The Latest Breaking News from Commerce Department

The U.S. economy shrank for the first time since 2020, reflecting an import surge tied to solid consumer demand.

The U.S. economy unexpectedly shrank last quarter, the first contraction since 2020, as a ballooning trade deficit and softer inventory growth belied an otherwise solid consumer and business demand picture.

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A US probe into whether Chinese solar-panel manufacturers are circumventing tariffs will slash expected domestic installations by 46% this year and next, according to a Washington-based advocacy group.

A United States Commerce Department trade probe that could result in tariffs against solar imports from Southeast Asian nations, including Thailand, is already threatening clean energy projects, according to an advocacy group fighting the investigation.

The U.S. Commerce Department on Thursday confirmed it had identified seven Boeing 737 Planes operated by Belarusian national carrier Belavia that are in apparent violation of U.S. export controls.

Record high gas prices and the fastest inflation in forty years continue to hold back consumer spending, with March retail sales slowing from their February levels.

The US government has banned exports to Russian state airline Aeroflot as well as two other carriers for flying aircraft in violation of sanctions, the Commerce Department said Thursday. Washington warned last month that the carriers had gone against penalties imposed on Moscow over its invasion of Ukraine by flying…

Washington (AFP) - The US government has banned exports to Russian state airline Aeroflot as well as two other carriers for flying aircraft in violation of sanctions, the Commerce Department said Thursday.

The Biden administration is moving to choke off U.S. exports to three Russian airlines as part of what officials described as an unprecedented enforcement action

Asian stock markets are lower after Chinese manufacturing weakened and Russian shelling around Ukraine’s capital shook hopes of progress in peace talks