The Latest Breaking News from Commerce Department

'Warning Sign': Experts React To Surprise 1.4% Drop In US GDP

The SPDR S&P 500 ETF Trust (NYSE: SPY) traded higher by 2.1% on Thursday after the Commerce Department said U.S. GDP declined 1.4% in the first quarter.

Benzinga · Apr 28, 2022

US economy posts surprise contraction with trade gap surging

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.

Tribune News Service · Apr 28, 2022

US economy posts surprise contraction, belying solid consumer picture

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

Tribune News Service · Apr 28, 2022

US Bans Exports to Three Russian Airlines for Sanctions Violations

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…

Asharq Al-Awsat · Apr 8, 2022

US moves to choke off exports to 3 Russian airlines

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

The Independent UK · Apr 7, 2022

Asian stocks fall after China manufacturing weakens

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

The Independent UK · Mar 31, 2022

Vietnamese carmaker to build electric vehicles in N Carolina

A Vietnamese automaker has announced plans to build a plant in North Carolina to manufacture electric vehicles, promising to bring 7,500 jobs

The Independent UK · Mar 29, 2022

US to consider tariffs on solar imports from Thailand, 3 other SE Asian countries

US trade officials on Monday said they will launch an investigation that could result in tariffs on solar panels imported from four Southeast Asian nations, a blow to clean energy project developers that rely on cheap imports to keep costs down.

Bangkok Post · Mar 28, 2022

Commerce inquiry imperils solar industry, advocates say

The Commerce Department says it is investigating whether imports of solar panels from Southeast Asia are circumventing anti-dumping rules that block imports from China

The Independent UK · Mar 28, 2022

U.S. targets Abramovich plane, 99 others over Russia export violations

The U.S. Commerce Department on Friday moved to effectively ground 100 airplanes that have recently flown to Russia and are believed to violate U.S. export controls, including a plane used by Russian businessman Roman Abramovich.

Reuters · Mar 18, 2022