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The Latest Breaking News from the Commerce Department

US Economy Grows At 3.1% In Third Quarter

American economy grew by 3.1% in Q3 driven by consumer spending and exports, with concerns over inflation and recent political developments.

Top News

As Trump 2.0 looms, Taiwan’s chip industry braces for upheaval

Trump’s return casts doubt on Joe Biden’s signature initiative providing billions in funding to semiconductor firms.

Al Jazeera

Retail sales surge tests bets on more Fed rate cuts in 2025

A record spending tally over the Thanksgiving weekend helped power retail sales firmly past Wall Street forecasts.

The Street

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US Firms Up $6.2 Bn Micron Funding To Boost Chipmaking

US President Joe Biden's administration finalized nearly $6.2 billion in funding for Micron Technology on Tuesday, firming up a deal to boost domestic semiconductor production before Donald Trump returns to the White House.

International Business Times

US Trade Deficit Narrows In October As Imports Fall

The US trade gap narrowed more than expected in October, government data showed Thursday, as imports slipped more than exports.

International Business Times

China stacked the deck against Augusta-made golf carts. Here’s what America did about it

"We’re glad to see the U.S. Department of Commerce take a stand for American manufacturers and workers."

USA Today Sports Media Group

US Unveils Fresh Export Curbs Targeting China's Chip Sector

The United States announced new export restrictions Monday taking aim at China's ability to make advanced semiconductors -- used in weapon systems and artificial intelligence -- as competition deepens between the world's two biggest economies.

International Business Times

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US economy grows at 2.8% pace in third quarter on consumer spending, unchanged from first estimate

The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of third-quarter growth

The Independent UK

Trump's Tariffs Are Already Creating Jobs—in Lobbying

The president-elect's first term turned lobbying into a growth industry, and he looks poised to do it again.

Reason

US Fed's Favored Inflation Gauge Ticks Up In October

US inflation -- set to be a key issue for incoming president Donald Trump -- accelerated slightly last month, according to data published Wednesday, underscoring price pressures in the world's largest economy.

International Business Times

Abolish the Commerce Department

Donald Trump has tabbed Howard Lutnick to be the next secretary of the Department of Commerce. He should also be the last.

Reason

Howard Lutnick Nominated As Commerce Secretary By President-Elect Trump

President-elect Trump nominates Howard Lutnick, Cantor Fitzgerald CEO, as Commerce Secretary. Lutnick's background in finance and philanthropy prepares him...

Top News

Lutnick tapped to lead Commerce Department under Trump 2.0 - Roll Call

President-elect Donald Trump chose billionaire Howard Lutnick, co-chair of his transition team, to lead the Commerce Department.

Roll Call

Commerce Department finalizes $6.6 billion in chips subsidies for TSMC

Only about 10% of the world’s semiconductors are manufactured in the U.S.

Fortune

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The Independent UK

Americans continue to spend despite naming the economy and inflation as top election concerns

A 1.6% jump in sales at auto dealers drove much of the gain of consumer spending in October

International Business Times

US Restricts TSMC's Export Of Advanced Chips To China: Report

The new order, set to take effect on Monday, comes weeks after TSMC notified the Commerce Department that one of its chips had been found in a Huawei AI processor.

Tom’s Hardware

US Congressman accuses SMIC of making 7nm chips for China, violating U.S. sanctions

Michael McCaul accuses SMIC of evading U.S. sanctions, helping Huawei, calls for investigation and more stringent export controls.

International Business Times

Trump's Top Contenders to Lead His Next Situation Room, According to Reports

A long standing list of individuals Donald Trump and his personnel operations team are considering for appointments in the West Wing and the Situation Room.

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International Business Times

US Fines Chipmaker $500,000 For Selling To Blacklisted Chinese Company

GlobalFoundries sent SJ Semiconductor 74 shipments worth $17.1 million without seeking a license, the Commerce Department said.

International Business Times

US Fed's Favored Inflation Gauge Cools In September

The US Federal Reserve's preferred inflation measure cooled further last month and now sits just above its long-term target, according to government data published Thursday, shortly before the presidential election.

The Street

Biden's China EV policy may be a nail in Tesla rival's coffin

The embattled EV automaker faced de-listing from the NASDAQ earlier this year.

International Business Times

Sales Of New US Homes At Highest Level In Over A Year

Sales of new homes in the United States last month exceeded analyst expectations Thursday, logging the fastest pace in more than a year on the back of cooler mortgage rates.

RideApart

U.S. Seeks to Ban Powersport Manufacturer CFMoto, Just Like TikTok and Others

Last week, the Commerce Department proposed new rules that would ban "connected vehicles" with ties to China and Russia by model year 2027.

International Business Times

Inflation Continues To Cool, Paving Way For More Interest Rate Cuts

The Federal Reserve's preferred inflation measure rose just 0.1% in August, according to Commerce Department data

The Street

Biden plan to purge auto tech from China might actually hurt Detroit

The Commerce Department's proposed new ruling may have stark consequences for domestic automakers.

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