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Bessent said Commerce controlled the decision on whether to place Megaspeed on a U.S. export-control list.
Treasury Secretary Scott Bessent said several government agencies had supported listing Singapore-based Megaspeed, while the Commerce Department had authority over the decision. The comments came as lawmakers scrutinized Commerce Secretary Howard Lutnick, who agreed to testify before the Senate Banking Committee.
What the reports agree on
- Bessent said several agencies supported adding Megaspeed to a U.S. list restricting trade or exports. Axios, CBS News, The Hill, Newsweek and 2 more
- Bessent said the Commerce Department controlled the decision to add Megaspeed to the list. Axios, CBS News, The Hill, Newsweek and 2 more
- U.S. officials suspected Megaspeed of helping route advanced Nvidia chips to China. CBS News, Newsweek, BBC Tech
- Senior White House officials were reportedly discussing whether Lutnick should leave his post as commerce secretary. Newsweek, France24
Where reports differ
- It reported that Lutnick agreed to testify on December 3. Al Jazeera
- It reported that Lutnick agreed to testify on December 10. CBS News
Reported by one outlet
- It reported that Lutnick agreed to appear voluntarily before the Senate Banking Committee. The Hill
- It reported that Trump had publicly expressed confidence in Lutnick and had not announced a decision about his future. Newsweek
- It reported that Megaspeed denied wrongdoing. CBS News
- It reported that Bessent said China should not receive Nvidia chips above the H100 level. PBS NewsHour
The original reports
- CBS News Bessent upset Lutnick didn't ban Nvidia chip exports to China-linked firm
- PBS NewsHour Bessent blames Lutnick's Commerce Department for not restricting Nvidia chips to China
- Newsweek Trump's Inner Circle Throws Howard Lutnick Under the Bus
- The Hill Bessent: Treasury pushed to blacklist Megaspeed, but ‘Commerce has the pen’
- CBS News Lutnick agrees to testify as Bessent blames him for chip sales
- BBC Tech Bessent blames Lutnick's Commerce Department for failing to block Megaspeed
- Axios Bessent puts Megaspeed heat on Lutnick: "Commerce has the pen"
- The Hill Lutnick agrees to testify before Congress amid bipartisan concerns
- Al Jazeera Nvidia’s Huang, Lutnick summoned to testify to US Senate
- France24 White House reportedly discussing Howard Lutnick's future as Commerce secretary