White House / President·China / Export controls

Update: Bessent reportedly confronted Lutnick in the Situation Room over delays in blacklisting Megaspeed, the chip firm tied to the Huang spy scandal

Published 5:10 PM CT, Friday, November 13, 2026 · Updated 5:16 PM CT
In the 5 PM CT update

Treasury Secretary Scott Bessent confronted Commerce Secretary Howard Lutnick over why Singapore-based Megaspeed International had not been put on the Commerce Department's Entity List despite President Trump approving action in May, August and last Thursday, Fox News reported, citing Axios. Megaspeed executive Alice Huang is the suspected Chinese spy with whom former Nvidia CEO Jensen Huang admitted an affair; Trump reportedly told the group "Let's get it done." A Commerce spokeswoman told Fox the two departments "have a great working relationship" and said Lutnick will appear before the Senate Banking Committee at a hearing scheduled for Dec. 10.

• Howard Lutnick
• Scott Bessent
• Megaspeed
• Entity List
• Export controls
• Nvidia
• Jensen Huang
• China
• Commerce Department
• National security
• AI chips