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 U.S.

Nvidia and its competitor Advanced Micro Devices Inc. (AMD) were reportedly to agree to pay part of their revenue from China to the U.S. government as part of a deal the Trump administration to secure export licenses.