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The Latest Breaking News from the Commerce Department

Bipartisan AI draft proposes three-year preemption of state laws

Another artificial intelligence regulation framework has joined the growing ranks on Capitol Hill, this time focused primarily on model safety and workforce impacts. Reps. Jay Obernolte, R-Calif., and Lori Trahan, D-Mass., unveiled their long-expected framework as a discussion draft bill on Thursday. Notably, it includes a three-year preemption of state…

Roll Call

Bernie Sanders' AI Wealth Fund Bill Shows That He Doesn't Understand AI or Wealth

Sanders' plan would impose a one-time tax of 50 percent of AI companies' stock and give the government voting shares and the power to block corporate decisions.

Reason

US takes step to halt Nvidia AI chip shipments to Chinese firms outside China

The unexpected guidance suggests the United States' ‌best AI chips ⁠may ⁠have been making their way to the subsidiaries of Chinese AI firms based in places like Malaysia for almost a year despite broader US efforts to starve Chinese firms of semiconductors needed to develop critical AI capabilities.

The Economic Times

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Americans Are Spending Faster Than They Earn As Savings Rate Falls, Figures Show

Consumer spending rose in April even as disposable personal income fell, suggesting many Americans are no longer spending from strength but from savings.

International Business Times

Key Inflation Gauge Hits Three-Year High As Prices Increase Across Different Sectors Of The Economy

The Commerce Department said Thursday that the personal consumption expenditures price index rose 3.8% in April from a year earlier, up from 3.5% in March and the highest annual increase since May 2023.

International Business Times

Key inflation gauge worsens as Americans' income and spending power erodes

A key inflation gauge accelerated in April to the highest level in three years, the latest sign that spiking gas prices and higher food costs are squeezing Americans' finances

AAP

Trump Admin Officials Reportedly Tried To Ban Half Of U.S. Voting Machines Over Conspiracy Claims

The effort was reportedly led by Kurt Olsen, President Donald Trump's election-security adviser, who asked whether the Commerce Department could classify components in Dominion machines as national security risks.

International Business Times

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Trump Admin Pushed to Strip Voting Machines From Half of America Before the Midterms

A White House adviser attempted to ban Dominion Voting Systems machines in over half of US states, citing debunked conspiracy theories. The plan, lacking evidence, ultimately failed.

International Business Times UK

U.S. Economy Expands By 2% In First Quarter But Iran War Muddies The Outlook

The U.S. economy expanded by 2% in the first quarter of the year, rebounding after the last three months of last year's 0.5% increase.

International Business Times

Only 1 'Trump Gold Visa' Approved Despite $1.3 Billion 'Sold' - Here's What We Know

Trump's Gold Card visa program, promising expedited US residency for financial contributions, faces scrutiny with only one approval despite over $1 billion in sales.

International Business Times UK

Lutnick urges boost for trade enforcement at BIS

The Commerce Department says it needs additional funds in fiscal 2027 to enforce export controls and prevent the diversion of semiconductors to China and other foreign adversaries. Testifying Thursday before the House Commerce-Justice-Science Appropriations Subcommittee, Commerce Secretary Howard Lutnick said investment in new law enforcement agents at the Bureau of…

Roll Call

Trump considers a taxpayer takeover of Spirit Airlines and would aim to resell carrier after oil prices drop

‘I think we just buy it,’ Trump told reporters in the Oval Office on Thursday

The Independent UK

Scoop: Top U.S. cyber agency doesn't have access to Anthropic's powerful hacking model

CISA is not on the list of more than 40 organizations with access to Anthropic's Mythos Preview.

Axios

US economy grew a sluggish 0.5% in fourth quarter, government says, downgrading previous estimate

The American economy, slowed by last fall’s 43-day government shutdown, grew at a sluggish 0.5% annual pace from October through December, the Commerce Department reported Thursday in downgrade of its previous estimate

The Independent UK

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Axios

Anthropic withholds Mythos Preview model because its hacking is too powerful

This is the one of the first times an AI company has held back a model over societal risks.

Tom’s Hardware

US gov't revokes controversial AI hardware export rule that would mandate investments from foreign companies — new export rules are still in the works, though

U.S. Department of Commerce withdraws draft export rule for AI accelerators that would give the U.S. government ultimate power over export controls and mandate investments of foreign firms in the U.S. AI sector.

The Independent UK

US economy expanded at sluggish 0.7% in fourth quarter, government says, downgrading first estimate

The U.S. economy, hobbled by last fall’s 43-day government shutdown, advanced at a sluggish 0.7% annual rate from October through December, the Commerce Department reported Friday in a big downgrade of its initial estimate

Axios

Nvidia and AMD chips could be subject to U.S. approvals for foreign sales

Such a requirement would add a layer of bureaucracy to foreign sales of chips from U.S. chipmakers.

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The Independent UK

US economy grows at 1.4% rate in fourth quarter, a dramatic slowdown

A downturn in government and consumer spending contributed to the slowdown in fourth-quarter growth

The Independent UK

Immigrant rights groups seek to dismiss a Republican lawsuit to exclude noncitizens from US census

Immigrant rights groups are seeking to toss out a Republican lawsuit that would prohibit the U.S. Census Bureau from counting people who are in the U.S. illegally during the 2030 census

The Independent UK

Republican lawmaker demands Howard Lutnick resign from Trump’s cabinet over Epstein ties

The recent alleged revelations in the Epstein files contradict previous claims that Lutnick cut ties with the disgraced financier a long time ago

Barchart

A $3 Billion Reason to Buy This Rare Earths Stock

USA Rare Earth is a critical metals mining company forecast to expand at a rapid pace, driven by U.S. government investments.

The Independent UK

Trump administration cuts number of sites for testing the 2030 census, focusing on the South

The Trump administration is eliminating four out of six planned locations for a 2030 census practice test

The Independent UK

Trump signs executive order to curtail state AI laws

This move contrasts with calls from members of Congress who have advocated for greater oversight of the powerful technology

The Independent UK

Aficionados fret as Trump moves to make pasta great again

The U.S. Commerce Department has launched an antidumping review targeting Italian pasta, claiming it’s sold below market prices

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