Bessent says four US agencies backed blacklisting Singapore-based Megaspeed, but Lutnick's Commerce Department has yet to act amid concerns over Nvidia chip diversion to China. Treasury Secretary Scott Bessent is pointing the finger at Commerce Secretary Howard Lutnick over the Trump administration’s failure to place Nvidia customer Megaspeed on a U.S. Howard Lutnick, Trump’s commerce secretary, has agreed to testify before the Senate Banking Committee amid fallout from Nvidia’s spy scandal.