Trump charges U.S. chipmakers for China export access

U.S. semiconductor makers Nvidia and AMD have agreed to pay the U.S. government 15 percent of their sales to China in exchange for permission to resume exports of lower-spec chips to the country. The export toll is expected to total at least $2 billion. While the resumption of H20 shipments will benefit South Korean suppliers such as SK Hynix and Samsung Electronics, which provide the high-bandwidth memory (HBM) used in the chips, analysts warn it could also pressure them to lower supply prices.

● NYT says U.S. to earn at least $2 billion

According to the Financial Times on Aug. 11 local time, Nvidia will resume exports of its H20 chips and AMD its MI308 chips to China under the agreement, with each company paying 15 percent of sales for those products to the U.S. government. The FT reported that it is unprecedented for a U.S. company to give part of its revenue to the government in order to secure an export license.

Foreign media estimate that the U.S. government could collect at least $2 billion from Nvidia and AMD through the measure. The New York Times projected Nvidia’s H20 sales this year at $15 billion, while the Financial Times forecast $23 billion. Applying the 15 percent rate, Washington would receive between $2.25 billion and $3.45 billion from Nvidia alone.

In April, Washington placed the H20 and MI308 on its export control list for China, citing concerns that advanced U.S. chips could aid the development of China’s artificial intelligence industry amid escalating trade tensions. Nvidia has repeatedly urged the U.S. government to allow sales of lower-spec chips to China. Chief Executive Jensen Huang reportedly met President Donald Trump last month and again on Aug. 6 to press the request. On Aug. 8, the Commerce Department granted permission for the exports.

● Export licenses used when profitable

Experts say the resumed exports of AI chips to China will provide a short-term boost for Samsung Electronics and SK Hynix, which supply high-performance memory to both U.S. companies. Orders for the H20 from Chinese cloud and data center companies are expected to drive up demand for HBM and DRAM.

Lee Jong-hwan, a professor of system semiconductor engineering at Sangmyung University, said, “Since Korean companies are the main producers of the high-performance memory used in the H20, resuming exports to China will be advantageous as it increases volume,” adding, “However, given that Nvidia and AMD must pay 15 percent of their sales in taxes, they could pass the burden on to their Korean partners.”

Some analysts view the deal as a reaffirmation of President Trump’s characteristic negotiating style and say South Korean companies facing U.S. investment pressure should prepare to respond flexibly. It is highly unusual for a government to grant export licenses to its own companies in exchange for payment. There is also no indication that the original concern over technology leakage, which prompted the export ban, has been resolved. This has fueled speculation that the export restrictions were used as a bargaining chip in Trump-style negotiations.

Liza Tobin, who served as China director at the White House National Security Council during Trump’s first term, said, “China will be pleased that the U.S. government profited from issuing the export license,” adding, “Now can Lockheed Martin sell fighter jets to China and pay a 15 percent fee?”

Kim Heung-jong, a special professor at Korea University’s Graduate School of International Studies and former head of the Korea Institute for International Economic Policy, said, “This is not the first example of Trump-style pressure, and to maintain a foothold in the U.S. market, expanding local production is inevitable,” adding, “Realigning global production facilities in response to tariffs and market changes is an unavoidable long-term trend.”


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