This article is authored by Yahoo Finance

President Trump on Monday said imports of gold (GC=F) to the US would not face a tariff.

“Gold will not be Tariffed!” Trump wrote on social media.

Gold futures were little changed after Trump’s post. Prices for the metal were sliding on Monday.

The White House had said last week that the administration would issue a new policy clarifying whether gold bars would be subject to duties after a US government agency said they would, prompting chaos and confusion in the market.

Elsewhere on Monday, Nvidia (NVDA) and AMD (AMD) agreed to pay the US 15% of the revenue for AI-related chip sales to China, adding a monetization layer to the Trump administration’s tariff policy that has reoriented global trade relationships.

The New York Times reported that Nvidia CEO Jensen Huang agreed to the arrangement, which is “essentially making the federal government a partner in Nvidia’s business in China,” at a meeting with President Trump on Wednesday and that licenses for the chip sales followed on Friday.

On Monday morning, AMD confirmed that “initial” China licenses for AI chips were approved.

“To call this unusual or unprecedented would be a staggering understatement,” Stephen Olson, a former US trade negotiator, told Bloomberg. “What we are seeing is in effect the monetization of US trade policy in which US companies must pay the US government for permission to export. If that’s the case, we’ve entered into a new and dangerous world.”

The chips include Nvidia’s H20 AI accelerator and AMD’s MI308 chips, which the Trump administration had previously targeted with export controls.

Also on Sunday, Trump urged China to quadruple soybean purchasesahead of an Tuesday deadline for the countries to extend their truce from sky-high tariffs on each other.

Asked if he’d extend that deadline, Trump said Monday, “We’ll see what happens,” but added that China has been “dealing quite nicely” with the US.

Trump’s latest sweeping “reciprocal” tariffs hit US trade partners last week.