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The Latest Breaking News from Commerce

US govt warns that sanctions swerving GPUs will fall under their 'control the very next day'

The US Commerce Secretary, Gina Raimondo, is determined to stop cutting-edge AI chips from getting into China's hands and has warned companies that seek to follow the letter but not the spirit of the law.

Tom’s Hardware

US gov fires a warning shot at Nvidia: 'We cannot let China get these chips... If you redesign a chip that enables them to do AI, I'm going to control it the very next day'

The chipmaker has been quick to redesign its products to pass the current restrictions, but US Commerce Secretary Gina Raimondo seems to have had enough.

PC Gamer

US Commerce Chief Warns Against China 'Threat'

US Commerce Secretary Gina Raimondo on Saturday urged lawmakers, Silicon Valley and US allies to stop China from getting semiconductors and cutting-edge technologies key to national security.

International Business Times

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China commission calls for stronger tech export controls - Roll Call

Congress must create a stronger system to stop the flow of technology that can aid Beijing’s military, according to a U.S. commission.

Roll Call

Bliley, who rode red wave to Commerce chair, dies at 91 - Roll Call

Former Rep. Thomas J. Bliley Jr., who chaired the House Commerce Committee after the Republican wave of 1994, died Thursday at age 91.

Roll Call

Senate votes to keep government open amid wide gulf on spending - Roll Call

A stopgap spending measure to keep the government operating into early 2024 is headed to President Joe Biden's desk.

Roll Call

House heads home after defeat of rule for Iran, spending bills - Roll Call

The House left for its Thanksgiving break after a GOP revolt led to the defeat of the rule for floor debate on two pieces of legislation.

Roll Call

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Piyush Goyal visits Tesla's California facility, says US electric car maker to double Indian component imports

Union Minister for Commerce and Industry Piyush Goyal on Monday (local time) visited Tesla's manufacturing facility in California's Fremont and said that the US electric car maker is on its way to double its components imports from India.

Dynamite News

Tesla to double its components imports from India: Piyush Goyal

Tesla plans to double components imported from India, according to Commerce & Industry Minister Piyush Goyal. He visited Tesla's Fremont facility but was unable to meet Elon Musk. Last year, Tesla bought $1 billion of components from India and is aiming to source $1.7-$1.9 billion this year

The Hindu

Biden must decide whether patent-infringing Apple watches can be imported into the U.S. from China by Christmas–but Congress could neuter America’s ability to protect its IP altogether

The U.S. International Trade Commission (ITC) recently issued an order that could prohibit imports of some Apple Watch products.

Fortune

DeSantis says Florida helped send weapons to Israel — a move that could boost him in the GOP primary

Florida Gov. Ron DeSantis's office says the state has arranged to send drones, weapons and ammunition to Israel as it prepares for an incursion of Gaza in response to Hamas’ attack

The Independent UK

Previously stalled FAA, Amtrak nominees move toward vote in Senate - Roll Call

The Senate Commerce Committee on Wednesday advanced FAA and Amtrak nominees, after senators lifted their objections.

Roll Call

China says US moves to limit access to advanced computer chips hurt supply chains, cause huge losses

Beijing has vigorously protested the U.S. Commerce Department's latest update of export controls to prevent exports to China of advanced computer chips and the equipment to make them

The Independent UK

The Commerce Department updates its policies to stop China from getting advanced computer chips

The Commerce Department has updated and broadened its export controls to stop China from acquiring advanced computer chips and the equipment to manufacture them

The Independent UK

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Fortune

Commerce Secretary Gina Raimondo on her working group with China: 'Hopefully the baby steps lead to bigger steps'

At Fortune's CEO Initiative, Raimondo laid out the Biden administration's "small garden, high walls" approach to building its relationship with China.

Reason

Companies Seeking CHIPS Act Subsidies Are Encouraged To Double-Dip

At least a dozen states have beefed up targeted incentives to coincide with handouts from the Commerce Department.

Roll Call

Military pay, typically exempted during shutdowns, is at risk - Roll Call

This year, a vulnerable House GOP incumbent is leading the charge to ensure the troops get paid on time if funding lapses on Oct. 1.

Newcastle Herald

Out of the classroom and into Hansard: Maitland students witness historic budget speech

A quick schedule shuffle and the Year 10 Commerce class were suddenly witnessing history.

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Bangkok Post

Prices of 20 essential items likely to be cut

The government is likely to start reducing the prices of 20 essential items next month, Commerce Minister Phumtham Wechayachai said on Wednesday.

The Independent UK

US names former commerce secretary, big Democrat donor to coordinate private sector aid for Ukraine

The Biden administration has tapped former Commerce Secretary and major Democratic donor Penny Pritzker to coordinate U.S. efforts to channel private sector reconstruction assistance to Ukraine

Chicago Sun-Times

Biden names Penny Pritzker to lead U.S. in forging Ukraine’s economic recovery

President Biden said Pritzker will work in ‘lockstep’ with the Ukraine government.

The Independent UK

China uses bizarre memes of US commerce boss to plug new phone

‘No commerce secretary has been tougher than I on China,’ Raimonda says in altered video on Chinese TV

The Hindu

India will play an important role in trade realignment globally: Former U.S. Assistant Commerce Secretary Arun Kumar

India can play a pivotal role in global manufacturing post-pandemic, says Arun Kumar, former US Assistant Sec. of Commerce. He envisions a world where nations have learnt from the havoc wreaked by centralising manufacturing in China. His new book, The Global Trade Paradigm, explores how to rethink international business.

The Independent UK

US commerce secretary warns China will be 'uninvestable' without action on raids, fines

Commerce Secretary Gina Raimondo says she warned Chinese leaders that U.S. businesses might stop investing in their country without prompt action to address complaints about worsening conditions due to raids on firms, unexplained fines and unpredictable official behavior

Caixin Global

Shanghai Composite Index Ended Nearly Flat on Wednesday

Shenzhen Component Index closed up 0.26%

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