Treasury Secretary Scott Bessent said the recent deal to allow Nvidia Corp. and Advanced Micro Devices Inc. to resume lower-end AI chip sales to China, on the condition they give the U.S.

Bessent called the deal “unique,” before suggesting that it could be a lot less unique soon. Scholars have another word: unprecedented.

Nvidia and its competitor Advanced Micro Devices Inc. (AMD) were reportedly to agree to pay part of their revenue from China to the U.S. government as part of a deal the Trump administration to secure export licenses.