A post by @FirstSquawk on X.
BESSENT ON ENTITY LIST SAYS TREASURY WAS IN FAVOR OF PUTTING MEGASPEED ON FOR MONTHS; COMMERCE DID NOT ADD MEGASPEED TO EXPORT CONTROL LIST
@FirstSquawk on X
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Treasury Secretary Bessent said the Treasury had favored adding Megaspeed to the entity list for months, but the Commerce Department did not place the company on the export control list. The disclosure, reported via First Squawk, points to a split between the two agencies over restricting the firm. The decision leaves Megaspeed off the Commerce Department's restricted-party roster despite Treasury's backing. The episode matters because entity-list designations determine which companies face U.S. export licensing requirements. What to watch next is whether Commerce revisits Megaspeed's status or explains its rationale for holding off.
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Named in this story
Bessent, Megaspeed, US Treasury, US Commerce Department