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The Latest Breaking News from Commerce

Companies Seeking CHIPS Act Subsidies Are Encouraged To Double-Dip

At least a dozen states have beefed up targeted incentives to coincide with handouts from the Commerce Department.

Reason

Military pay, typically exempted during shutdowns, is at risk - Roll Call

This year, a vulnerable House GOP incumbent is leading the charge to ensure the troops get paid on time if funding lapses on Oct. 1.

Roll Call

Out of the classroom and into Hansard: Maitland students witness historic budget speech

A quick schedule shuffle and the Year 10 Commerce class were suddenly witnessing history.

Newcastle Herald

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Prices of 20 essential items likely to be cut

The government is likely to start reducing the prices of 20 essential items next month, Commerce Minister Phumtham Wechayachai said on Wednesday.

Bangkok Post

US names former commerce secretary, big Democrat donor to coordinate private sector aid for Ukraine

The Biden administration has tapped former Commerce Secretary and major Democratic donor Penny Pritzker to coordinate U.S. efforts to channel private sector reconstruction assistance to Ukraine

The Independent UK

Biden names Penny Pritzker to lead U.S. in forging Ukraine’s economic recovery

President Biden said Pritzker will work in ‘lockstep’ with the Ukraine government.

Chicago Sun-Times

China uses bizarre memes of US commerce boss to plug new phone

‘No commerce secretary has been tougher than I on China,’ Raimonda says in altered video on Chinese TV

The Independent UK

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G20 summit: Xi Jinping’s 'no-show' marks shift from statesman to China ‘emperor’

BEIJING: President Xi Jinping began his third term with a diplomatic blitz that bolstered his image as a global statesman. Now, he’s set to skip the world’s premier international forum of world leaders — and it’s not exactly clear why.

The Times of India

India will play an important role in trade realignment globally: Former U.S. Assistant Commerce Secretary Arun Kumar

India can play a pivotal role in global manufacturing post-pandemic, says Arun Kumar, former US Assistant Sec. of Commerce. He envisions a world where nations have learnt from the havoc wreaked by centralising manufacturing in China. His new book, The Global Trade Paradigm, explores how to rethink international business.

The Hindu

US commerce secretary warns China will be 'uninvestable' without action on raids, fines

Commerce Secretary Gina Raimondo says she warned Chinese leaders that U.S. businesses might stop investing in their country without prompt action to address complaints about worsening conditions due to raids on firms, unexplained fines and unpredictable official behavior

The Independent UK

Shanghai Composite Index Ended Nearly Flat on Wednesday

Shenzhen Component Index closed up 0.26%

Caixin Global

Biden’s commerce chief just denied the U.S. is breaking up with China and then listed all the ways it’s doing exactly that

In Beijing this week, Gina Raimondo kept insisting the U.S. and China aren’t headed for a decoupling, but then she got into the details.

Fortune

US commerce secretary says companies see China as ‘uninvestable’

Gina Raimondo is fourth senior US official to visit China in recent months as two countries seek to manage tensions.

Al Jazeera

US commerce secretary Gina Raimondo: American firms see China becoming uninvestible

Commerce secretary Gina Raimondo said US companies tell her that China is becoming increasingly “uninvestible” because of growing risks to doing business in the world’s second-biggest economy.

The Times of India

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The Independent UK

Top Chinese official tells the US commerce secretary he's ready to improve cooperation

The top Chinese official in charge of economic relations with Washington has told Commerce Secretary Gina Raimondo he's ready to “make new positive efforts” to improve cooperation following an agreement to reduce trade tension

Fortune

Billions of dollars are flowing out of Chinese markets in a ‘seismic’ change in capital flows despite a flurry of actions to shore up confidence

“China has now seen consistent and large outflows for the past 18 months, as investors grow wary of autocracies,” IIF chief economist Robin Brooks wrote in a Sunday post.

Al Jazeera

US commerce secretary visits China, calls for ‘stable’ ties

Gina Raimondo says ‘profoundly important’ for two biggest economies to have a stable relationship.

France 24

Top US and Chinese commerce officials agree to discuss trade conditions

Commerce Secretary Gina Raimondo said she and her Chinese counterpart agreed Monday to exchange information on U.S. export controls that frustrate Beijing and set up a group to discuss other commercial issues, but neither side appeared ready to make concessions on disputes that have plunged relations to their lowest level…

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The Independent UK

Top US and Chinese commerce officials express support for better trade conditions

U.S. Commerce Secretary Gina Raimondo and her Chinese counterpart have expressed support for improving trade conditions as Raimondo begins a visit to Beijing as part of U.S. efforts to improve chilly relations

The Independent UK

Biden's commerce secretary is the latest Cabinet member to visit China in a bid for improved ties

Commerce Secretary Gina Raimondo is the latest member of President Joe Biden’s Cabinet to visit China as his administration tries to mend the deteriorating ties between the world’s two largest economies

WEKU

How high tensions between China and the U.S. are impacting American companies

Commerce Secretary Gina Raimondo is set to travel to China at a time when U.S. executives and investors are facing increasing uncertainty and risk doing business there.

Roll Call

At the Races: Prime time fault lines? - Roll Call

The CQ Roll Call newsroom tracks campaigns nationwide, sharing the best stories, with some extras, in the At the Races newsletter.

Radio France Internationale

No explanation after China's Xi Jinping misses key speech at Brics summit

Chinese President Xi Jinping unexpectedly skipped a speech he'd been due to give at the Brics summit in South Africa – instead sending his commerce minister to speak about the strength of the Chinese economy and to denounce wealthy nations who seek to contain the growth of developing ones.

Caixin Global

U.S. Eases Export Restrictions on 27 Chinese Entities

The Commerce Department says end-use checks had been successfully conducted, ahead of Secretary Gina Raimondo’s visit to China later this month

WEKU

The U.S. imports most of its solar panels. A new ruling may make that more expensive

The Commerce Department says solar panel makers in four Southeast Asian countries are evading U.S. duties on Chinese solar components. The finding could raise costs in the United States.

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