The US has reached an agreement with Nvidia and Advanced Micro Devices Inc. (AMD) that will see the chipmakers pay 15 per cent of revenue from certain AI chip sales in China to the US Treasury in exchange for export licences, Bloomberg reported.

The deal enables the companies to sell modified versions of their high-end processors — including Nvidia’s H20 and AMD’s MI308 — in the Chinese market. The arrangement gives them renewed access to one of the world’s largest buyers of semiconductors, while providing the government with a direct financial return from sales subject to export restrictions.

The move reflects Donald Trump’s approach to trade policy, in which market access and regulatory concessions are linked to direct payments or investment commitments to the US. During his previous administration, Trump frequently used tariffs and other trade barriers to negotiate financial or industrial benefits.

The agreement has drawn scrutiny from legal and trade analysts, who question whether the revenue levy could amount to an unconstitutional export tax. It also underscores the increasingly complex position of US technology groups as they attempt to maintain a foothold in China while navigating intensifying geopolitical rivalry between Washington and Beijing.