Bessent Blames Commerce Department for Failing to Restrict Nvidia Partner
U.S. Treasury Secretary Scott Bessent speaks during a "fireside chat", as finance ministers and central bank governors from G20 countries meet in Asheville, North Carolina, U.S., September 1, 2026. (Reuters File)
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Treasury Secretary Scott Bessent said Friday that the Commerce Department failed to restrict Singapore-based Megaspeed International despite months of support from other federal agencies, The Wall Street Journal reported.
In a CNBC interview, Bessent said Treasury, State, Defense, and the U.S. trade representative’s office favored adding the Nvidia partner to an export control list.
“Commerce has the pen,” he said.
The dispute concerns Chinese access to advanced Nvidia chips. Megaspeed has faced scrutiny over potential chip transfers to China and previously described itself as compliant and legitimate.
Commerce did not immediately respond to a request for comment from the Journal.
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