US Treasury Secretary Criticizes Commerce Department Over Nvidia Scandal

WASHINGTON: US Treasury Secretary Scott Bessent has publicly criticized the Commerce Department for its failure to blacklist Megaspeed, the Singapore-based company at the center of a scandal that led to the resignation of Nvidia CEO Jensen Huang. Bessent’s remarks came during an interview on CNBC on Friday.

Bessent stated that the Treasury, along with the Defence Department, the US Trade Representative’s office, and the State Department, had supported the move to add Megaspeed to the trade blacklist for several months. He expressed frustration, noting, “Commerce has the pen. You will have to ask them about their internal processes.”

This incident raises significant concerns regarding the effectiveness of US trade policies and the implications for international relations, particularly with China. The scandal not only affects Nvidia’s leadership but also highlights the complexities of enforcing trade regulations in a rapidly evolving technological landscape.

Looking ahead, it remains to be seen how the Commerce Department will respond to Bessent’s comments and whether any further actions will be taken regarding Megaspeed. The situation underscores the need for clearer communication and coordination among US government agencies involved in trade enforcement.