Bessent blames Lutnick's Commerce Department for not restricting Nvidia chips to China
Treasury Secretary Scott Bessent publicly blames Commerce Secretary Howard Lutnick's department for stalling export controls on Nvidia chips to China, saying his and other agencies favored restricting Singapore-based Megaspeed International months ago. Chinese firms have accessed Nvidia chips through Megaspeed, which was accused in 2025 of illicitly shipping advanced Nvidia chips to China, and CEO Jensen Huang resigned on 12 November 2026.
