Wire · regulatory
Bessent blames Lutnick's Commerce Department for not restricting Nvidia chips to China
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Fusion42 · 13 November 2026 · Fusion42 review
Treasury Secretary Scott Bessent publicly criticised the Commerce Department, led by Howard Lutnick, for delaying export controls on advanced Nvidia chips to China, despite other departments supporting the restrictions. The controversy involves Nvidia's ties to Singapore's Megaspeed International, linked to suspected illicit chip shipments and Chinese espionage ties, contributing to Nvidia CEO Jensen Huang's resignation.
This Wire brief sits within Fusion42's coverage of Semiconductors, and 3 sources have reported it.
◆ ◆ The Wire takeaway
Your semiconductor business faces tighter US export restrictions to China as internal US government divisions spark public conflict. Prepare for sudden compliance shifts and possible market disruptions linked to geopolitical issues with chip exports.
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3 sources · 13 Nov 2026
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