Trump Bars Blackwell Exports to China

President Trump told CBS and reporters aboard Air Force One that Nvidia’s most advanced Blackwell AI chips “will not let anybody have them other than the United States,” and he said he would let Nvidia “deal with” sales of less-capable chips. Nvidia CEO Jensen Huang lobbied for permission to export Blackwell chips to China, but top U.S. officials urged caution and Trump declined to greenlight such sales during his meeting with Xi in Busan. Nvidia has committed large volumes of Blackwell GPUs to allies including South Korea, and markets moved modestly on the comments. Nobel laureate Paul Krugman criticized Trump’s broader trade moves — including tariff rollbacks and dismantling of Biden-era industrial subsidies — as eroding U.S. economic leverage and global influence. Analysts and industry leaders warned that strict chip export controls may preserve short-term technological advantages but, combined with subsidy rollbacks and persistent power and data-center limits, could weaken long-term U.S. industrial position.