Jensen Huang quits, China trade surplus hits US$1 trillion, Xi-Trump summit

China has cautioned the United States against imposing additional export controls on semiconductors following a controversy involving AI chip manufacturer Nvidia. The country's Foreign Ministry spokeswoman, Mao Ning, emphasized China's stance against the misuse of export control measures, which she said disrupts global industrial and supply chain stability. She urged both nations to collaborate in maintaining the steady progression of China-US economic and trade relations.

Nvidia co-founder Jensen Huang, who recently resigned, has admitted to an affair allegedly with Alice Huang, a former senior executive at Singapore-based data centre company Megaspeed. Reports suggest that the Commerce Department under Secretary Howard Lutnick may have overlooked indications that Megaspeed was facilitating the transfer of restricted Nvidia technology to China. US media quoted US lawmakers as supporting the imposition of further export controls on chips destined for China due to the unfolding scandal.

House Speaker Mike Johnson was quoted as favoring restrictions on chip exports to China, stating, "I think there is a developing consensus in Congress that is an important position to take." However, US intelligence reportedly circulated a memo in spring, alleging that Alice Huang, who is not related to Nvidia's co-founder, was a spy for China's Ministry of State Security.

Beijing dismissed the accusations, claiming they were a "pretext for imposing a technological blockade" aimed at hindering China's advancement in artificial intelligence.

The controversy emerges ahead of an anticipated meeting between US President Donald Trump and Chinese President Xi Jinping in Shenzhen, a city in southern China, during an APEC gathering scheduled for next week.