Bessent says Treasury favored limits on Megaspeed, decision up to Commerce
FROM THE WIRE · REUTERS.COM
Treasury Secretary Scott Bessent said on Friday his department had favored putting Singapore-based cloud computing firm Megaspeed on the US entity list for months but that it was up to the Commerce Department to act, adding that the FTC could possibly take other action.
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralPossible US restrictions on a Singapore cloud firm touch on tech trade and geopolitics.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Treasury Secretary Scott Bessent said his department favored putting Megaspeed on the entity list.
- 02He said it is up to the Commerce Department to act.
- 03He added that the FTC could possibly take other action.