Document Type

Article

Publication Date

10-2025

Abstract

The Trump administration recently announced two new ventures into industrial policy. First, it will impose a levy on chip exports to China by Nvidia and Advanced Micro Devices (AMD). Under the agreement, Nvidia and AMD will pay the government 15 percent of their gross revenue from sales to China. The secretary of the Treasury has said the administration will consider expanding this type of deal to other industries. Second, the administration announced that it will take a 9.9 percent equity stake in Intel

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Reprinted with the permission of Tax Analysts.

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