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

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11 outlets covering · First listed: Fortune, Nov 13, 2026, 1:42 PM · Read it: <https://fortune.com/2026/11/13/scott-bessent-treasury-blacklist-megaspeed-howard-lutnick-nvidia-jensen-huang/>

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.

## Who's covering it

In the order they published:

- Nov 13, 2026, 7:51 AM: [Bessent blames Lutnick’s commerce department for failure to blacklist Megaspeed](<https://www.ft.com/content/ce6d292e-eaaa-4c23-b909-34276e1a1e8d?syn-25a6b1a6=1>) — Financial Times (Newspaper, United Kingdom, rated Center)
  Salvo from US Treasury secretary risks stoking tensions within Trump administration over Nvidia scandal
- Nov 13, 2026, 7:54 AM: [Bessent criticizes Commerce for not blacklisting Megaspeed over Nvidia chip diversion](<https://cryptobriefing.com/bessent-criticizes-commerce-for-not-blacklisting-megaspeed-over-nvidia-chip/>) — Crypto Briefing (Specialist)
  The unresolved interagency dispute over Megaspeed's blacklisting could undermine confidence in Commerce leadership, affecting market stability.
- Nov 13, 2026, 8:18 AM: [Bessent puts Megaspeed heat on Lutnick: "Commerce has the pen"](<https://www.axios.com/2026/11/13/bessent-lutnick-megaspeed-nvidia>) — Axios (Digital news, United States, rated Center)
- Nov 13, 2026, 8:56 AM: [Bessent says Treasury favored limits on Megaspeed and places blame on Commerce](<https://www.yahoo.com/news/politics/articles/us-treasury-chief-blames-commerce-145607629.html>) — Yahoo News (Digital news, United States, rated Lean left)
  Treasury 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…
- Nov 13, 2026, 9:25 AM: [Bessent: Treasury pushed to blacklist Megaspeed, but ‘Commerce has the pen’](<https://thehill.com/homenews/administration/6218454-bessent-lutnick-megaspeed-dispute/>) — The Hill (Newspaper, United States, rated Center)
  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…
- Nov 13, 2026, 9:47 AM: [Commerce Dept’s Howard Lutnick to testify before Senate about Nvidia, Megaspeed fiasco](<https://nypost.com/2026/11/13/business/howard-lutnick-to-testify-before-senate-on-nvidia-megaspeed-fiasco/>) — NY Post (Newspaper, United States, rated Lean right)
  Embattled Commerce Secretary Howard Lutnick is set to testify before the Senate about his agency’s handling of AI chip export controls.
- Nov 13, 2026, 10:01 AM: [Bessent says Treasury wanted to put Megaspeed on entity blacklist for months, but Commerce Department ‘has the pen’](<https://www.washingtonexaminer.com/news/business/4802617/scott-bessent-treasury-wanted-megaspeed-entity-blacklist/>) — Washington Examiner (Magazine, United States, rated Lean right)
  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
- Nov 13, 2026, 10:19 AM: [Bessent Faults Commerce Dept. for Failing to Blacklist Megaspeed](<https://www.nytimes.com/2026/11/13/business/economy/bessent-commerce-megaspeed-lutnick.html>) — New York Times (Newspaper, United States, rated Lean left)
  The 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.
- Nov 13, 2026, 11:02 AM: [Scott Bessent blames the Commerce Department for not cracking down on Megaspeed](<https://www.businessinsider.com/scott-bessent-howard-lutnick-nvidia-megaspeed-entity-list-2026-11>) — Business Insider (Digital news, United States, rated Lean left)
  "Commerce has the pen," Treasury Secretary Scott Bessent said. "You all will have to ask them about their internal processes."
- Nov 13, 2026, 11:20 AM: [Scott Bessent Backs Export Curbs on Nvidia Customer Megaspeed](<https://news.google.com/rss/articles/CBMingFBVV95cUxNb21UazNjSy1EQ0RGemJRWGRTTWNoNHB6X3M2NnF5dTRjU3lIVzNMeHRnUUFKVWluNnIwQ19XRTBYVWtiODAzVTA5eEtEQm42VzUwLU43aW1keWhkcURTSGI5VjZMNUFydThoM2FTcDQ1VmZQVW54YzhYVGptX2VKZDY2MzhLOVlMWXR1ZkotMG56RWhuMlQ4clY2ZnNpdw?oc=5>) — Yahoo Finance (Business & finance, United States, rated Center)
- Nov 13, 2026, 1:42 PM: [Scott Bessent says Treasury wanted to blacklist Megaspeed ‘for months,’ blaming Howard Lutnick as Nvidia fallout widens: ‘Commerce has the pen’](<https://fortune.com/2026/11/13/scott-bessent-treasury-blacklist-megaspeed-howard-lutnick-nvidia-jensen-huang/>) — Fortune (Magazine, United States, rated Center)
  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.