Trump Administration Will Use NVIDIA’s 15% China H20 GPU Sales Tax To Pay Down Debt, Says Treasury Secretary ...Middle East

Treasury Secretary Scott Bessent outlined in an interview with Bloomberg earlier today that the Trump administration aims to pay down the US debt through the revenue that it will generate from its commission on NVIDIA and AMD's AI chip sales to China. NVIDIA and AMD will pay a 15% fee to the US government over their China AI GPU sales, with NVIDIA's H20 confirmed to be the firm's only product covered by the new requirement. In his interview, Bessent outlined that the idea to introduce the fee was the President's idea and added that it could expand to other industries […]

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