China warns against new U.S. export controls on chips in wake of Nvidia

China urges stable trade relations

China warned Friday against additional U.S. controls on semiconductor exports following the scandal surrounding Nvidia and its now-former CEO, Jensen Huang. Chinese official Mao said the two countries should act on agreements reached by their leaders and preserve stable economic and trade relations.

Questions over chip oversight

Critics also say Lutnick failed to stop Nvidia chips from being diverted to China. Republican lawmakers are pushing for Huang and Lutnick to appear before Congress amid the controversy.

Dispute over Megaspeed listing

Bessent said his department, the Defense Department, the State Department and the U.S. trade representative all backed adding Megaspeed to the Entity List. He said those agencies had supported the move for months. Bessent said the Commerce Department’s Bureau of Industry and Security controlled the process, adding that questions about its internal procedures should be directed there.

Intelligence claims reported

The New York Times reported last month that President Trump was briefed about a year earlier on intelligence suggesting Alice Huang was a Chinese asset. The report said he chose not to act on the information.

The Times also reported that U.S. officials circulated a memo last spring alleging Alice Huang was a spy for China’s Ministry of State Security. These are reported intelligence allegations.