Bessent called the deal “unique,” before suggesting that it could be a lot less unique soon. Scholars have another word: unprecedented.

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

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,