Sen. Michael Bennet, a Colorado Democrat, is asking the Trump administration for an update on its investigation of Singapore-based Megaspeed, Semafor reports. His letter went to the State, Commerce and Justice departments and the director of national intelligence.
Bennet also asked officials to consider penalties against the company and stronger export controls. The inquiry has drawn scrutiny amid reports that Commerce referred it to the Justice Department, while Commerce is reportedly resisting other agencies’ calls to add Megaspeed to a trade blacklist. The reports cite an alleged Chinese spy among Megaspeed’s executives; the investigation’s outcome is not stated.
Why it matters
For companies trading in goods subject to US export controls, any new restrictions on Megaspeed could affect enforcement; Bennet’s request does not establish that penalties or a blacklist will follow.
