Trump said Monday that he has cut a deal with chipmaker Nvidia, allowing it to sell certain artificial intelligence chips to China in exchange for a cut of the revenue, which would go to the U.S. government. Trump said he also negotiated a similar deal with chipmaker Advanced Micro Devices (AMD).

The Trump administration is turning export controls into a corporate tax. Stockholders should hope companies can afford it.

President Trump’s reversal on previously blocked chip sales to China has sparked cries that the White House is selling out America’s security concerns in a bid to raise revenue. Trump on Monday agreed to allow tech giants Nvidia and AMD to secure export licenses to sell their advanced artificial intelligence (AI) chips in China