Bessent criticizes Commerce Department for delaying Nvidia chip export controls to China

Treasury Secretary Scott Bessent publicly criticized the Commerce Department on Friday for delaying export controls on certain Nvidia chips to China, saying he was frustrated by the lack of action. He stated that multiple agencies supported restricting the chips but Commerce held authority over the matter. Bessent said President Trump made clear China should not receive Nvidia chips above H100s, and that Commerce "has the pen" on the issue. The rebuke follows reports that Commerce Secretary Howard Lutnick resisted tighter limits on advanced chip sales to China. The dispute involves Singapore-based Megaspeed International, accused last year of illicitly shipping Nvidia chips to China, though it denies wrongdoing. Nvidia CEO Jensen Huang resigned Thursday amid reports of an affair with a former Megaspeed executive suspected by U.S. intelligence of being a Chinese spy.