President Donald Trump originally wanted Nvidia to give the US government a 20 percent cut from Chinese sales of its H20 chips but lowered the figure to 15 percent after meeting with Nvidia CEO Jensen Huang.

“I said, ‘Listen, I want 20 percent if I’m going to approve this for you,’” Trump recounted during a press conference on August 11.

The President went on to describe the H20 chips as “obsolete” and an “old chip that China already has,” claiming it was “similar” to one being offered by Huawei.

First announced in 2023, Nvidia’s H20 GPUs are a less sophisticated version of its H100 processors and were designed specifically for the Chinese market in compliance with US export controls.

In July 2025, the Trump administration had agreed to start granting export licenses, reversing a decision made by the government in April to impose additional restrictions on exports of H20 chips to China. However, it was revealed this week that Nvidia – and AMD, which had also seen sales of its MI380 chip to China impacted by the initial ban – had agreed to pay the US government 15 percent of the revenue generated from the sale of chips as a condition for obtaining export licenses for the semiconductors.

This is the first time companies have agreed to such an arrangement with the US government in order to obtain export licenses for goods.

Also during the press conference, Trump said that he expects to meet with Huang again to negotiate export licenses for Blackwell chips.

“The Blackwell is super-duper advanced. I wouldn’t make a deal with that,” Trump said. “That’s the latest and the greatest in the world. Nobody has it. They won’t have it for five years.”

He then went on to say that an agreement for exporting Blackwell chips could be possible if Nvidia “somewhat enhanced [Blackwell] in a negative way.”