Bessent Criticizes Commerce's Lutnick Over Delayed Nvidia Chip Export Restrictions to China

Treasury Secretary Scott Bessent said Friday he was frustrated with the Commerce Department’s delay in restricting exports of certain Nvidia chips to China, citing a clear directive from President Trump. Bessent told CNBC that his department, along with State, Defense, and the U.S. Trade Representative, had supported adding Megaspeed to an export control list for months, but Commerce held authority. He said Commerce “has the pen” regarding the matter. The comments follow Nvidia CEO Jensen Huang’s resignation Thursday amid reports of an affair with a former Megaspeed executive suspected of espionage. Megaspeed, previously accused of illicit chip shipments to China, denies wrongdoing.