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Scott Bessent said the Commerce Department controlled whether to place Megaspeed on a U.S. export-control list.
Bessent said several agencies had supported listing Singapore-based Megaspeed, which is suspected of helping advanced Nvidia chips reach China. Howard Lutnick’s department faces scrutiny over the decision, and Lutnick agreed to testify before the Senate Banking Committee.
What the reports agree on
- Bessent said several government agencies had supported placing Megaspeed on a U.S. export-control or trade blacklist. Axios, BBC Tech, CBS News, The Hill and 2 more
- Bessent said the Commerce Department controlled the decision to list Megaspeed. Axios, BBC Tech, CBS News, The Hill and 2 more
- Megaspeed is suspected of helping advanced Nvidia chips reach China in violation of U.S. restrictions. BBC Tech, CBS News, Newsweek
- Howard Lutnick agreed to testify before the Senate Banking Committee. The Hill, CBS News
Where reports differ
- CBS News said Lutnick agreed to testify on Dec. 10. CBS News
- Al Jazeera reported that Scott asked Huang and Lutnick to testify at a public hearing on Dec. 3. Al Jazeera
Reported by one outlet
- Newsweek reported that senior White House officials had discussed removing Lutnick, while a White House official said Trump remained confident in him. Newsweek
- France24 reported that Reuters had previously reported the administration held off on blacklisting DeepSeek, Chinese memory-chip maker CXMT, and more than 100 other companies. France24
- CBS News reported that the Commerce Department’s Bureau of Industry and Security opened a probe into Nvidia chip sales to Megaspeed in 2024, and that the probe later transferred to the Justice Department. CBS News
- Al Jazeera reported that Scott said Huang and Lutnick could face subpoenas if they did not appear. Al Jazeera
The original reports
- 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
- Newsweek Poll of the Day: Should President Donald Trump Fire Howard Lutnick?
- Al Jazeera Nvidia’s Huang, Lutnick summoned to testify to US Senate
- CBS News Critics say Lutnick failed to cut off diversion of Nvidia chips to China
- France24 White House reportedly discussing Howard Lutnick's future as Commerce secretary