> European companies face “devastating” retaliation from Washington if Brussels presses ahead with plans to restrict American rivals such as Elon Musk’s SpaceX from parts of the European market, the US ambassador to the EU has warned.

> Andrew Puzder’s warning comes after the European Commission this year proposed reserving part of its spectrum band that allows smartphones to connect directly to satellites for European players. That would limit the frequencies for Chinese and US companies such as SpaceX, which operates the Starlink satellite network.

> Asked whether European companies should fear retaliation, Puzder told the FT that they “should be wary that it could happen and it would be very devastating for those companies”, given the size of the American market.

Eh, this seems like a fairly even tit-for-tat, for once.