Bessent upset Lutnick didn't ban Nvidia chip exports to China-linked firm
Treasury Secretary Scott Bessent is blaming Commerce Secretary Howard Lutnick for allowing Megaspeed, the firm once led by alleged Chinese spy Alice Huang, to circumvent U.S. restrictions by funneling Nvidia chips to China, CBS News has learned. Megaspeed denies wrongdoing and China denies the spying allegations. Ed O'Keefe has the story.
Treasury Secretary Scott Bessent has accused Commerce Secretary Howard Lutnick of failing to prevent China from obtaining advanced Nvidia chips. According to CBS News, Bessent is blaming Lutnick for allowing the firm Megaspeed to circumvent U.S. restrictions by funneling Nvidia chips to China. Megaspeed, which was once led by Alice Huang, has denied any wrongdoing, while China has denied allegations of spying.
PBS NewsHour reports that this dispute represents a public fight between two of President Trump’s top advisers following the downfall of former Nvidia CEO Jensen Huang. While the Commerce Department's agency controls the entity list of banned companies and countries, Bessent expressed frustration regarding delays in placing restrictions on chip exports to the firm mentioned by CBS News.
Brief written by urgent.news from CBS News, PBS NewsHour, Japan Times, Japan Today, Techmeme — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
