{
  "id": 19639008,
  "title": "Treasury and Commerce Secretaries Clash Over Megaspeed Sanctions",
  "url": "https://urgent.news/2026/11/12/treasury-and-commerce-secretaries-clash-over-megaspeed-sanctions",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-12T10:52:51.000Z",
  "source": {
    "name": "BusinessKorea",
    "slug": "businesskorea",
    "url": "https://www.businesskorea.co.kr/news/articleView.html?idxno=281176"
  },
  "original_language": "en",
  "account": "A feud has ignited between Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick over Nvidia's semiconductor dealings with China, according to reports from Axios. The dispute centers on MegaSpeed, a Singaporean firm where Alice Huang, who was involved in an extramarital affair with Nvidia CEO Jensen Huang, once held a senior position. Bessent confronted Lutnick in a White House meeting, questioning why MegaSpeed had not been added to the export control list. Lutnick initially struggled for an answer before assuring Bessent he would investigate the matter further. However, sources claim Lutnick's response was unsatisfactory, as National Security Advisor Marco Rubio had already highlighted MegaSpeed's problems in a memo. Deputy Commerce Secretary Jeff Kessler had also been warned multiple times about MegaSpeed's issues but deferred to Bessent's decision-making. While some argue that MegaSpeed should be sanctioned due to national security risks, Commerce maintains a cautious approach, fearing repercussions from China. The Department of Commerce has not added any companies to the export control list in over a year. Lutnick has allegedly been blocking efforts to hold MegaSpeed accountable, despite pressure from other administration officials. The conflict between the two secretaries dates back to their competition for the Treasury position during Trump's election campaign. Despite their differences, both secretaries have been accused of confronting each other in the Situation Room, though Commerce denies these claims. MegaSpeed has denied any wrongdoing and stated it operates legally, while the Chinese Foreign Ministry dismissed espionage allegations against Alice Huang as \"baseless speculation.\"",
  "summary": "A blame game has erupted within the Donald Trump administration over Nvidia’s semiconductor supply to China. Secretary of the Treasury Scott Bessent reportedly lodged a public protest with Secretary of Commerce Howard Lutnick regarding whether to sanction MegaSpeed, a Singaporean company where Alice",
  "key_points": [],
  "editors_take": "Internal friction between the Treasury and Commerce departments threatens to stall critical semiconductor export controls as officials struggle to reconcile national security risks with the fear of Chinese retaliation.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}