Beijing has reportedly moved to curb sales of Nvidia Corporation's NVDA China-specific AI chip after U.S. Commerce Secretary Howard Lutnick made remarks about export policy that Chinese officials reportedly found "insulting.

U.S. Commerce Secretary Howard Lutnick is looking into the federal government taking equity stakes in computer chip manufacturers that receive CHIPS Act funding to build factories in the country, two sources said.

Lutnick just laughed it off, indignantly pointing out that “we were just giving away the money” under the previous terms of the CHIPS Act. But the legality of any equity stake would likely be challenged by both Intel shareholders and competitors in the industry, according to the Times.

On Tuesday, the Trump administration announced it would extend the tariff delay on China. At the same time, the United States Commerce Department will introduce aluminum tariffs on over 400 different products, including wind turbines, mobile cranes, railcars, motorcycles and construction equipment.

"This is a horrible precedent. This is socialism. All of you people were freaked out about Mamdani in New York City"

Commerce Secretary Howard Lutnick expressed confidence Sunday that the Trump administration will cut trade deals with key U.S. trading partners in the coming weeks — before steep tariffs kick in for dozens of countries.

U.S. Commerce Secretary Howard Lutnick is looking into the government taking equity stakes in Intel and other chipmakers in exchange for grants under the CHIPS Act, which aims to spur factory-building in the U.

Commerce Secretary Howard Lutnick told CNBC the U.S. government wants a stake in Intel in exchange for CHIPS Act grant money promised under Biden.