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The Latest Breaking News from Commerce

U.S. gov't seizes $7.4 billion semiconductor research fund created under Biden admin, calling it 'illegal' — Lutnick says fund 'served as a semiconductor slush fund that did nothing but line the pockets of Biden loyalists with American tax dollars'

The US Commerce Department of the Trump administration has pulled back billions of dollars in funding for a non-profit aimed at promoting US chip design and fabrication, suggesting that its appointment under the Biden administration somehow made it inappropriate for distributing taxpayer funds.

Tom’s Hardware

US And Japan Set To Announce $550 Billion Mega Investment Deal, Says Howard Lutnick, But Tokyo Reportedly Resists Binding Terms

The U.S. government is preparing to formally announce a massive $550 billion investment from Japan this week, as stated by Commerce Secretary Howard Lutnick.

Benzinga

U.S. gov't will take a 9.9% ownership stake in Intel — Trump administration won't get a board seat and is set to serve as passive investor (Update)

The US government and Intel have come to a deal to give the US a 9.9% stake in the chipmaker's business.

Tom’s Hardware

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Trump says Intel agreed to give the government 10% of the chipmaker. ‘We do a lot of deals like that. I’ll do more of them’

Commerce Secretary Howard Lutnick previously said the U.S. government should receive equity in return for the CHIPS Act cash grants Intel has received.

Fortune

Howard Lutnick's 'Insulting' Words Trigger Backlash In Beijing As Regulators Pressure Alibaba, ByteDance To Shun Nvidia Chips: Report

Beijing has reportedly moved to curb sales of Nvidia Corporation's (NASDAQ:NVDA) China-specific AI chip after U.S. Commerce Secretary Howard Lutnick made remarks about export policy that Chinese officials reportedly found "insulting."

Benzinga

How once-iconic Intel fell into a 20-year decline

Its CEO is under fire. It has lost its edge. And it’s still the only U.S. company with the know-how to make leading-edge chips in America.

Fortune

Nvidia H20 GPUs reportedly caught up in U.S. Commerce Department's worst export license backlog in 30 years — billions of dollars worth of GPUs and other products in limbo due to staffing cuts, communication issues

The U.S. Commerce Department is so behind on approving export licenses that billions of dollars worth of GPUs and other products are stuck in limbo waiting to be shipped, in the worst case of license stalling in over 30 years.

Tom’s Hardware

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Cocoa Prices Sharply Lower on the Outlook for Adequate Supplies

September ICE NY cocoa (CCU25 ) on Friday closed down -274 (-3.22%), and September ICE London cocoa #7 (CAU25 ) closed down -165 (-2.92%). Cocoa prices settled sharply lower Friday as supply concerns eased on speculation that cocoa will be exempt from President Trump's tariffs. US Commerce Secretary Lutnick noted...

Barchart

Cocoa Prices Fall as Supply Concerns Recede

September ICE NY cocoa (CCU25 ) today is down -223 (-2.62%), and September ICE London cocoa #7 (CAU25 ) is down -150 (-2.65%). Cocoa prices are sharply lower today as supply concerns eased on speculation that cocoa will be exempt from President Trump's tariffs. US Commerce Secretary Lutnick noted earlier...

Barchart

Mark Cuban Says This Trump Administration Move Is 'One Of the Dumbest….'

Billionaire investor Mark Cuban blasted a Commerce Department plan under discussion to charge patent holders a percentage of their patent value, calling it "one of the dumbest ideas in the history of business."

Benzinga

Reduced Tariff Risks Weigh on Arabica Coffee

September arabica coffee (KCU25 ) on Wednesday closed down -3.10 (-1.05%), and September ICE robusta coffee (RMU25 ) closed up +66 (+1.97%). Coffee prices settled mixed on Wednesday, with robusta coffee climbing to a 2-week high. Arabica coffee was under pressure for a second day Wednesday after Commerce Secretary Lutnick...

Barchart

Arabica Coffee Slips as Brazil Tariff Fears Ease

September arabica coffee (KCU25 ) today is down -3.60 (-1.21%), and September ICE robusta coffee (RMU25 ) is up +59 (+1.76%). Coffee prices today are mixed, with robusta coffee climbing to a 2-week high. Arabica coffee is under pressure for a second day today after Commerce Secretary Lutnick said Tuesday...

Barchart

Trump has given Powell 'no motivation to cooperate' says former White House commerce secretary—he might now be paying the price for it

Trump's former commerce secretary, Wilbur Ross, tells Fortune that President Trump has given the Fed an unwinnable dilemma.

Fortune

Trump's Ex-Commerce Secretary Warns China Won't Bow To US Like EU, Japan: 'If There's A Real Trade War…'

Wilbur Ross, the former Commerce Secretary under President Donald Trump, has cautioned that the U.S.-China trade war is far from over, despite recent trade agreements with the EU and Japan.

Benzinga

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Fortune

Don't let EU, Japan deals lull you into a sense of security, says Trump's former commerce secretary—a trade war with China may still be in the cards

"We're in much better shape because it's now clear that if there's gonna be a real trade war with anyone, it would just be with China," Secretary Ross tells Fortune.

Benzinga

Trump Administration Weighs 'Paradigm Shift' In Patent System To Raise Billions In Revenue: Report

The Trump administration is contemplating a significant revamp of the U.S. patent system, which could potentially generate tens of billions of dollars in revenue.

Benzinga

Howard Lutnick Says Chip Import Probe Results Due In 2 Weeks As Trump Threatens New Tariffs To Force US Manufacturing Boom

On Sunday, Commerce Secretary Howard Lutnick said the U.S. will announce the results of its semiconductor import probe in two weeks.

Benzinga

Commerce Secretary Howard Lutnick Dismisses 'Silly' Concerns Of US Automakers Over Japan Trade Deal, Says They're 'Cool' With It

The U.S. Commerce Secretary Howard Lutnick has disclosed that American auto CEOs are in favor of President Donald Trump’s new trade deal with Japan.

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Al Jazeera

Fact check: Could Trump’s trade tariffs pay off the US deficit?

Commerce Secretary Howard Lutnick says tariffs will plug US finances, but experts say it’s unlikely.

PC Gamer

Trump's AI action plan claims to chart 'a decisive course to cement US dominance in artificial intelligence'

"We are moving with urgency to make this vision a reality."

The Independent UK

Trump’s Treasury Secretary suggests August 1 trade deal deadline doesn’t matter one day after Commerce Secretary calls it a ‘hard deadline’

Tariffs as high as 40 percent on U.S. trading partners could take effect on August 1

Benzinga

Howard Lutnick Says Trump's August 1 Tariff 'Hard Deadline' Is Final — Smaller Nations Face 10% Base Rate

On Sunday, Howard Lutnick, the Commerce Secretary, stated that August 1 is the “hard deadline” for countries to begin paying tariffs to the United States.

PC Gamer

The US squeezed Nvidia's AI chip export deal with China into negotiations over important rare earth elements, bizarrely claiming 'we put that in the trade deal with the magnets'

Ah, it's "leaving important bits out" day.

Al Jazeera

Trump slaps 17 percent tariff on tomatoes from Mexico

US Commerce Secretary Howard Lutnick says US farmers have been ‘crushed’ by unfair trade practices.

Roll Call

FBI headquarters fight stymies spending bill in Senate - Roll Call

Plans for Senate appropriators to approve a Justice Department funding bill collapsed over the location of a new FBI headquarters.

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