Bessent hints at discord between Treasury and Commerce departments over advanced chip exports Scott Bessent, the US Treasury secretary, said today that “for months” he has been in favor of putting Megaspeed, the data company whose executive is an alleged Chinese spy, on a trade blacklist to prevent Nvidia from exporting advanced chips to Beijing. However, Bessent said this has stalled because “trade [department] “You’ll have to ask them about their internal process,” the Treasury secretary added in an interview with CNBC on Friday. Earlier this week, Axios reported that Bessent allegedly confronted Howard Lutnick, the Commerce Secretary, over his failure to put Megaspeed on the trade blacklist in the White House Situation Room. However, speaking to CNBC, Bessent declined to comment on the meeting. “We do not repeat conversations in the Situation Room,” he said. he said.ShareUpdated at 2:19 p.m. GMTkey developmentsLutnick to testify about Nvidia fallout in DecemberAs I noted previously, calls for Howard Lutnick to appear before lawmakers on Capitol Hill have been answered. According to multiple reports, the Commerce Secretary has “proactively agreed to voluntarily appear” before the Senate banking committee on December 10 to discuss his relationship with former Nvidia CEO Jensen Huang and any delays in preventing Megaspeed from purchasing considerable sums of Nvidia’s advanced chips. ShareBessent hints at discord between Treasury and Commerce departments over advanced chip exports Scott Bessent, the US Treasury secretary, said today that “for months” he has been in favor of putting Megaspeed, the data company whose executive is an alleged Chinese spy, on a trade blacklist to prevent Nvidia from exporting advanced chips to Beijing. However, Bessent said this has stalled because “trade [department] “You’ll have to ask them about their internal process,” the Treasury secretary added in an interview with CNBC on Friday. Earlier this week, Axios reported that Bessent allegedly confronted Howard Lutnick, the Commerce Secretary, over his failure to put Megaspeed on the trade blacklist in the White House Situation Room. However, speaking to CNBC, Bessent declined to comment on the meeting. “We do not repeat conversations in the Situation Room,” he said. he said.ShareUpdated at 14:19 GMT While we bring you the latest on the ramifications of Jensen Huang’s resignation, my colleague Jonathan Freedland has a broader discussion about Donald Trump’s decision to continue defending men facing a lot of pressure, from Huang to embattled Defense Secretary Pete Hegseth, Trump has also (jokingly) begged strongmen to accept his job offers. On this week’s episode of Politics Weekly America, Jonathan speaks with him. The New Yorker’s Susan Glasser on why Trump’s judgment of high-profile men is… questionable. Why the Nvidia cheating scandal is bad for Trump | Politics Weekly AmericaShareCommerce Secretary to Testify on Capitol Hill About Nvidia Fallout There has been a wave of calls from Republican lawmakers in Congress for Commerce Secretary Howard Lutnick to testify on Capitol Hill, following the resignation of Jensen Huang as CEO of Nvidia. Tim Scott, the Republican senator and chairman of the banking committee, has sent a letter to Lutnick, asking him to appear before his committee to discuss national security concerns about chip export regulations in light of Huang’s relationship with data company executive and alleged Chinese spy Alice Huang (no relation to Jensen). This also comes amid a New York Times report that the Commerce Department, under Lutnick’s leadership, has taken a more relaxed stance on Nvidia’s advanced chip sales to Asia given Lutnick’s close relationship with Huang. Earlier this week, the Times reported that a Commerce Department investigation into whether Alice Huang’s company Megaspeed was smuggling Nvidia chips to China withered after an intervention by Nvidia’s general counsel. Share Updated at 14:20 GMT Donald Trump is in Washington today and will remain in the capital throughout the weekend. You’ll spend the day in closed-door meetings on Friday, but we’ll let you know if anything opens up and we’ll hear from the president in person. Share Updated at 13:23 GMTJD Vance and 2028: To show up or not? Will JD Vance run for president in 2028? It’s a question that seems to have two quite different answers, depending on which media outlet you read. Based on interviews with about a dozen people close to the US vice president, CNN reported that his path to the Republican nomination has become less certain following the political fallout from the Republicans’ disappointing performance in the midterm elections. A source said: “I wouldn’t be surprised by any decision he makes.” does.” The same source noted that, at 42, Vance has plenty of time to run for president in the future, adding: “It may not be his time.” US Vice President JD Vance spoke at an event in New Bern, North Carolina, on Thursday. Photograph: Matt Rourke/Pool AP/APA The central concern appears to be the consequences of Trump’s war with Iran. As one Vance ally put it: “The question is not whether JD can do it. It’s: If the Iran war continues, can any Republican do it? “If they don’t end the war in Iran, no Republican has a chance of making it to 2028.” While CNN painted a picture of a vice president seriously weighing his options, the Washington Post offered a different perspective. In its report, based on conversations with more than a dozen people in Vance’s orbit, the newspaper said he was more likely to run than not. A person close to Vance said: “Two years is an eternity in politics, and people are too easily prisoners of the moment.” The Post reported on another notable point: the double quotes. Vance’s goal has long been to create “the right enemies” and he is doing so now, another ally said. ShareUpdated at 12:58 GMTLex McMenaminDozens of protesters from the Sunrise Movement, a youth climate organization, were arrested after staging a sit-in inside the Washington DC office of Senate Minority Leader Chuck Schumer on Thursday. According to the Sunrise Movement, 54 people were arrested, among a few hundred who joined the protest from across the country, including some from New York, which Schumer represents. On their Instagram, the group is raising funds for $24,000 to cover bail costs and possible legal fees for those arrested. Protesters from the Sunrise Movement, a group advocating for action on climate change, near Chuck Schumer’s office in Washington DC on Thursday. Photograph: Jim Watson/AFP/Getty ImagesCapitol Police were not immediately available for comment. In a clip on the Sunrise Movement’s Instagram, with more than 40,000 likes at the time of publication, young people sitting on the office floor chanted, “Hey, hey, ho, ho, Schumer has to go!” Protesters, including children, held signs that read “The filibuster kills,” “Stop the climate crisis” and “Schumer: Step up or step aside.” seen by many people in his state as a “polarizing” and “divisive” figure. “What I would be looking for is a leader who can lead from the center,” he told NBC on Sunday. “Someone who can unite Republicans and Democrats, someone who can unite the different factions of the Democratic Party. Someone with fresh ideas. “No disrespect to Chuck Schumer, it just seems like this is a time for new, fresh ideas and someone who can unite us instead of dividing us.” Sen. Elissa Slotkin of Michigan has also made it clear that she does not support Schumer as a leader. Elissa Slotkin speaks at a press conference with Bernie Sanders about the upcoming Senate Democratic leadership race, in the US Capitol in Washington DC on Tuesday. Photograph: Nathan Posner/Anadolu/Getty Images “I think whoever wants to run this caucus should come up with a plan for how they’re going to govern differently, what they’re going to do in the first 100 days to put money in people’s pockets and then, in particular, how they’re going to communicate differently,” Slotkin said on Tuesday, adding that she herself was not actively seeking the position Speaking alongside her at the joint press conference, Senator Slotkin said: Vermont independent Bernie Sanders, who “I have personally known Chuck Schumer for over 30 years and I like Chuck. No one works harder than Chuck Schumer,” Sanders said. “But in my opinion, now is the time for change and I will not support Chuck to be re-elected as Democratic leader.” 11.44 GMTVan Hollen takes aim at Schumer as Democrats face first big test after midterm victories. Good morning and welcome to the US politics live blog. Just a week after achieving a surprising midterm victory, Democrats have found themselves facing an entirely different battle, one within their own ranks Maryland Senator Chris Van Hollen has launched a challenge to New York’s Chuck Schumer for the top Senate Democratic leadership position. Announcing his decision during an interview with MS Now last night, Van Hollen argued that the results of last week’s midterm elections showed that Americans wanted fundamental change in Washington, and that Democrats needed new leadership to achieve it. Chris Van Hollen said he is challenging Chuck Schumer to be Senate majority leader in the next Congress. McNamee/Getty Images He said: double quotes We saw a huge explosion of democracy on Election Day (red states, blue states, purple states) and it was not just a rejection of Donald Trump and his corruption and his wars and his cruelty, but also a call for greater change, to confront a broken economic system that is rigged in favor of the very rich against workers, and is driven by a corrupt political system The call was to reject the status quo and reject business as usual, and to achieve that, I think. “We need new leadership.” His challenge came just days after Democrats secured control of the Senate, winning at least 55 seats in what has been a remarkable election cycle for the party. Winning the leadership race requires a majority of the caucus, about 28 or 29 senators, with an election scheduled for next month. The caucus votes behind closed doors via secret ballot, but Van Hollen told MS Now he had the support of “more than 10” Democratic senators. Progressive heavyweight Bernie Sanders, an independent senator from Vermont who caucuses with Democrats, has already publicly stated that he will not support Schumer, saying that “the time is now for change.” Endorsing Van Hollen, Sanders said: “The American people voted for change. They want a Democratic Party that takes on powerful special interests, stands up to the billionaire class, and fights for working families.” Incoming Democratic Sen. Abdul El-Sayed of Michigan also openly endorsed Van Hollen, saying he was “proud to support him as he seeks to lead our Senate majority.” The American public spoke clearly last week. They rejected Trumpism. But we still have to earn our mandate. That will require bold leadership. I called [Van Hollen] lead our caucus as a candidate in April because he does so with courage and experience. We need both right now.” In response to Van Hollen’s leadership bid, Schumer, who has led Senate Democrats since January 2017, said he welcomed “a discussion about the future of our caucus and the important work ahead,” but that he had the votes to be re-elected as leader.
