U.S. pushes to blacklist Megaspeed
U.S. Treasury Secretary Scott Bessent stated that the Treasury Department has supported adding Singapore-based cloud services provider Megaspeed to the U.S. export restriction blacklist for months.
Speaking to CNBC, Bessent said the Treasury, War, and State Departments, along with the Office of the U.S. Trade Representative, share the same position on the matter. However, he noted that the final decision rests with the Commerce Department's Bureau of Industry and Security. Addressing reports of disagreements with Commerce Secretary Howard Lutnick over Megaspeed's exclusion from the blacklist, Bessent emphasized that coordination among government agencies remains ongoing.
Bessent reiterated U.S. President Donald Trump's position that Nvidia chips more advanced than the H100 model should not be sold to China, calling for stricter enforcement of existing export restrictions. Arguing that significant loopholes remain in the transfer of advanced chips to China, Bessent stressed the need to investigate whether Nvidia has been selling products to shell companies. His remarks followed the launch of an independent investigation by Nvidia's board into foreign intelligence allegations involving former CEO Jensen Huang and Huang's subsequent departure from his positions. The U.S. administration continues its efforts to tighten controls on technology exports to China.