Treasury Secretary Scott Bessent has publicly criticized the Commerce Department, stating it failed to act for months on placing the China-linked data company Megaspeed on a trade blacklist. Bessent expressed his belief that the delay prevented the U.S. from stopping Nvidia from exporting advanced chips to Beijing.
Bessent indicated that multiple government agencies supported blacklisting Megaspeed, but the Commerce Department, led by Secretary Howard Lutnick, held the ultimate authority and did not proceed. He suggested that Nvidia employees should face accountability if they circumvented existing regulations. The Treasury Secretary's remarks come as Commerce Secretary Lutnick has agreed to voluntarily appear before the Senate banking committee on December 10th to discuss these matters.
Bessent Blames Commerce Department for Megaspeed Blacklist Delay
3 stories · 3 sources
Sources
- Bessent Faults Commerce Dept. for Failing to Blacklist Megaspeed — New York Times Business,
- Bessent blames Lutnick's Commerce Department for failing to block Megaspeed — BBC Business,
- Scott Bessent says attempt to put Megaspeed on trade blacklist stalled ‘because commerce has the pen’ – US politics live — The Guardian World,