Nvidia CEO Jensen Huang’s unexpected visit to Beijing, days after the Trump administration imposed fresh restrictions on AI chip exports, is being seen as a sharp rebuke of Washington’s current trade strategy — one that may be pushing global business further into China’s orbit.
Invited by a government-linked Chinese trade group, Huang’s trip follows the sudden US ban on Nvidia’s H20 chip, a product specifically engineered to comply with earlier American export rules. The company had anticipated continued access to the Chinese market, especially after Huang’s recent dialogue with President Trump.
Nigel Green, CEO of deVere Group, called the latest developments “a masterclass in the law of unintended consequences.”
“This is not defiance — it’s realism. Business is being done where there’s opportunity and continuity.” — Nigel Green, CEO, deVere Group
“This is a stark example of how the current US trade stance is pushing countries and companies further toward China, not away from it – financially, economically, politically and diplomatically,” Green said.
Nvidia has warned that the export block could cost it $5.5 billion in potential earnings, leaving key Chinese clients such as Alibaba, Tencent and ByteDance in limbo. However, the impact extends far beyond one company.
“By weaponizing trade controls and blindsiding key US firms, the administration is encouraging global actors to build parallel systems and deepen ties with Beijing,” Green added.
The shift is part of a broader economic realignment: rising adoption of the yuan in cross-border transactions, BRICS nations moving away from the US dollar, and countries like Brazil and Saudi Arabia increasing their Chinese currency reserves. Even close US allies are beginning to question Washington’s economic leadership.
“This is what long-term fragmentation looks like,” said Green. “It’s not ideology — it’s necessity, because America’s policy direction has become too erratic to rely on.”
Huang’s presence in China, despite the financial hit, reflects the real-world choices multinational CEOs are facing. After designing a chip tailored to US rules and receiving what appeared to be government-level reassurances, Nvidia still found itself locked out of a key market.
“That’s not strength. That’s instability,” Green emphasized. “Markets don’t respond well to sudden lurches in policy — especially in strategic sectors like AI and semiconductors.”
With global capital flows at stake, firms are hedging their bets: diversifying reserve holdings, engaging in local currency trade settlements, and building stronger ties with China — despite rising political risks.
“Jensen Huang showing up in Beijing with a smile, just after taking a multibillion-dollar hit from a White House directive, speaks volumes,” Green concluded. “The current approach might score points at rallies, but financially and diplomatically, it’s costing America influence every day.”