Bessent blames Lutnick’s Commerce Department for delay in curbing Nvidia chip flow to China

WASHINGTON: US Treasury Secretary Scott Bessent on Friday blamed the Commerce Department for delaying action to restrict the flow of advanced Nvidia chips to China through Singapore-based Megaspeed International, a company at the centre of a scandal involving the chipmaker’s former CEO Jensen Huang.

Speaking on CNBC, Bessent said the Treasury, Defence and State departments, along with the US Trade Representative’s office, had supported adding Megaspeed to Washington’s export control list for months, but the Commerce Department was responsible for implementing the move.