Nvidia CEO Jensen Huang arrived in Beijing on Thursday, just days after the U.S. imposed new restrictions on the export of the company’s H20 AI chips to China.

According to Chinese state media, Huang met with Ren Hongbin, chairman of the China Council for the Promotion of International Trade, and emphasized that “China is a very important market for Nvidia.” He expressed hope for “continued cooperation” despite the growing trade tensions between Washington and Beijing.

The new U.S. licensing requirements, targeting GPUs with performance levels similar to the H20 chip — the main product Nvidia had been legally selling in China — are expected to cost the company $5.5 billion in revenue this quarter alone. Following the announcement, Nvidia’s shares dropped by around 7% on Wednesday.

In 2024, Nvidia generated $17 billion in revenue from the Chinese market, representing approximately 13% of its total global sales. The H20 chip accounted for a significant share of that income.

The visit comes as the U.S. imposes tariffs of up to 245% on Chinese imports, while China has retaliated with 125% tariffs on American goods. Under previous President Joe Biden, the U.S. had already restricted exports of Nvidia’s high-end GPUs designed for advanced AI systems.

Huang has previously stated that Nvidia will continue to strike a balance between legal compliance and innovation, asserting that “nothing will stop the global progress of AI.”

The Taiwan-born entrepreneur remains committed to sustaining Nvidia’s presence in China, even as U.S. trade policies continue to shift under President Donald Trump’s administration.