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.

The US government will use its 15% sales tax on NVIDIA and AMD chips sold to China to pay down US debt, in a new strategic move from the Trump admin.