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Bessent says US agencies backed curbs on MegaSpeed, but Commerce Department held back

News Snapshot:

US Treasury Secretary Scott Bessent said the Treasury Department, along with the departments of War and State and the US Trade Representative (USTR), had supported placing MegaSpeed on the Entity List for months, but the Commerce Department had not acted on the proposal.The remarks come amid reports of tensions between Bessent and Commerce Secretary Howard Lutnick over the decision. Speaking to CNBC, Bessent said the Commerce Department's Bureau of Industry and Security (BIS) had the authority to decide whether to add the company to the list."Treasury, War, USTR, and State were in favor of putting MegaSpeed on the Entity List…

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