Bessent: Treasury has wanted Megaspeed restrictions for months, but Commerce is in charge
A CNBC article reports Treasury Secretary Scott Bessent saying his department and others in the Trump administration have favored restricting Megaspeed for months, but the Commerce Department is in charge and he is frustrated by chip leakage to China. It comes after Jensen Huang resigned as Nvidia CEO amid scandal, and Axios reports Commerce Secretary Howard Lutnick has resisted export controls, which a spokeswoman denies.
