Bessent Faults Commerce Department Over Delayed Megaspeed Sanctions

Treasury Secretary Scott Bessent criticized the Commerce Department for failing to blacklist a firm over AI chip diversions.

Treasury Secretary Scott Bessent criticized the Commerce Department for delaying export restrictions on Megaspeed. Multiple agencies supported placing the firm on a trade blacklist months ago, but enforcement stalled due to cabinet inaction. The dispute exposes deep administration rifts over technology security ahead of a presidential meeting.

• The delaySeveral government agencies supported putting the firm on the entity list months prior to the public fallout.
• The frictionTreasury officials argued that export control decisions rest with the Commerce Department despite interagency agreement.
• The contextThe debate follows scrutiny over advanced processor diversions and high-profile executive departures within the semiconductor sector.

What's new · 15h agoTreasury Secretary Scott Bessent publicly named the Commerce Department and Howard Lutnick during media appearances to criticize the ongoing delay in implementing export restrictions.

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