President Trump said on Wednesday that he would impose a 25% tariff on select semiconductors, including the Nvidia chips it plans to sell in China.
Why it matters: The tariffs are part of a broader deal, one in which the U.S. government will reap revenues from allowing Nvidia to sell AI processors in China.
Trump stopped short of imposing tariffs on most other foreign chips, though a White House fact sheet warned that the administration might decide to do so at a later date.