Trump Lets Nvidia Sell More Chips to China

Nvidia shares surged after President Trump approved the sale of its high-performance H200 chips to China. This decision, viewed as a potential easing of export controls, is expected to significantly boost Nvidia's sales, especially given its previous struggles in the Chinese market due to stringent regulations. Peter Landers, the WSJ Asia Business Editor, highlighted that this market is crucial for Nvidia, which once derived about 20% of its sales from China. The arrangement includes a 25% cut of sales to the U.S., raising legal questions about the constitutionality of taxing exports, yet Nvidia seems willing to accept this unusual deal.

China has achieved a major trade milestone, reporting a $1 trillion trade surplus despite U.S. tariffs intended to curb its exports. This impressive surplus signifies that China is selling far more than it is buying globally, a situation that has raised alarms, particularly among European leaders worried about their own industries. Analysts, including WSJ’s Jonathan Cheng and Tom Fairless, discussed how countries like France and Germany are contemplating imposing tariffs on Chinese goods in response to the growing competition and potential threats to their economies.

Jamie Diamond, CEO of JP Morgan, announced a $1.5 trillion initiative aimed at enhancing American self-sufficiency in critical industries, including AI and rare earths. The initiative seeks to preemptively address potential threats from foreign adversaries and will involve a high-profile advisory council including notable figures like Jeff Bezos and Condoleezza Rice. This response highlights the increasing focus on bolstering critical American supply chains in the face of international competition.

The mayoral race in Miami is gaining national attention as it touches on issues concerning President Trump's policies. Candidates Eileen Higgins and Emilio Gonzalez are highlighting local issues while also responding to Trump’s immigration and economic policies that resonate with Miami’s immigrant population. Recent polling indicates a more critical view of Trump’s policies among Miami voters, making this election a potential harbinger for future political dynamics as Democrats aim to reclaim the mayoral seat after a long Republican hold.