Billionaire entrepreneur Mark Cuban chastised several high-ranking Democrats for not celebrating the recent trade deal secured by President Donald Trump that will generate billions in revenue for the federal government.
“Hey @AOC, @BernieSanders, @SenSchumer, @SenWarren, every Dem should be thanking @potus for doing what the Dems have dreamed of doing but have NEVER been able to do, creating a sales tax on 2 of the biggest semi companies in the country!” Cuban posted on X Monday.
“This opens the door for Sales Tax for export licenses on EVERYTHING! He is going to generate corporate tax revenue that you guys only wish you could pass. You should be thanking him all day, every day for this brilliant move you guys couldn’t ever pull off! In the future, don’t call it a tax, call it a Commission for America. BOOM!” Cuban added.
Nvidia and AMD have agreed to share 15% of their revenues from chip sales to China with the U.S. government, as part of a deal to secure export licenses for the semiconductors.
The Trump administration halted the sale of advanced computer chips to China in April over national security concerns, but Nvidia and AMD revealed in July that Washington would allow them to resume sales of the H20 and MI308 chips, which are used in artificial intelligence development.
Trump confirmed the terms of the unusual arrangement in a Monday press conference.
Information from The Associated Press was used in this report.
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