Ed Ludlow, a Bloomberg Technology Co-Host from London, breaks down a significant deal where Nvidia and AMD will pay 15% of their revenue from AI chip sales in China to the U.S. for export licenses. Brendan Murray, Bloomberg's Global Trade Editor, highlights the pressures of tariffs on small U.S. companies, revealing a staggering $200 billion annual impact. They discuss how these financial burdens affect cash flow and operational stability, painting a stark picture of the current economic climate for small businesses.