Scott Bessent Says Howard Lutnick’s Commerce Department Failed to Restrict Megaspeed
WSJ Minute Briefing

Scott Bessent Says Howard Lutnick’s Commerce Department Failed to Restrict Megaspeed

B2Upper-intermediateNovember 13, 20261 min
  • News bulletin
  • Business & money

Plus: Fed Chairman Kevin Warsh cuts the number of interest-rate decisions for the next two years. And new Labor Department data shows inflation remains hot. Alex Ossola hosts. Sign up for WSJ’s free What’s News newsletter. An artificial-intelligence tool assisted in the making of this episode by creating summaries that were based on Wall Street Journal reporting and reviewed and adapted by an editor. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for...

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I'm Alex Ocela for The Wall Street Journal.

act to restrict Singapore-based Megaspeed International over concerns that it was helping

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B2 · Upper-intermediate

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0:00

Here's your midday brief for Friday, November 13th. I'm Alex Ocela for The Wall Street Journal. Treasury Secretary Scott Besant says Howard Lutnick's Commerce Department failed to act to restrict Singapore-based Megaspeed International over concerns that it was helping

0:18

China evade export controls on Nvidia chips. In an interview with CNBC Today, Besant said his department and other agencies backed restricting the firm for months, but the decision to do so was up to commerce. Senator Tim Scott has asked both Lutnik and former NVIDIA CEO Jensen Wang to testify

0:34

before the Senate Banking Committee over national security concerns related to Wang's affair with a megaspeed executive suspected of working for Chinese intelligence. A spokeswoman for the Commerce Department didn't immediately respond to requests for comment.

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