Trump Turns Export Rules Into a Toll Road: 15% Cut to Sell AI Chips to China

Nvidia and AMD get limited China access back — if they hand 15% of those sales to the U.S. Treasury. Markets cheer. Lawyers reach for the Constitution. Beijing keeps options open. August 13, 2025

Donald Trump just put a price tag on national security. Nvidia and AMD get their China sales back — if they hand 15% of the money to the U.S. Treasury. Wall Street cheered. Lawyers looked for case law. Beijing didn’t slam the door.

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What just happened

Over Aug. 11–12, 2025, the White House green‑lit exports of Nvidia’s H20 and AMD’s MI308 — models restricted under earlier national‑security rules. The catch: a government‑mandated 15% revenue skim. Trump called H20 “obsolete” and floated selling a dialed‑down Blackwell later.

Why it’s raising eyebrows

Tax without the name. The Constitution doesn’t love export taxes without Congress on board. A “revenue share” tied to the sale price looks a lot like one.
No clear lane in statute. The Export Control Reform Act lets presidents block or clear exports. It doesn’t give them a cut of the sale.
Power balance issue. Congress writes trade law. Courts have slapped down similar power‑grabs before.

Security vs. business math

Weakened ≠ useless. Enough “safe” chips clustered together still deliver serious AI compute.
China hedging bets. Officials talk up local chips but still want Nvidia when performance matters.
Markets liked certainty. Nvidia and AMD shares ticked up on restored revenue visibility.

Why it matters beyond chips

If this works here, why not aerospace, biotech, energy tech? The model is simple: pay the toll, pass the gate. That’s a shift from rules‑based trade to deal‑based access.

What’s next

Court challenges. Shareholders or rivals could argue it’s an unconstitutional export duty or exceeds statutory authority.
Blackwell “lite.” If a throttled Blackwell variant appears, expect the same legal and security fight.
China’s shopping list. If Beijing cools on H20, that 15% skim shrinks fast.

Bottom line: This isn’t a tweak. It’s pay‑to‑play. Quick money for U.S. firms and the Treasury; long‑term legal risk and a faster push for China to replace U.S. tech.

Sources

Disclaimer: This article is for informational purposes only and is not legal advice. It reflects public reporting and applicable frameworks as of August 13, 2025 (Europe/Amsterdam).

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