. Bloomberg reports that Taiwan’s International Trade Administration placed the two companies and their subsidiaries on an updated list of entities designated as strategic high-tech commodities. That means Taiwanese businesses will need government approval … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. China’s success in snarling global supply chains by stemming the flow of rare earths has piled pressure on Washington and made clear Beijing’s power to weaponise export controls on a wider range of critical goods, … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Beijing has agreed to fast-track approvals for rare earth export licences for some European companies after China’s strict controls on shipments of the critical minerals rocked global supply chains. European officials and industry groups have … Read more
Chinese President Xi Jinping and U.S. President Donald Trump. Dan Kitwoodnicholas Kamm | Afp | Getty Images China is calling out the U.S. for “discriminatory restrictions” in its use of export controls in the chip industry, after the Trump administration accused the world’s second-largest economy of violating a preliminary trade deal between the two countries. … Read more
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