Bessent says that the unusual agreement of Nvidia, AMD on income could be a “model” for other industries

Treasury secretary Scott Bessent looked at this new export income sharing agreement, saying that he could serve as a plan for other industries. In a television interview with Bloomberg surveillance, Bessent congratulated Trump’s “unique solution”.

“I think we could see it in other industries over time,” said Bessent. “Right now, it’s unique, but now that we have the beta model and test, why not develop it?”

The historical agreement essentially allows Nvidia to export its H20 accelerator chips and its MI308 processors – designed specifically for compliance with American export controls – to Chinese buyers who are hungry for advanced technology. Semiconductors’ chips, on the one hand, and rare earth materials, on the other hand, were the respective lever points in America and China while countries are looking for a new commercial understanding. Bessent said in the interview that the income collected on flea sales would be directly to the reduction of national debt and have referred to the possibility of channeling additional funds to taxpayers if the program is successful.

Very debated deal

The agreement itself, however, raised a considerable debate. For years, Washington’s approach for export controls has been focused on pure prohibitions and the restriction of certain double -use or national security goods. The Trump administration had previously interrupted all the sales of advanced fleas to China, citing the risks of helping military and Chinese AI efforts. But the new model seeks to find common ground: it allows sales while capturing us the value and providing a lever effect in the current negotiations with Beijing.

Bessent, a former Hell Fund officials and George Soros protected who has become one of the closest allies to Trump Wall Street, has long pleaded for a strategic approach and focused on American trade results. His idea is that American companies can continue to compete globally without giving up leverage or security.

The arrangement itself is unusual. It is not a tax in the traditional legislative sense, but rather a condition attached to the export license – a point that aroused controversy among legal experts.

“It is weird in many ways and quite disturbing since the congress had nothing to say on this subject,” said Gary Hufbauer of the Peterson Institute for International Economics The hill. He noted that direct income for the sharing of income negotiated by the president and sole proprietorship are unprecedented in the history of American trade.

For this story, Fortune Used a generative AI to help an initial project. An editor checked the accuracy of the information before the publication.