Scott Bessent says Treasury wanted to blacklist Megaspeed ‘for months,’ blaming Howard Lutnick as Nvidia fallout widens: ‘Commerce has the pen’

First reported by Financial Times at Fri 7:51 AM · 11 outlets in all

1. Fortune(subscription required)1hScott Bessent says Treasury wanted to blacklist Megaspeed ‘for months,’ blaming Howard Lutnick as Nvidia fallout widens: ‘Commerce has the pen’Bessent said the Treasury, Defense, and State Departments were all in favor of placing trade restrictions on Megaspeed, but only Commerce had the power to do so.
2. Yahoo Finance3hScott Bessent Backs Export Curbs on Nvidia Customer Megaspeed
3. Business Insider(subscription required)3hScott Bessent blames the Commerce Department for not cracking down on Megaspeed"Commerce has the pen," Treasury Secretary Scott Bessent said. "You all will have to ask them about their internal processes."
4. New York Times(subscription required)4hBessent Faults Commerce Dept. for Failing to Blacklist MegaspeedThe Treasury secretary blamed the department for not sanctioning the Singaporean firm and said that Nvidia employees should be held accountable if they sidestepped the law.
5. Washington Examiner4hBessent says Treasury wanted to put Megaspeed on entity blacklist for months, but Commerce Department ‘has the pen’Treasury Secretary Scott Bessent directly blamed the Commerce Department for delaying the broader administration’s intent to place Nvidia customer Megaspeed on a special blacklist of companies that could pose a national security threat. In a CNBC interview Friday morning, Bessent said the U.S. Trade Representative and the Treasury, War, and State departments were “in favor
6. NY Post5hCommerce Dept’s Howard Lutnick to testify before Senate about Nvidia, Megaspeed fiascoEmbattled Commerce Secretary Howard Lutnick is set to testify before the Senate about his agency’s handling of AI chip export controls.
7. The Hill5hBessent: Treasury pushed to blacklist Megaspeed, but ‘Commerce has the pen’Treasury Secretary Scott Bessent is pointing the finger at Commerce Secretary Howard Lutnick over the Trump administration’s failure to place Nvidia customer Megaspeed on a U.S. trade blacklist for national security concerns. When pressed Friday over who was behind the decision, Bessent told CNBC, “Treasury, War, USTR [U.S. Trade Representative] and State … were in…
8. Yahoo News5hBessent says Treasury favored limits on Megaspeed and places blame on CommerceTreasury Secretary Secretary Scott Bessent, picutred left alongside Secretary of State Marco Rubio, when Chinese President Xi Jinping visited the White House on September 24, 2026 (Brendan SMIALOWSKI)US Treasury Secretary Scott Bessent on Friday blamed the Commerce Department for failing to blacklist Megaspeed, the Singapore company at the center of a scandal that prompted Nvidia chief executive Jensen Huang to resign.Speaking on CNBC, Bessent said Treasury, the Defense Department, the US Trade Representative's office and the State Department had backed adding Megaspeed to the Washington's…
9. Axios6hBessent puts Megaspeed heat on Lutnick: "Commerce has the pen"
10. Crypto Briefing6hBessent criticizes Commerce for not blacklisting Megaspeed over Nvidia chip diversionThe unresolved interagency dispute over Megaspeed's blacklisting could undermine confidence in Commerce leadership, affecting market stability.
11. Financial Times(subscription required)7hBessent blames Lutnick’s commerce department for failure to blacklist MegaspeedSalvo from US Treasury secretary risks stoking tensions within Trump administration over Nvidia scandal