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The Latest Breaking News from the Commerce Department

US Trade Gap Swells In 2024 As Deficits Under Fresh Scrutiny

The US trade gap swelled last year to nearly $920 billion, according to government data released Wednesday, as deficits come under the spotlight with President Donald Trump's return to the White House.

International Business Times

Social policy cuts likely from swath of tech initiatives - Roll Call

Commerce secretary nominee Howard Lutnick may cut tech initiative spending such as semiconductor subsidies or broadband expansion.

Roll Call

Senate panel advances Lutnick for Commerce secretary - Roll Call

The Senate Commerce, Science and Transportation Committee advanced Howard Lutnick’s nomination to lead the Commerce Department.

Roll Call

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Billionaire Lutnick To Sell Business Holdings, Support Tariffs

Howard Lutnick, potential Commerce Secretary, supports Trump's trade policies, plans to divest business interests, and survived 9/11.

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

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

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International Business Times

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.

The Independent UK

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

Reason

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.

International Business Times

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.

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Reason

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.

Top News

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...

Roll Call

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.

Fortune

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.

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.

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