Bessent Says Lutnick’s Commerce Department Is Responsible for Failure to Blacklist Megaspeed
Bessent said several agencies backed the move for months as lawmakers pressed Lutnick to explain why Megaspeed was not added to the Entity List.
- Treasury Secretary Scott Bessent publicly blamed Commerce Secretary Howard Lutnick's department for failing to blacklist Singapore-based Megaspeed International, noting that Treasury officials have pushed for months to restrict the firm over suspected illicit Nvidia chip diversions to China.
- Bessent emphasized that ultimate authority over placing foreign firms on the U.S. Entity List rests with the Commerce Department, despite repeated warnings from Treasury and intelligence officials regarding Megaspeed's alleged circumvention of U.S. export controls.
- The public finger-pointing follows reports of a tense White House Situation Room confrontation last week in which Bessent—backed by Defense Secretary Pete Hegseth and Secretary of State Marco Rubio—pressed Lutnick over why Megaspeed had still not been sanctioned.
- Scrutiny over the enforcement delay has intensified following revelations that Nvidia CEO Jensen Huang had an affair with Megaspeed executive Alice Huang, whom U.S. intelligence officials suspect of acting as a Chinese intelligence operative involved in routing $7.5 billion worth of restricted AI chips to China.
- The Commerce Department denied reports of the heated Situation Room clash, maintaining that Entity List designations are made collectively at the administration level rather than unilaterally by Commerce, even as White House advisers reportedly discuss Lutnick's potential ouster.
102 Articles
102 Articles
Treasury Secretary Scott Bessent has pointed to that portfolio for not restricting the sale of Nvidia chips to Megaspeed, the axis in the fall of influential Jensen Huang
Reformatorisch Dagblad
US Treasury Secretary Scott Bessent accuses Commerce Secretary Howard Lutnick of failing to blacklist Megaspeed. The Singaporean company Megaspeed is at the center of a scandal surrounding AI chip company Nvidia. Recently resigned CEO Jensen Hang had an affair with Alice Huang, a woman who worked for Megaspeed and is suspected of being a Chinese spy.
US Treasury Secretary Scott Bessent said the Commerce Department, led by Howard Lutnick, failed to impose restrictions on Megaspeed International, a company whose top executive was Alice Huang, a Chinese spy who had an extramarital affair with Nvidia founder Jensen Huang.
Lot of leakage: Bessent blames Lutnick for not blacklisting Nvidia partner Megaspeed
Scott Bessent said on Friday that the Treasury Department, Pentagon, US Trade Representative's office and State Department had supported putting Megaspeed on Washington's trade blacklist "for months". But despite that backing, the decision was never made.
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