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The Latest Breaking News from Commerce

Trump's Ex-Commerce Secretary Warns China Won't Bow To US Like EU, Japan: 'If There's A Real Trade War…'

Wilbur Ross, the former Commerce Secretary under President Donald Trump, has cautioned that the U.S.-China trade war is far from over, despite recent trade agreements with the EU and Japan.

Benzinga

Don't let EU, Japan deals lull you into a sense of security, says Trump's former commerce secretary—a trade war with China may still be in the cards

"We're in much better shape because it's now clear that if there's gonna be a real trade war with anyone, it would just be with China," Secretary Ross tells Fortune.

Fortune

Trump Administration Weighs 'Paradigm Shift' In Patent System To Raise Billions In Revenue: Report

The Trump administration is contemplating a significant revamp of the U.S. patent system, which could potentially generate tens of billions of dollars in revenue.

Benzinga

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Commerce Secretary Howard Lutnick Dismisses 'Silly' Concerns Of US Automakers Over Japan Trade Deal, Says They're 'Cool' With It

The U.S. Commerce Secretary Howard Lutnick has disclosed that American auto CEOs are in favor of President Donald Trump’s new trade deal with Japan.

Benzinga

Fact check: Could Trump’s trade tariffs pay off the US deficit?

Commerce Secretary Howard Lutnick says tariffs will plug US finances, but experts say it’s unlikely.

Al Jazeera

Trump's AI action plan claims to chart 'a decisive course to cement US dominance in artificial intelligence'

"We are moving with urgency to make this vision a reality."

PC Gamer

Trump’s Treasury Secretary suggests August 1 trade deal deadline doesn’t matter one day after Commerce Secretary calls it a ‘hard deadline’

Tariffs as high as 40 percent on U.S. trading partners could take effect on August 1

The Independent UK

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Howard Lutnick Says Trump's August 1 Tariff 'Hard Deadline' Is Final — Smaller Nations Face 10% Base Rate

On Sunday, Howard Lutnick, the Commerce Secretary, stated that August 1 is the “hard deadline” for countries to begin paying tariffs to the United States.

Benzinga

The US squeezed Nvidia's AI chip export deal with China into negotiations over important rare earth elements, bizarrely claiming 'we put that in the trade deal with the magnets'

Ah, it's "leaving important bits out" day.

PC Gamer

Trump slaps 17 percent tariff on tomatoes from Mexico

US Commerce Secretary Howard Lutnick says US farmers have been ‘crushed’ by unfair trade practices.

Al Jazeera

FBI headquarters fight stymies spending bill in Senate - Roll Call

Plans for Senate appropriators to approve a Justice Department funding bill collapsed over the location of a new FBI headquarters.

Roll Call

TACO returns to Wall Street: Investors shrug off Trump’s latest tariff threat as nickname sets the investor’s mood

Experts weigh in on whether Trump will carry out his latest threat – and the consensus is that the uncertainty looming over the U.S. economy can’t continue, Rhian Lubin reports

The Independent UK

Sam Altman saw Musk's fallout with Trump coming: 'Elon busts up with everybody'

The falling-out between Elon Musk and Donald Trump came as no surprise to those who have worked closely with the individuals, such as OpenAI's Sam Altman.

Fortune

Debate erupts over role job cuts played in weather forecasts ahead of deadly Texas floods

Former federal officials and outside experts have warned for months that President Donald Trump’s staffing cuts to the National Weather Service could endanger lives

The Independent UK

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Roll Call

‘Big, beautiful’ budget reconciliation package passes Senate - Roll Call

Senate Republicans pushed a mammoth budget reconciliation bill through their chamber Tuesday morning over vehement Democratic objections.

Benzinga

Howard Lutnick's Viral Fed Rant Claims 'Simple Formula' for Rate Cuts—Here's Why Economists Are Cringing

Howard Lutnick’s viral social media attack on Jerome Powell reveals the growing tension between Trump’s economic team and Fed independence—here’s what investors need to know

Barchart

S&P 500 and Nasdaq Climb to Record Highs on China Trade Optimism

The S&P 500 Index ($SPX ) (SPY ) Friday closed up +0.52%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +1.00%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.39%. September E-mini S&P futures (ESU25 ) are up +0.42%, and September E-mini Nasdaq futures...

Barchart

Crude Oil Settles Higher on US-China Trade Optimism

August WTI crude oil (CLQ25 ) Friday closed up +0.28 (+0.43%), and August RBOB gasoline (RBQ25 ) closed down -1.04 (-0.50%). Crude oil and gasoline prices settled mixed on Friday. Crude found support on signs of easing trade tensions as the US moves closer to trade deals with China and...

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Barchart

Crude Oil Prices Climb on Positive Trade News

August WTI crude oil (CLQ25 ) today is up +0.73 (+1.12%), and August RBOB gasoline (RBQ25 ) is down -0.94 (-0.35%). Crude oil and gasoline prices today are mixed. Crude is climbing today on signs of easing trade tensions as the US moves closer to trade deals with China and...

Barchart

Stocks Rally on Hopes of Trade Deals

The S&P 500 Index ($SPX ) (SPY ) today is up +0.58%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.89%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.52%. September E-mini S&P futures (ESU25 ) are up +0.53%, and September E-mini Nasdaq futures...

Benzinga

Howard Lutnick Confirms US-China Trade Agreement, Reaffirms White House's Progress To Close Deals With 10 Other Trading Partners

The U.S. and China have finalized a trade understanding, building on an agreement reached last month in Geneva. Commerce Secretary Howard Lutnick confirmed the deal, which was signed two days ago, noting that the White House has immediate plans to secure agreements with ten other major trading partners.

Euronews

US Steel buyout gives Trump a new power: What about future presidents?

President Trump holds a veto power on specific matters and has the right to appoint an independent director as part of the Nippon Steel takeover.

Fortune

Exclusive: Trump’s former commerce secretary says an overconfident White House may push trade allies like the EU too far

The Trump administration is scoring wins with its new foreign policy, says Wilbur Ross, but runs the risk of getting overconfident because of its successes.

Reason

Trump Is Slapping a 50 Percent Tariff on Home Appliances

Refrigerators, freezers, dishwashers, washing machines, and dryers are among the products subject to the president’s 50 percent tariff on imports derived from aluminum and steel.

Fortune

Exclusive: Trump's fixation with 90-day pauses is less about foreign governments, and more about signing deals by mid-terms, says his former commerce secretary

"In history the senators always had a big voice in tariffs—so far he hasn't given them any voice, and there's always the danger that they will suddenly start to exert a voice," Wilbur Ross tells Fortune.

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