Bessent says Commerce Dept blocked blacklisting Nvidia partner Megaspeed

US Treasury Secretary Scott Bessent said Friday that four government agencies favored blacklisting Megaspeed, the Singapore company central to the Nvidia scandal, but the Commerce Department, which holds authority, did not. Bessent said Treasury, the Pentagon, the State Department, and the U.S. Trade Representative's Office had supported adding Megaspeed to the Commerce Department's entity list for months, but "Commerce has the pen." The entity list targets groups tied to China posing national security risks. The Commerce Department did not comment. Criticism grows over Commerce Secretary Howard Lutnick's oversight of chip export controls, with reports he stalled Trump's crackdown on companies diverting Nvidia chips to China. Megaspeed is linked to an affair involving Nvidia CEO Jensen Huang and a suspected Chinese spy.