SPCX ▼ -2.2% - Space Exploration Technologies Corp. U.S. Ambassador to the EU Andrew Puzder warned European companies could face “devastating” American retaliation if Brussels restricts satellite spectrum access for non-EU firms, including Elon Musk’s ($SPCX)  SpaceX. * EU proposal: Brussels wants to reserve frequencies used for direct-to-smartphone satellite connections for European providers, limiting access for U.S. and Chinese competitors. * U.S. warning: Puzder said restrictions could trigger damaging retaliation against European businesses, given their dependence on the American market. * Starlink impact: SpaceX warned the proposal could weaken connectivity in Ukraine, where Starlink supports civilian and military communications. * Broader tensions: Puzder criticized EU cloud sovereignty rules and multibillion-euro technology fines, warning they could discourage U.S. investment. * EU response: The European Commission said its proposal supports domestic competition while remaining open to non-EU operators. Puzder urged cooperation against China in AI and quantum computing. 18-OCT-2026 01:39 PM ET