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The Latest Breaking News from the Commerce Department

Nasdaq Futures Outperform, Economic Data In Focus As Market Seeks Rebound

Tech stocks poised for recovery as market sentiment improves after pullback

Zenger

Biden is set to announce how billions of dollars for expanding broadband access will be distributed

President Joe Biden will announce how much money each state is set to receive from the largest-ever federal investment in broadband expansion

The Independent UK

Commerce Department starts process to fund tech hubs across the US with $500 million in grants

The Commerce Department is launching the application process for cities to receive a total of $500 million in grants to become technology hubs

The Independent UK

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US growth cools in first quarter

WASHINGTON: US economic growth lost steam in the first quarter this year, the Commerce Department said on Thursday, as the possibility of a mild recession brews while consumer spending weakens.

Bangkok Post

US imposes $300m penalty on Seagate over Huawei shipments

WASHINGTON: United States authorities on Wednesday imposed a US$300 million penalty on Seagate Technology, to resolve alleged violations of export controls related to selling hard disk drives to Huawei Technologies, the Commerce Department said.

Bangkok Post

Screening US funds for Chinese tech raises question: Which tech?

The Biden administration and lawmakers are drawing up plans to screen and potentially restrict U.S. investment flowing to China’s tech sector, but the effort is already sparking debate about how far-reaching it should be.

Tribune News Service

Screening US funds for Chinese tech raises question: Which tech? - Roll Call

The U.S. appears headed to screening of outbound investment in China’s technology sector amid a debate about which tech should be covered.

Roll Call

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Bipartisan measure to block solar tariff waiver heads to markup - Roll Call

A bipartisan measure would strike down an administration waiver of tariffs on solar energy equipment from four countries in Southeast Asia.

Roll Call

U.S. Blacklists 12 Chinese Companies Over Alleged Russia Ties

Addition of 3HC Semiconductors, Allparts Trading, STK Electronics and others brings Chinese total on Entity List to 639

Caixin Global

US imposes export controls on companies assisting Russia's military

The U.S. Commerce Department said on Wednesday it is imposing export controls on more than two dozen companies in China, Turkey and other countries for supporting Russia’s military and defense industries.

Reuters

AI regulations in the making? Biden administration finally considers rules to govern ChatGPT and Bing Chat

Government regulation via a certification process may be coming for AI as the U.S. Commerce Department asks for consumer feedback on what it should do about the risky technology.

Windows Central

The RESTRICT Act Would Restrict a Lot More Than TikTok

Once again, politicians use popular fears to push for open-ended power.

Reason

Biden administration aims to stop China, Russia from using chip funding

WASHINGTON — The U.S. Commerce Department released proposed guidelines Tuesday to prevent China, Russia, Iran and North Korea from benefiting from $52 billion in federal funding for semiconductor chip production.

Tribune News Service

Biden has big ideas for fixing child care. For now a small workaround will have to do

The administration is turning to semiconductors in the hopes of expanding affordable child care.

WEKU

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