Bessent Blames Commerce Department Over Lack of Controls for Nvidia Partner Megaspeed

U.S. Treasury Secretary Scott Bessent said on Friday that four government agencies favored putting Megaspeed, the Singapore company at the heart of the Nvidia scandal, on a trade black list, but not the Commerce Department.

Bessent said Treasury, the Pentagon, the State Department, and the U.S. Trade Representative's Office had favored adding Megaspeed to the Commerce Department entity list for months. "But Commerce has the pen," Bessent told CNBC's "Squawk Box." "You will have to ask them about their internal processes."

Asked whether he confronted Lutnick on the subject, Bessent replied, "We don't repeat conversations in the Situation Room."