U.S. Commerce Secretary Lutnick said Washington will remove export controls on Nvidia’s H20 semiconductor once China begins supplying the United States with rare-earth magnets, a component used in electric vehicles and other advanced technologies. The secretary described the H20 as the “fourth-best” chip in Nvidia’s lineup and said President Donald Trump has authorized the change so that China can purchase the processor “in a balanced way.” The announcement signals a reciprocal arrangement—“chips for magnets”—that could ease tensions over technology restrictions while helping secure a critical raw-material supply chain. Details on implementation timing, licensing procedures and purchase volumes were not provided.