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The Latest Breaking News from Commerce

Biden administration aims to stop China, Russia from using chip funding

WASHINGTON — The U.S. Commerce Department released proposed guidelines Tuesday to prevent China, Russia, Iran and North Korea from benefiting from $52 billion in federal funding for semiconductor chip production.

Tribune News Service

TikTok Hits 150 Mln US Monthly Users, Up from 100 Million in 2020

TikTok said on Monday the short-video sharing app now has 150 million monthly active users in the United States, up from 100 million it said it had in 2020. The Chinese-owned app confirmed the figure ahead of TikTok CEO Shou Zi Chew's testimony set for Thursday before the House Energy…

Asharq Al-Awsat

Biden has big ideas for fixing child care. For now a small workaround will have to do

The administration is turning to semiconductors in the hopes of expanding affordable child care.

WEKU

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Rep. Harold Rogers brings influence to appropriations role - Roll Call

Republican Rep. Harold Rogers, a longtime influential appropriator, is now chairman of the Commerce-Justice-Science spending subcommittee.

Roll Call

COVID-19 origins probe plods on with no clear resolution

WASHINGTON — Republicans are continuing the search for answers on the origins of the SARS-CoV-2 virus, but the path forward is mired in stalled investigations, classified documents and stonewalling from the Chinese government.

Tribune News Service

Biden expected to tighten rules on US investment in China

The Biden administration is close to tightening rules on some overseas investments by American companies

The Independent UK

Biden’s FAA nominee faces military waiver challenge

WASHINGTON — Following a contentious hearing over President Joe Biden’s nominee to lead the Federal Aviation Administration, two Republicans lawmakers say they will oppose a waiver they contend is needed to allow the confirmation to move forward.

Tribune News Service

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Biden’s FAA nominee faces military waiver challenge - Roll Call

Republicans in the House and Senate say they will oppose a waiver to allow the confirmation of President Biden’s FAA nominee to move forward.

Roll Call

Ministry preps mini-FTA with Shenzhen

The Commerce Ministry on Wednesday clinched a memorandum of understanding to form a deeper trade partnership through a mini-free trade agreement (mini-FTA) with Shenzhen in China, aiming to grow trade between Thailand and the southeastern metropolis by 5% to 910 billion baht in 2024.

Bangkok Post

US govt to chip makers: Share profits if you want subsidies

The plan requires firms that want subsidies to share future profits with government and provide childcare for employees.

Al Jazeera

Commerce Department launches applications for chips funding

WASHINGTON — The U.S. Commerce Department opened applications Tuesday for $39 billion in funding for semiconductor chip manufacturing, kicking off unprecedented federal spending in the tiny component that's crucial for modern technology and vehicles.

Tribune News Service

Billions to spur US semiconductor manufacturing comes with strings attached

WASHINGTON – The Commerce Department is preparing to dole out $39 billion in semiconductor manufacturing incentives, an initiative expected to bring more factories – and jobs – to the U.S.

Tribune News Service

FCC’s spectrum auction authority nears March expiration

WASHINGTON — The top Republican and Democrat on the House Energy and Commerce Committee are working to avert a lapse next month in the Federal Communications Commission’s authority to auction spectrum as Congress seeks a more lasting plan that could pay for a number of telecommunications priorities.

Tribune News Service

Commerce Dept. issuing aid to build computer chip plants

The Commerce Department is opening the application process for computer chip manufacturers to access $39 billion in government support to build new factories and expand production

The Independent UK

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Bangkok Post

Exports of rice likely to keep growing

Demand for Thai rice in the international market remains strong, with Commerce Minister Jurin Laksanawisit expecting the country's exports to potentially increase to 8 million tonnes this year.

Newsroom.co.nz

Reserve Bank would back a Commerce Commission probe into bank profits

Some retirees could face a cold and hungry winter, as costs rise and banks slow-pedal their term deposit interest rates. It's allowing the big banks to maintain high margins and send record dividends back to their Australian owners. Jonathan Milne reports.

Tribune News Service

US lawmaker concern over Mexico steel revives Trump-era conflict

WASHINGTON — Steel is threatening to become the latest area of commercial conflict between the U.S. and Mexico after a bipartisan group of U.S. lawmakers called on the Biden administration to restore Trump-era tariffs if necessary to stem a surge in imports.

Reuters

Pakistan seeks breakthroughs in high-level U.S. trade talks

Pakistan is looking for breakthroughs in agriculture and information technology during the first ministerial level meeting of a U.S.-Pakistani trade and investment body in seven years, Pakistan's commerce minister said on Tuesday.

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Axios

House GOP's overlapping COVID investigations

House Republicans overlapping COVID investigations

Ballotpedia

Michigan Democrats seek to repeal law prohibiting public employees from being required to pay union fees

Fifty-one Democratic members of the Michigan House of Representatives and all 20 Democratic senators are sponsoring companion bills that would repeal a section of law prohibiting public employees from being required to pay union fees.

Tribune News Service

Little-noticed US funding for China tech sector now draws scrutiny

WASHINGTON — Even as Washington takes a hard line on keeping U.S. technology and data beyond China’s reach, the federal government has thus far been slow to close another channel of technology assistance: potentially billions of dollars in U.S. investment in Chinese tech startup companies.

Roll Call

Little-noticed US funding for China tech sector now draws scrutiny - Roll Call

Even as Washington tries to safeguard US technology from China, venture capitalists are funding Chinese tech startups.

Bangkok Post

Jurin optimistic on trade bonanza from UAE venture

Commerce Minister Jurin Laksanawisit is scheduled to lead delegations from the government and private sector to visit the United Arab Emirates (UAE) during Feb 6-7, with a goal to raise Thai exports to the UAE by up to 30 billion baht this year.

Axios

House Science Committee chair looks to make NOAA an independent agency

NOAA has always been an awkward fit in the Department of Commerce.

Bangkok Post

Thai-EU deal edges closer as Jurin flies in

Commerce Minister Jurin Laksanawisit will lead Thailand's trade negotiating team to Brussels on Wednesday to rev up negotiations on a free-trade agreement (FTA) with the EU, with the joint political will likely to be agreed upon and announced during the two-day official visit.

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