Bessent blames US Commerce Department for not restricting Nvidia chip exports to China

US Treasury Secretary Scott Bessent criticized the Commerce Department for not preventing the export of advanced AI chips to China via a company called Megaspeed, which is believed to be an intermediary for Nvidia. This comes ahead of a crucial meeting between President Trump and President Xi Jinping, highlighting the ongoing tensions over technology transfer and national security. Bessent's comments underscore the administration's focus on curbing China's access to cutting-edge technology, which is seen as vital for maintaining U.S. economic and strategic superiority.