Trump Treasury Secretary Blames Commerce Dept for Nvidia Export Controls
· Technology · The Independent, Bloomberg
Treasury Secretary Scott Bessent accused Commerce Secretary Pete Lutnick of failing to blacklist Singapore's Megaspeed amid the Nvidia export control scandal. Bessent stated the Treasury, Pentagon, State Department and Trade Representative's Office had pushed to add Megaspeed to the entity list for months. The Commerce Department's entity list, which blocks trade with China-linked groups posing national security risks, remains under Lutnick's control as reports show he stalled Trump's crackdown on suspected chip diversion. US lawmakers are demanding tougher restrictions on China's access to advanced AI chips following the Nvidia spy controversy involving CEO Jensen Huang's affair with a former executive suspected of Chinese espionage.
Why it matters
The dispute threatens to implicate Trump administration members like Lutnick and could lead to stricter export controls affecting Nvidia's AI chip sales to China, directly impacting global semiconductor supply chains and India's technology sector.
Read the original report — The Independent
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