The Latest Breaking News from Commerce Department

Lutnick’s Anthropic crackdown claims new power over AI models

The US government has taken an unprecedented step, using export control laws to restrict foreign access to advanced AI models from Anthropic. This move, citing national security concerns over potential 'jailbreaks,' has sparked debate about government intervention in AI development and usage. Industry experts warn this could lead to broader…

The Economic Times · Jun 20

US awards $500 million to Nvidia-backed SandboxAQ for finding new chipmaking materials

America is investing heavily in its chip industry. The US government has given a massive $500 million to SandboxAQ. This company will develop new chemicals and materials for making computer chips right here in America. The goal is to reduce reliance on foreign supplies for crucial components.

The Economic Times · Jun 17

US holds off blacklisting China's DeepSeek, more than 100 firms deemed security risks, sources say

DeepSeek, CXMT and other companies were approved by an interagency committee last year for addition to the Commerce Department's Entity List, which is being ​reported for the first time. Reuters is also exclusively reporting the large number of companies awaiting publication on the list.

The Economic Times · Jun 17

Increased Demand For U.S. Oil Amid Iran War Gives Trade Balance a Boost in April

The U.S. trade deficit narrowed sharply in April as exports climbed to a record high.

International Business Times · Jun 9

Bipartisan AI draft proposes three-year preemption of state laws

Another artificial intelligence regulation framework has joined the growing ranks on Capitol Hill, this time focused primarily on model safety and workforce impacts. Reps. Jay Obernolte, R-Calif., and Lori Trahan, D-Mass., unveiled their long-expected framework as a discussion draft bill on Thursday. Notably, it includes a three-year preemption of state…

Roll Call · Jun 4

Bernie Sanders' AI Wealth Fund Bill Shows That He Doesn't Understand AI or Wealth

Sanders' plan would impose a one-time tax of 50 percent of AI companies' stock and give the government voting shares and the power to block corporate decisions.

Reason · Jun 2

US takes step to halt Nvidia AI chip shipments to Chinese firms outside China

The unexpected guidance suggests the United States' ‌best AI chips ⁠may ⁠have been making their way to the subsidiaries of Chinese AI firms based in places like ​Malaysia for almost a year despite broader US efforts to starve Chinese firms of ​semiconductors needed to develop critical AI capabilities.

The Economic Times · Jun 1

Americans Are Spending Faster Than They Earn As Savings Rate Falls, Figures Show

Consumer spending rose in April even as disposable personal income fell, suggesting many Americans are no longer spending from strength but from savings.

International Business Times · May 29

Key Inflation Gauge Hits Three-Year High As Prices Increase Across Different Sectors Of The Economy

The Commerce Department said Thursday that the personal consumption expenditures price index rose 3.8% in April from a year earlier, up from 3.5% in March and the highest annual increase since May 2023.

International Business Times · May 28

Key inflation gauge worsens as Americans' income and spending power erodes

A key inflation gauge accelerated in April to the highest level in three years, the latest sign that spiking gas prices and higher food costs are squeezing Americans' finances

AAP · May 28