Bessent Says Lutnick’s Commerce Department Is Responsible for Failure to Blacklist Megaspeed
Bessent said multiple agencies backed the blacklist for months, but Commerce delayed action as lawmakers pressed for testimony and tighter chip controls.
- On Thursday, US House Speaker Mike Johnson said Congress is building consensus to limit chip exports to China following the resignation of Nvidia CEO Jensen Huang.
- Reports revealed that Huang had a romantic relationship with Alice Huang, an executive at Megaspeed, a partner suspected of helping China obtain restricted AI chips.
- House Foreign Affairs Chairman Brian Mast said it is "very likely" a group of four bills, including the Chip Security Act, will be added to the annual defense bill.
- Mast is pressing for Huang to testify soon, stating "We want to see him basically in a week," while lawmakers scrutinize Commerce Secretary Howard Lutnick and Jeffrey Kessler over export oversight.
- Analyst Sunny Cheung noted Huang's departure could weaken Nvidia's influence in Washington and stated "Congress can still subpoena him and Nvidia should conduct an independent investigation.
166 Articles
166 Articles
These statements constitute an unusual public reprimand from one cabinet department to another. The Department of Commerce is headed by Secretary Howard Lutnick.
Bessent Blames Lutnick’s Commerce Department For Not Restricting Nvidia Chips To China
WASHINGTON (AP) — Treasury Secretary Scott Bessent said Friday he was frustrated with the Commerce Department’s delay in implementing restrictions over the export of certain Nvidia chips to China. Bessent said on CNBC that his department, along with the departments of State and Defense and the U.S. Trade Representative, were in favor of adding Megaspeed […]
(New York = Yonhap News) Correspondent Kim Yeon-sook = U.S. Treasury Secretary Scott Besant [on the 13th] (local time) [regarding] former Nvidia CEO Jensen Huang's 'Chinese spy...
The Nvidia scandal has escalated into an open conflict within the Trump administration. Treasury Secretary Scott Besant said the Commerce Department had delayed adding Singapore-based Megaspeed International to a list of companies that Washington could impose restrictions on because of national security concerns. Besant said the Treasury, State, Defense and U.S. Trade Representatives had been supporting the move for months. “The Commerce Departm…
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