EconomyUnited States

Bessent says Commerce, not Treasury, blocked Megaspeed blacklisting

US Treasury Secretary Scott Bessent said his department backed putting Megaspeed International on a trade blacklist, and blamed the Commerce Department for not doing so.

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Scott Bessent said his department had supported adding Megaspeed International to a trade blacklist for a long time. He said the decision rested with Howard Lutnick, the Commerce Secretary, and that four US executive departments wanted the company placed under export controls, but Commerce blocked the move.

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