On November 11, President Trump authorized a crackdown on companies suspected of diverting advanced Nvidia AI chips to China after consulting Elon Musk. Treasury Secretary Scott Bessent confronted Commerce Secretary Howard Lutnick over delays in applying export controls to Megaspeed. The defense and state secretaries and the U.S. Trade Representative joined the Situation Room confrontation, unanimously backing Bessent. After Lutnick said he needed to check with the president, an immediate 5 p.m. Oval Office meeting was set to resolve the matter; sources said Lutnick had previously met privately with Trump to persuade him to change his position on export limits.
Axios linked the authorization to a dispute within the administration over export controls, while a senator sought an update on the Megaspeed investigation and set November 24 as the response deadline.
Read the full story