Bessent blames Commerce Department for delay in curbing Nvidia chip exports to China

US Treasury Secretary Scott Bessent publicly criticized the Commerce Department on Friday for delaying restrictions on exports of certain Nvidia chips to China, saying multiple agencies had backed action against Singapore-based Megaspeed International for months. Bessent said the Treasury, State and Defence departments and the US Trade Representative favored placing Megaspeed on an export control list, but Commerce "has the pen" on the decision. The criticism follows Commerce Secretary Howard Lutnick's reported resistance to stricter limits amid scrutiny of Nvidia CEO Jensen Huang's relationship with a former Megaspeed executive suspected of being a Chinese spy. The dispute comes as lawmakers demand investigations into Lutnick's handling of Nvidia chip exports, with Democrats and Republicans calling for his testimony. Megaspeed, which purchased over $4 billion in advanced Nvidia chips, has denied illicit exports, while China has denied spying allegations.