US Treasury Chief Blames Commerce Department for Delaying China-Linked Firm Blacklist

US Treasury Secretary Scott Bessent stated that he has favored putting Megaspeed on a trade blacklist for months to prevent Nvidia from exporting advanced chips to Beijing. However, he claimed the process has been delayed because the commerce department holds responsibility for the action. Reports previously emerged that Bessent allegedly confronted Commerce Secretary Howard Lutnick in the White House Situation Room over the failure to blacklist the firm. When questioned by CNBC, Bessent declined to comment on the reported confrontation, stating that they do not repeat conversations from the Situation Room.