Lutnick stalled Trump crackdown on diversion of Nvidia chips to China, Axios reports Reuters Wed, November 11, 2026 at 4:20 PM EST 1 min read NVDA +3.17% Trade NVIDIA on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
WASHINGTON, Nov 11 (Reuters) - US Commerce Secretary Howard Lutnick stalled President Donald Trump's crackdown on companies suspected of diverting Nvidia's chips to China, Axios reported on Wednesday, citing high-level sources.
Trump on Thursday authorized a crackdown on companies suspected of diverting the chips for the third time this year, Axios reported, adding that the Republican president consulted billionaire Elon Musk before giving the go-ahead.
But Axios reported Lutnick has repeatedly stood in the way.
Lutnick met in the Situation Room on Thursday with US Treasury Secretary Scott Bessent, Defense Secretary Pete Hegseth, Trade Representative Jamieson Greer and Secretary of State Marco Rubio.
During the meeting, Bessent confronted Lutnick about resistance from his department on implementing the export controls. Lutnick appeared to agree but said he needed to check with Trump, according to Axios.
(Reporting by Costas Pitas and Daphne Psaledakis; Editing by Caitlin Webber)
