U.S. President Donald Trump ratchet up tariffs on Chinese imports to a prohibitive level of 145%, spurring a round of stimulus measures from Beijing.

China’s economy slowed in the second quarter even as it topped market forecast in a show of resilience against U.S. tariffs, and analysts warn of underlying weakness and rising risks that will ramp up pressure on Beijing to roll out more stimulus.

Nvidia has profited enormously from rapid adoption of AI, becoming the first company to have its market value surpass $4 trillion last week.

The Silicon Valley chip giant said the Trump administration, which had shut down its sales to China three months ago, had assured it that licenses for the sales would now be granted.