US Treasury Secretary Bessent said that they have been in favor of blacklisting Megaspeed for months

US Treasury Secretary Scott Bessent made evaluations about the economic agenda in his interview with CNBC television.

When asked about the news about the tension with the US Secretary of Commerce Howard Lutnick regarding Singapore-based cloud services provider Megaspeed not being included in the "Entity List" and the coordination between the institutions, Bessent said, "I can say that coordination between the institutions has been achieved. The Treasury Department, the War Department, the US Trade Representative Office and the Ministry of State have been in favor of Megaspeed being included in the Entity List for months. However, the Ministry of Commerce's Bureau of Industry and Security is authorized on this issue. You will have to ask them questions about their internal processes." he said.

Reminding that US President Donald Trump clearly stated that China should not purchase chips more advanced than Nvidia's H100 model, Bessent said that the transfer of chips to China harms the position of US companies in the artificial intelligence race and provides an advantage to China.

Bessent stated that the Treasury Department's Office of Foreign Assets Control (OFAC) does not have authority on such export-related issues, and that the decision should be made by the Bureau of Industry and Security under the Department of Commerce, and that the Federal Trade Commission can also add it to its restrictive list.

Stating that the US Treasury Department and the deputy secretary have been making efforts for months to include the company in question, Bessent noted that they have all the authorities they need to make export restrictions stricter, but they just need to be implemented.

Bessent stated that there are significant leaks in the system regarding the transfer of chips to China and that they are constantly working to prevent them.

Stating that the news on the subject has so far focused on the personal issues of Nvidia's former top manager Jensen Huang, Bessent emphasized that the main issue is whether Nvidia knows its customers well enough and whether it makes serious efforts to ensure that there are no leaks.

Bessent stated that it should be examined whether Nvidia sells to front companies used as intermediaries and stated that it is important for everyone in the company who is responsible for this issue to be held accountable.

Nvidia Board of Directors announced in a statement on November 8 that an independent investigation was launched following the news that Jensen Huang was the target of foreign intelligence activity.

The investigation was launched following reports that Jensen Huang had a close relationship with a Chinese businessman who was alleged to have passed information to the Beijing administration.

In the news published in The New York Times, it was claimed that Alice Huang, the former manager of Megaspeed, who was stated to have a close relationship with Huang, was operating on behalf of Chinese intelligence and passing information to the Beijing administration.

Nvidia announced yesterday that Huang resigned from his duties as president, senior manager and board member with immediate effect, and that Colette Kress, the company's vice president and chief financial officer, was appointed as interim CEO.