The Latest Breaking News from Commerce

The U.S. and China have finalized a trade understanding, building on an agreement reached last month in Geneva. Commerce Secretary Howard Lutnick confirmed the deal, which was signed two days ago, noting that the White House has immediate plans to secure agreements with ten other major trading partners.

President Trump holds a veto power on specific matters and has the right to appoint an independent director as part of the Nippon Steel takeover.

The Trump administration is scoring wins with its new foreign policy, says Wilbur Ross, but runs the risk of getting overconfident because of its successes.

Refrigerators, freezers, dishwashers, washing machines, and dryers are among the products subject to the president’s 50 percent tariff on imports derived from aluminum and steel.

"In history the senators always had a big voice in tariffs—so far he hasn't given them any voice, and there's always the danger that they will suddenly start to exert a voice," Wilbur Ross tells Fortune.

"When you think about it, in the normal course, getting quietly to do a 10% tariff on everything from everywhere was a huge achievement," Wilbur Ross tells Fortune.

News of the talks comes a day after Trump spoke with Chinese leader Xi Jinping

A Senate committee's decision to tie a moratorium on state regulation of AI to the federal broadband expansion program is raising questions.

‘We cannot build bananas in America,’ commerce secretary reminded in surreal exchange at House hearing on Donald Trump’s tariff policy

Trump administration denies ethane exports to China in trade war escalation.

Social media users shared dread online after a Trump official insisted that steel needs to be produced locally in order for the U.S. to be able to fight a war.