Lutnick agrees to testify as Bessent blames him for chip sales
Also reported by BBC Tech, Axios, The Hill, Al Jazeera
Summary
Commerce Secretary Howard Lutnick agreed to testify before the Senate Banking Committee on Dec. 10 as lawmakers scrutinize the department’s oversight of advanced AI chip exports. Treasury Secretary Scott Bessent said several agencies supported placing Singapore-based Megaspeed International on the U.S. Entity List for months, while Commerce controlled the decision.Key Facts
- Lutnick agreed to testify before the Senate Banking Committee on Dec. 10.
- Republican lawmakers are seeking answers about an apparent delay in adding Megaspeed International to the U.S. Entity List.
- The Entity List restricts a company’s ability to obtain certain U.S. goods and technology.
- U.S. officials suspect Megaspeed directed advanced Nvidia chips to China in violation of U.S. export restrictions.
- Bessent said Treasury, the Defense Department, the U.S. Trade Representative and the State Department supported listing Megaspeed for months.
- Bessent said the Commerce Department had authority over the listing decision.
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