Category: Economy
Tags: Economy, Scott Bessent, Commerce Department, Nvidia
Treasury Secretary Scott Bessent said Friday that he has supported placing Megaspeed on a blacklist “for months,” but said the Commerce Department controls the decision and the process has stalled.
The proposed action would prevent Nvidia from exporting advanced chips to Beijing.
Bessent made the comments during an appearance on CNBC. He did not comment on an alleged confrontation with Howard Lutnick that Axios said occurred in the White House Situation Room.
“We don’t repeat conversations in the Situation Room,” Bessent said.