Bessent blames Lutnick’s Commerce Department for not restricting Nvidia chips to China

Treasury Secretary Scott Bessent publicly criticised the Commerce Department for delaying export controls on certain Nvidia chips to China. His comments highlight disagreement within the US government over technology restrictions that officials say are intended to limit China’s access to advanced chips.

Bessent said Treasury, State, Defence and the US Trade Representative had supported adding Singapore-based Megaspeed International to an export control list for months, while Commerce was responsible for acting. The dispute comes amid scrutiny of Commerce Secretary Howard Lutnick’s reported relationship with Nvidia chief Jensen Huang, who resigned after reports of an affair with a former Megaspeed executive. Megaspeed has faced accusations of shipping Nvidia chips to China, which it has denied.