Technology and Scienceupdated 11m ago2 min read
Howard Lutnick Faces Scrutiny After Jensen Huang Resigns From Nvidia
“Treasury, War, USTR [U.S. Trade Representative] and State … were in favor of putting Megaspeed on the entity list for months,”
“‘Howard was given the memo. He ignored the memo,’ a second source said.”
This article is an automated aggregation of coverage from news outlets. Our editorials offer in-depth analysis curated by the NewsCord team.
Lutnick faces mounting congressional and Treasury scrutiny over handling of Nvidia export controls. The Nvidia-Megaspeed affair ties Lutnick to a national security controversy affecting Trump administration.
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Lutnick, Huang, and Megaspeed
Howard Lutnick faced intense scrutiny after Jensen Huang resigned from Nvidia, with the CNN account tying the fallout to what “some Trump advisers see as inaction in placing limits on US chip exports to China” and to Lutnick’s role in cultivating Huang as a top administration ally. Jensen Huang said on Joe Rogan’s podcast last December that Lutnick called him and his company “a national treasure,” and Huang remembered Lutnick’s message as “whenever you need the president, call us.”
Treasury Secretary Scott Bessent said on CNBC’s “Squawk Box” that “Treasury, War, USTR, and State … were in favor of putting Megaspeed on the entity list for months,” while Commerce had the final say. Bessent added that “Commerce has the pen, Commerce BIS has the pen,” and he told viewers to “ask them about their internal processes.”
Congress demands answers
House Foreign Affairs Committee Democrats wrote to Lutnick demanding to know what he and his export control chief, Jeffrey Kessler, knew about Megaspeed, and Senate Democrats directed Lutnick to preserve documents, communications and records related to Nvidia’s exports of advanced chips.
Sen. Chris Van Hollen told ABC News in an interview that aired Sunday, “I think he should be fired,” while Sen. Jim Banks said Thursday on Fox News, “When you’re in a war with another country, you don’t give them your best technologies.”
Senate Banking Committee Chairman Tim Scott requested that Huang testify December 3 and Lutnick December 10 over national security concerns involving the chipmaker.
The Commerce secretary agreed to appear before the Senate Banking Committee, chaired by Sen. Tim Scott (R-S.C.), on Dec. 10, and Scott wrote that the matter involved “significant national security and economic interests at stake and the need for timely, substantive engagement with Congress.”
Tariffs, export controls, and risk
Newsweek said Lutnick’s potential departure could reshape Trump’s tariff strategy by shifting influence over tariffs toward U.S. Trade Representative Jamieson Greer, while Jeffrey Schott told Newsweek that Lutnick’s replacement might implement the policy more forcefully.
“Was there some type of quid pro quo there?”
Newsweek also reported that Huang resigned Thursday after 33 years leading Nvidia, following revelations about extramarital relationships, including one involving a Chinese businesswoman suspected by U.S. intelligence officials of working for Beijing.
The Jerusalem Post said members of Congress planned a potentially bipartisan investigation into the Trump administration’s handling of the Nvidia scandal, including why Lutnick decided not to blacklist tech companies suspected of smuggling Nvidia chips to China.
Rep. Stephen F. Lynch asked, “Was there some type of quid pro quo there?” as he described the House oversight committee’s plan to investigate national security questions tied to the scandal.