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The Latest Breaking News from the Commerce Department

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

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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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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

The Independent UK

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.

International Business Times

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.

Tom’s Hardware

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.

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.

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.

International Business Times

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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

InsideEVs

U.S. Chinese Car Tech Ban Will Hit General Motors And Ford Too

A Biden administration official said the rules proposed on Monday will amount to a total ban on vehicles from China.

Top News

US Commerce Department Proposes Ban On Chinese, Russian Smart Vehicle Tech

US Commerce Department proposes ban on smart vehicles using Chinese or Russian technology over national security concerns. Effort to secure US-China comput...

The Independent UK

Ban sought for Chinese, Russian software and hardware used in autonomous vehicles on US roads

A ban on the sale of connected and autonomous vehicles in the U.S. that are equipped with Chinese and Russian software and hardware is being sought by the U.S. Commerce Department, with the stated goal of protecting national security and U.S. drivers

International Business Times

US Set To Announce Planned Ban On Chinese Vehicle Technology: Report

The Commerce Department is expected to unveil the proposed prohibitions on Monday, following an investigation ordered by President Joe Biden.

Tom’s Hardware

Intel cleared to get $3.5 billion to make advanced chips for Pentagon — Secure Enclave program ushers leading-edge CPUs to the military

Intel will get a $3.5 billion federal grant to make chips for military applications under the Secure Enclave program.

International Business Times

Dow Hits Yet Another Record High

It pops up to 41,563.08 points fueled by favorable inflation news from the Commerce Department

Tom’s Hardware

Chinese entities use restricted GPUs on Amazon and Microsoft cloud services: Report

Chinese entities continue to use Nvidia's A100 and H100 GPUs for their AI projects though cloud access.

Tom’s Hardware

U.S. lawmakers request probe into Chinese router manufacturer TP-Link — letter cites cybersecurity vulnerabilities with TP-Link routers

Citing multiple vulnerabilities, hacking groups, and extensive use by military personnel and bases, two U.S. congressmen jointly requested the Department of Commerce investigate potential threats from TP-Link's Chinese-made routers.

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