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The Latest Breaking News from Commerce

New Income Tax Proposal Is Progressive and Unworkable

Commerce Secretary Howard Lutnick says the Trump administration wants to eliminate income taxes for those making $150,000 or less—an unprecedented shift with major consequences.

Reason

Trump’s Latest Pitch: No Taxes If You Earn Less Than $150K?

The Trump administration reportedly wants to eliminate taxes for certain earners.

Kiplinger

Trump to ‘deal with’ TikTok ahead of April deadline, Commerce Secretary vows

ByteDance has until April 5 to either divest from TikTok or see its platform banned from American app stores. It’s hazy if Trump will extend the deadline

The Independent UK

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Dollar General CEO makes grim admission amid Trump’s trade war

The CEO of Dollar General has admitted that the chain is “not anticipating improvement” for core customers in 2025, amid President Donald Trump’s ongoing foreign trade wars.

The Independent UK

Commerce Secretary Howard Lutnick blasts Canada for ‘tone deaf’ tariff response and praises the UK and Mexico for not retaliating

Lutnick also criticized Canada because it contributes less to NATO than the U.S.

Fortune

Trump’s commerce secretary desperately spins dire economic forecast on Fox: ‘It’s not that bad!’

‘I've watched your show all along, I don't remember you saying, 'Oh my God!' No, come on! America is awesome!’ Howard Lutnick told Maria Bartiromo on Friday

The Independent UK

Two Texans in Congress defend CHIPS Act in the face of Trump’s criticism

Although the president has said he wants to “get rid of” the act, Rep. Michael McCaul and Sen. John Cornyn say it supports jobs and national security.

The Texas Tribune

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Tariffs are ‘worth it’ even if they cause a recession, claims Commerce secretary

Howard Lutnick hails Trump’s tariffs as revenue generators. What he failed to mention is that American consumers pay the extra revenue

The Independent UK

Ontario Premier Walks Back 25% Electricity Hike For U.S. Exports After Trump's Revenge Tariffs

Ontario Premier Doug Ford said he will suspend its 25% surcharge on electricity exports to three U.S. states after having a conversation with Commerce Secretary Howard Lutnick

Latin Times

Dave Portnoy claims White House reached out to hire him for Commerce Department job

Portnoy, who has been a consistent and vocal supporter of Trump, made the claim in a video posted on X

The Independent UK

Trump's tariff and cuts chaos 'rattles even Republican-leaning small firm bosses' as US stocks fall

The US president has doubled his planned tariffs on all imports of steel and aluminum products from Canada to 50%

Evening Standard

Trump has made clear to the cabinet that ‘Elon is your partner,’ Commerce Secretary Howard Lutnick says

Despite reports of ill-tempered exchanges between Elon Musk and cabinet members in a Thursday meeting, Lutnick said that the secretaries still “want his help.”

Fortune

Commerce Secretary Lutnick says most tariffs on Canada, Mexico likely to be delayed a month

U.S. Commerce Secretary Howard Lutnick said Thursday in a television interview that President Donald Trump will “likely” suspend the 25% tariffs on Canada and Mexico for most products and services for a month, broadening an exemption that was granted on Wednesday only to autos

The Independent UK

$BTC Climbs On News Trump Will Announce Bitcoin Reserve At Crypto Summit

Bitcoin pumped Wednesday night after Commerce chief Howard Lutnick said he is expecting a U.S. strategic Bitcoin reserve to be announced at the first White House crypto summit on Friday.

International Business Times

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International Business Times

US Signals Possible Exemptions In Canada, Mexico Tariffs

US Commerce Secretary Howard Lutnick said an announcement on Canada and Mexico tariffs was expected later Wednesday, signaling potential relief for specific sectors such as automobiles, a day after the steep levies took effect.

International Business Times

US Official Says Possible Canada, Mexico Tariff Relief On 'Categories'

Latin Times

Howard Lutnick Seems to Walk Back Trump's Hard Stance of Tariffs And Meet Canada, Mexico 'In Middle Some Way'

U.S. Commerce Secretary Howard Lutnick anticipated the possibility that President Donald Trump will announce a reduction of tariffs on Canada and Mexico

Fortune

Trump may roll back Mexico and Canada tariffs as soon as today

Commerce Secretary Howard Lutnick hinted President Trump is already considering tariff concessions.

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Barchart

S&P Futures Climb on Hints of Tariff Compromise, U.S. ADP Jobs Report in Focus

March S&P 500 E-Mini futures (ESH25) are trending up +0.73% this morning, rebounding from yesterday’s losses after U.S. Commerce Secretary Howard Lutnick said the Trump administration might dial down some trade tariffs.

Fortune

‘This game of chicken has to stop’

Also: Buffett and Bessent disagree on tariffs, Chipotle CEO will try not to increase prices after tariffs.

Top News

Government Spending And GDP Separation Proposal Sparks Economic Debate

Commerce Secretary proposes separating government spending from GDP reports for enhanced economic measurement and stability.

International Business Times

Commerce Secretary Lutnick Pushes For 'Transparent' GDP Calculation By Removing Government Spending

Howard Lutnick's remarks came in response to concerns over whether the spending cuts advocated by Elon Musk's Department of Government Efficiency (DOGE) might lead to a recession.

Fortune

Trump is still mulling over new Canada and Mexico tariffs with deadline looming, Howard Lutnick says

Secretary Lutnick hedged his bets about the economic sanctions being leveled against Canada and Mexico from tomorrow—and refused to rule out a 25% import duty.

The Independent UK

The Trump administration may exclude government spending from GDP, obscuring the impact of DOGE cuts

Commerce Secretary Howard Lutnick says he could take government spending out of his agency's reports on gross domestic product

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