Now Reading: Bessent says Commerce held back MegaSpeed curbs
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Bessent says Commerce held back MegaSpeed curbs
The Story in Brief
US Treasury Secretary Scott Bessent said the Treasury, War, State and US Trade Representative had for months supported placing Chinese firm MegaSpeed on the Entity List, but the Commerce Department's Bureau of Industry and Security had not acted. Speaking to CNBC on Friday, 13 November 2026, Bessent said Commerce ‘has the pen’ on export decisions, and the Treasury’s OFAC has no authority. He added the FTC could potentially act.
Bessent also questioned whether Nvidia had adequate safeguards to prevent its chips reaching China through shell companies, calling the leakages ‘a lot’. He said anyone at Nvidia found responsible should be held accountable. The remarks publicly air a rift with Commerce Secretary Howard Lutnick. The White House has publicly backed Lutnick, per a statement on Thursday, 12 November 2026. MegaSpeed denies the allegations and says it is considering legal action.
Indian Opinion Analysis
All three outlets report Bessent’s central charge that Commerce did not act despite multi-agency support for the MegaSpeed listing. CnbcTV18 and Hindustan Times carry his full rationale, including his views on Nvidia safeguards and chip leakage, while Times of India leads with his ‘lots of leakage’ remark, framing the story more sharply around Bessent ‘slamming’ Nvidia and Lutnick. Hindustan Times alone adds the White House’s public backing for Lutnick and the CNN report that some Trump advisers question Lutnick’s position, providing the most complete picture of the internal rift. The coverage is uniformly neutral-report in tone. The open question is whether the Commerce Department will act on MegaSpeed or whether Bessent’s public pressure shifts the internal dynamic.
Coverage: 3 sources, 3 neutral
Sources (3): cnbctv18.com (neutral report), timesofindia.indiatimes.com (neutral report), hindustantimes.com (neutral report)
This brief was synthesised by AI from the 3 sources linked above, so one read covers every framing they carry. Methodology and corrections.
Update, 13 November 2026: this story now draws on 3 sources.
