President Trump has again postponed, by another 90 days, one of his biggest trade battles, removing for now a major worry hanging over the global economy.

特朗普总统将他最大一场贸易战的休战期再次延长了90天，暂时消除了全球经济面临的一大担忧。

But even as Trump urges China to buy more American products like soybeans, U.S. lawmakers and national security experts are concerned about what the president is willing to agree to — notably potentially giving Beijing greater access to high-end artificial intelligence process technology.

但是，在特朗普敦促中国购买更多美国产品（如大豆）的同时，美国的立法者和国家安全专家也对总统可能愿意作出的让步表示担忧——尤其是让中国获取更多与高端人工智能过程相关技术的可能性。

The latest: At the White House on Monday, Trump defended an agreement in which Nvidia and Advanced Micro Devices could resume selling some powerful semiconductors to Chinese companies. In exchange, Washington will take a 15 percent cut of sales.

最新消息：特朗普周一在白宫为与英伟达和超微半导体公司(AMD)达成的一项协议做辩护，根据该协议，这两家公司将恢复向中国公司出售部分高性能半导体产品。作为交换条件，美国政府将从公司销售额中提成15%。

Trump justified the agreement by calling the Nvidia H20 processors at the heart of it “obsolete” — but left open the possibility that Nvidia could soon sell a stripped-down version of its top-end Blackwell chips to China as well.

特朗普辩护说，协议涉及的英伟达H20处理器实际上“已经过时”，但他保留了英伟达不久可能把其高端Blackwell芯片的一个精简版出售给中国的可能性。

China hawks continued to denounce the move. “Export controls are a frontline defense in protecting our national security, and we should not set a precedent that incentivizes the government to grant licenses to sell China technology that will enhance its A.I. capabilities,” Representative John Moolenaar, Republican of Michigan and the head of a China-focused House committee, told The Financial Times.

对华鹰派人士继续谴责这种做法。“出口管制是保护我们国家安全的一道前线防御，我们不应该开创先例，奖励政府把能够增强中国人工智能能力的技术授权出售给中国，”众议院一个关注中国事务委员会的主席、来自密歇根州的共和党众议员约翰·穆勒纳尔对《金融时报》说。

Some administration officials have weighed resigning over the decision, the F.T. added, underscoring concerns about what Trump is willing to give to secure a meeting with President Xi Jinping of China and reach a trade deal.

 《金融时报》还报道说，为了表达对该决定的不满，一些政府官员已考虑辞职，这凸显了人们对特朗普为获得与中国国家主席习近平见面的机会，以及为达成贸易协议可能作出的让步感到担忧。

But China has muddied the waters when it comes to chips. Beijing has urged companies not to use the H20, particularly for sensitive purposes like government work, according to Bloomberg. Security has been on officials’ minds for some time; they summoned Jensen Huang, Nvidia’s C.E.O., to address whether the H20 had a backdoor vulnerability.

但在芯片问题，中国让局面变得复杂。据彭博新闻社报道，中国政府已敦促企业不要使用H20芯片，尤其是在敏感用途上，比如政府工作中。官员们担心安全问题已经有一段时间；他们为解决H20芯片是否存在后门漏洞的问题约谈了英伟达首席执行官黄仁勋。

Shares in several Chinese chipmakers, including SMIC and Hua Hong Semiconductor, rose this morning on the reports.

受这些报道的影响，几家中国芯片制造商的股价今早上涨，包括中芯国际和华虹半导体。

Who’s winning so far? Nvidia is a big beneficiary, particularly if Trump approves exports of even inferior versions of the Blackwell chip. (The president clearly likes Huang for now, calling him “a very brilliant guy” on Monday.)

目前为止，谁是赢家？英伟达是最大的受益者，尤其是如果特朗普批准公司出口哪怕是性能削弱版的Blackwell芯片的情况下。（特朗普现在显然喜欢黄仁勋，周一他称黄是“非常聪明的人”。）

But Dave Lee of Bloomberg Opinion argues that Beijing is in a good position: It is poised to get more Nvidia chips, helping out its own A.I. industry, while also bolstering its homegrown chips industry. The big question is, what else would Trump give to clinch a deal?

但彭博观点专栏的作者戴夫·李提出理由说，中国政府现在处于有利地位：它准备购买更多的英伟达芯片，帮助本国的人工智能产业发展，同时也在提高本土芯片产业。一个大问题是，特朗普为达成协议还会付出什么？

• More in trade: Trump said there would be no tariff on the import of gold bars, reversing a ruling by the U.S. customs officials that had jolted the commodities market. And the Justice Department, as part of its defense of the legality of Trump’s emergency tariffs in an appeals court case, warned that revoking the levies may lead to the U.S. not being “able to pay back the trillions of dollars that other countries have already committed to pay, which could lead to financial ruin.”

• 更多关于贸易的消息：特朗普说不会对进口金条征收关税，推翻了美国海关官员此前做出的一项裁决，该裁决曾使大宗商品市场受到震惊。美国司法部在上诉法院为特朗普紧急关税的合法性进行辩护时警告说，取消这些关税可能导致美国“无法偿还其他国家已承诺支付的数万亿美元，从而引发金融灾难”。