CEO Jensen Huang that he hoped companies, including Nvidia, would provide high-quality and reliable products and services to customers in China, Reuters reported, citing a statement from the ministry.

Commerce Secretary Howard Lutnick explained the Trump administration's turnabout in assuring Nvidia that it [can sell its H20 artificial-intelligence chip](

U.S. Commerce Secretary said Nvidia's plans to start selling its H20 chips are tied to ongoing trade discussions with China regarding REEs.

China wants to bring its trade ties with the U.S. back to a stable footing, its commerce minister said, adding that recent talks in Europe showed there was no need for a tariff war while urging the U.

Separately, stock in Dutch chip company ASML was falling sharply Wednesday after the company cut its outlook, blaming trade wars and tariffs for lower demand.

Nvidia Corp.’s Jensen Huang spent months telling everyone what a grave mistake the US was making restricting shipments of artificial intelligence processors to China — with little sign that his argument was swaying anyone.