Scott Bessent blames the Commerce Department for not cracking down on Megaspeed
"Commerce has the pen," Treasury Secretary Scott Bessent said. "You all will have to ask them about their internal processes."
Treasury Secretary Scott Bessent blamed the Commerce Department for failing to take action against Megaspeed, the Singapore-based cloud company at the center of the Nvidia scandal. Bessent stated that it was the Commerce Department that had refused to place Megaspeed on a trade blacklist, leading reporters to ask why his department had not done so.
During an interview on CNBC, Bessent expressed support for cracking down on Megaspeed, but placed the blame on the Commerce Department, effectively singling out Commerce Secretary Howard Lutnick. The story comes as a result of an Axios report that Bessent confronted Lutnick during a meeting in the Situation Room, questioning why the Commerce Department had not added Megaspeed to the entity list, a trade blacklist under Lutnick's control.
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