August 12, 2025
Trump just turned export controls into a “pay to play” toll road for corporate America. In his newest Street Sense column for MarketWatch, R360 Managing Partner Charlie Garcia explains how the administration’s deal with Nvidia and AMD marks a shift from national-security policy to a revenue model — one where the U.S. government takes 15% of the action.
Trump just turned export controls into a “pay to play” toll road for corporate America. In his newest Street Sense column for MarketWatch, R360 Managing Partner Charlie Garcia explains how the administration’s deal with Nvidia and AMD marks a shift from national-security policy to a revenue model — one where the U.S. government takes 15% of the action.
This isn’t just about chips. If this toll-road model spreads, stock prices could start reflecting regulatory relationships more than fundamentals — and the winners won’t necessarily be the best companies, just the ones who can afford the fee.
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