Articles for tag: Business, China, International Trade, Technology, Trade, US Politics, USA

Close-up of semiconductor wafer on dicing tape showing individual chips ready for packaging

Bessent Blames Lutnick as Megaspeed Loophole Lets Nvidia Chips Reach China

For companies building AI infrastructure, the public clash between Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick isn’t Washington theater — it’s a signal that the export control regime meant to keep advanced chips from China has a single point of failure: the Commerce Secretary’s discretion. On Nov. 13, Bessent went on CNBC and ...

Team CruxBuzz

The Federal Aviation Administration air traffic control tower at Minneapolis-St. Paul International Airport against a clear blue sky

FAA Ground Stop: All US Airports Halt Departures After Air Traffic Control Communication Failure

The Federal Aviation Administration ordered a rare nationwide ground stop at every U.S. airport on Friday afternoon, halting all departing flights after a communication failure hit multiple air traffic control centers. The advisory told operators that “all departing traffic should remain ground stopped until further notice.” Inbound international flights would be “managed on a case ...

Team CruxBuzz

Exterior of the Herbert C. Hoover Building in Washington, D.C., the headquarters of the U.S. Department of Commerce, with its long colonnaded facade and American flags

Bessent Blames Lutnick’s Commerce Department for Failing to Blacklist Megaspeed

Treasury Secretary Scott Bessent on Friday publicly blamed Commerce Secretary Howard Lutnick’s department for failing to place Megaspeed, a China-linked data company, on the export-control blacklist, widening the public split inside the Trump administration over the Nvidia chip scandal. Megaspeed is the Singapore-based firm at the center of the affair that forced Jensen Huang to ...