Summary
Treasury Secretary Scott Bessent said he was frustrated by the Commerce Department’s delay in imposing export controls on certain Nvidia chips bound for China. He said several other U.S. agencies supported adding Megaspeed to an export control list, but Commerce was responsible for the decision.Key Facts
- Bessent discussed the issue on CNBC on Friday.
- Bessent said the Treasury, State and Defense departments and the U.S. Trade Representative supported adding Megaspeed to an export control list.
- Bessent said the Commerce Department was responsible for the matter.
- Bessent said President Donald Trump had made clear that China should not receive Nvidia chips above the H100 level.
- Bessent said the Commerce Department controlled the process and that questions about its internal procedures should go to the department.
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