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Bessent Says Treasury Backed Restrictions on Megaspeed but Commerce Didn’t Act

The Wall Street JournalView source article

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Bessent publicly blames Lutnick's Commerce Department for Nvidia-Megaspeed failure

Treasury Secretary Scott Bessent publicly accused Commerce Secretary Howard Lutnick's department of failing to blacklist Megaspeed, the Singapore firm at the center of the Nvidia chip-export scandal, saying 'Commerce has the pen.' Lutnick has agreed to testify before Congress.

Nov 13, 2026·8 sourcesInvestigationsU.S. technology trade restrictionsCongressU.S. CongressTrump administrationFederal agenciesSenate Banking CommitteeU.S. Department of DefenseScott BessentChip export controlsUS–China AI competitionAI chips
Bessent publicly blames Lutnick's Commerce Department for Nvidia-Megaspeed failure
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Other sources for this story

Financial Times

Bessent blames Lutnick’s commerce department for failure to blacklist Megaspeed

CNN

Bessent points finger at Commerce Department in Nvidia scandal as Trump advisers discuss possible Lutnick ouster | CNN Politics

New York Post

Treasury secretary points finger at Howard Lutnick, Commerce Department over Nvidia chip scandal

CBS News

Lutnick agrees to testify as Bessent blames him for not banning Nvidia chip exports to China-linked firm

BBC

Bessent blames Lutnick's department for not banning Nvidia chip sales to China-linked firm

Talking Points Memo

No Room on the Lifeboat … Admin Sharks Circle Lutnick

The New York Times

Bessent Faults Commerce Dept. for Failing to Blacklist Megaspeed