CBS News reported Friday, citing a U.S. official, that Howard Lutnick, secretary of the U.S. Department of Commerce, agreed to testify before the Senate Banking Committee as lawmakers examine suspected Nvidia chip exports to China.
Republicans are pressing for an explanation of why Singapore-based Megaspeed International was not added to the U.S. government's Entity List sooner, CBS reported. A designation would constrain Megaspeed's ability to obtain advanced AI chips, the outlet said. The U.S. government suspects the company arranged for advanced Nvidia chips to reach China despite a U.S. export ban, CBS reported.
Treasury Secretary Scott Bessent said Treasury, War and State, together with the U.S. Trade Representative, had favored adding Megaspeed to the list for months, CBS reported. In comments to CNBC on Friday, Bessent said, “Commerce has the pen,” and directed questions about the department's internal process to Commerce.
The committee had already requested Lutnick's testimony for December and invited former Nvidia CEO Jensen Huang. EconoTimes previously covered the committee's request for Lutnick's testimony and invitation to Huang. CBS reported, citing a U.S. official, that Lutnick's appearance is scheduled for Dec. 10.
