Treasury Secretary Scott Bessent says the Commerce Department, led by Howard Lutnick, has stalled adding Singapore‑based Megaspeed to the U.S. export blacklist despite support from the Treasury, Pentagon, State Department and USTR. Megaspeed, an Nvidia customer, is accused of routing $7.5 billion of advanced AI chips to China, a claim the company denies. The Justice Department is probing the firm, and senior White House officials are debating whether Lutnick should be removed.
Shenzhen
6 stories since 5 November 2026, newest first
14 November 2026
President Donald Trump will not mention the alleged Chinese espionage involving Alice Huang during his upcoming meeting with Xi Jinping at the APEC summit in Shenzhen. The decision follows Jensen Huang's resignation as Nvidia chief executive after more than three decades, amid reports of multiple affairs, including one with Alice Huang, a former Megaspeed International executive suspected by U.S. intelligence of links to China's Ministry of State Security. Beijing denies the spy allegations, while Nvidia has hired the law firm Wachtell, Lipton, Rosen & Katz to investigate. The APEC summit runs for four days in Shenzhen.
The three leaders convene on Thursday in Shenzhen during the APEC summit, marking the first ever United States‑Russia‑China trilateral meeting. President Donald Trump plans to raise nuclear‑arsenal reduction and the war in Iran, while officials say the conflict in Ukraine will not be on the agenda. Separate diplomatic tracks continue between Washington, Kyiv and Moscow aimed at ending the Ukraine war. A senior administration official expects no formal agreement to emerge from the talks.
9 November 2026
US President Donald Trump says he expects to meet Chinese President Xi Jinping and Russian President Vladimir Putin on the sidelines of the APEC summit in Shenzhen, China, on 18–19 Nov, and that the talks could cover denuclearisation, the Russia-Ukraine war and the war in Iran. China's foreign ministry says it is in communication with relevant parties about the meeting and does not rule it out, while the Kremlin says the three leaders are preparing for it. The Wall Street Journal reports that US, Chinese and Russian officials have not agreed on the structure or agenda of a three-way summit. Trump and Xi are also set to meet bilaterally at the APEC gathering, their third encounter this year. Experts describe the meeting as potentially historic but unlikely to yield substantive agreements.
7 November 2026
Nvidia's board has opened an independent investigation into CEO Jensen Huang after reports that he had an affair with Alice Huang, a Singapore-based Megaspeed executive whom U.S. intelligence services link to Beijing's espionage. Nvidia shares fell more than 4 percent on Monday, 9 Nov, and kept declining on Tuesday. President Donald Trump said the FBI is investigating, and no one has been charged. Nvidia said it has no reason to believe national security or company secrets were compromised. The company has retained former acting U.S. Attorney Joon H. Kim to lead the inquiry.
5 November 2026
Democrats won control of the House of Representatives and the Senate in the US midterm elections, a result that sends a message calling for a check on President Donald Trump's power. Vice President JD Vance said voter opposition to the war with Iran caused the Republican loss, and Trump said he largely agrees. The Iran conflict began after US-Israeli airstrikes in late February 2026 and has cost at least $38 billion and killed 19 Americans. Trump said he would soon decide whether to make a deal with Tehran or order new strikes, and he called Qatar's emir to discuss ending the conflict.