Treasury chief criticizes Commerce delay on Nvidia chip export restrictions

U.S. Treasury Secretary Scott Bessent said Friday he was frustrated with the Commerce Department's delay in restricting Nvidia chip exports to Megaspeed International, a Singapore-based company led by an alleged Chinese spy. Bessent said his department, along with State, Defence and the U.S. trade representative, had supported adding Megaspeed to an export control list for months, but Commerce Secretary Howard Lutnick's department held authority over the matter. The comments mark an unusually public rebuke of a fellow cabinet member. The dispute comes amid a scandal involving former Nvidia CEO Jensen Huang, who resigned after reports of an affair with Megaspeed CEO Alice Huang, suspected by U.S. intelligence of being a Chinese spy. Congress members are demanding investigations and records related to Lutnick's decisions on chip exports.