Bessent puts Megaspeed heat on Lutnick: "Commerce has the pen"

Treasury Secretary Scott Bessent highlighted the Commerce Department's authority in enforcing national security measures, emphasizing they "have the pen" to act on companies like Megaspeed, which is suspected of illegally shipping U.S. chips to China. This signals ongoing tension between Bessent and Commerce Secretary Howard Lutnick, who has faced criticism for not taking decisive action against Megaspeed. The implications are significant as the situation underscores the urgency of addressing potential security breaches involving U.S. technology.