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Politics — Technology

Bessent Blames Lutnick's Commerce Department For Failure To Blacklist Megaspeed

House Speaker Mike Johnson said Congress was building consensus around additional restrictions.

,   and  TIPP Staff
2 min read
Bessent blames Lutnick’s commerce department for failure to blacklist Megaspeed. Pic via(@FT)

US lawmakers are moving to tighten restrictions on advanced chip exports to China following Jensen Huang's resignation as Nvidia CEO and controversy surrounding the company's relationship with Singapore-based Megaspeed.

The developments have intensified scrutiny of US export controls, with Treasury Secretary Scott Bessent reportedly blaming Commerce Secretary Howard Lutnick's department for failing to blacklist Megaspeed.

House Speaker Mike Johnson said Congress was building consensus around additional restrictions.

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House Foreign Affairs Committee Chairman Brian Mast said four proposed bills, including the Chip Security Act, could be incorporated into the annual defence bill. Mast also wants Huang to testify within a week as lawmakers examine export oversight by Lutnick and Jeffrey Kessler.

The inquiry follows reports of Huang's relationship with Alice Huang, a Megaspeed executive suspected of helping China obtain restricted AI chips.

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