Nvidia’s CEO Jensen Huang says the technology giant has won approval from the Trump administration to sell its advanced H20 computer chips used to develop artificial intelligence to China.

The granting of export licenses for the company’s H20 chips points to a tentative de-escalation in the trade war between Washington and Beijing.

A White House spokesman, Kush Desai, said Mr. Trump’s “America First policies” had led to trillions of dollars in investments in U.S. manufacturing and technology, which “will create thousands of qua...