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The Latest Breaking News from Commerce

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.

Euronews

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.

Fortune

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.

Reason

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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.

Fortune

Trump's tariff deal 'quietly' added 10% raise which nobody is complaining about anymore, says Wilbur Ross

"When you think about it, in the normal course, getting quietly to do a 10% tariff on everything from everywhere was a huge achievement," Wilbur Ross tells Fortune.

Fortune

Trump sends Bessent and Lutnick to haggle with Chinese on tariff war after Xi chat

News of the talks comes a day after Trump spoke with Chinese leader Xi Jinping

The Independent UK

Revamped Senate AI provision faces quick opposition - Roll Call

A Senate committee's decision to tie a moratorium on state regulation of AI to the federal broadband expansion program is raising questions.

Roll Call

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A banana a day to keep the tariffs away? Howard Lutnick mocked during congressional hearing over plan to make more products in America

‘We cannot build bananas in America,’ commerce secretary reminded in surreal exchange at House hearing on Donald Trump’s tariff policy

The Independent UK

As China restricts rare earths, Trump targets ethane in plastics manufacturing blow

Trump administration denies ethane exports to China in trade war escalation.

Fortune

Trump Official Insisting 'You Can't Fight a War Without' American-Made Steel Sparks Fears of Potential War: 'What War Are They Planning?'

Social media users shared dread online after a Trump official insisted that steel needs to be produced locally in order for the U.S. to be able to fight a war.

Latin Times

Volkswagen in direct talks with US government regarding tariff deal

German carmakers such as Mercedes-Benz and BMW are also reportedly trying to negotiate tariffs directly with the US Secretary of Commerce, Howard Lutnick.

Euronews

70% of small businesses say tariffs are already increasing costs, despite Trump’s team assurances they are not

A recent HSBC survey found that over 70 percent of US small and mid-sized businesses are facing higher costs due to tariffs.

The Independent UK

Trump Official Insists 'There Is No Pain' From Tariffs. His Audience Immediately Calls Him Out

Billionaire-turned-Commerce Secretary Howard Lutnick repeatedly claimed Americans aren't feeling the impact of Trump's tariffs until audience members pushed back at an Axios event Wednesday.

Latin Times

Howard Lutnick says Trump’s tariffs won’t raise prices (despite Walmart, Nike and others saying they are)

‘I would expect that prices in America will be unaffected,’ Commerce Secretary says

The Independent UK

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Barchart

S&P Futures Gain With All Eyes on U.S.-China Trade Talks, Fed Speak on Tap

June S&P 500 E-Mini futures (ESM25) are trending up +0.32% this morning as investors pin their hopes on trade negotiations between Washington and Beijing.

The Independent UK

Commerce Secretary Howard Lutnick gloats about baffling UK trade deal

American consumers are still going to be hit with higher prices from Trump’s 10 percent tariffs on British products

Latin Times

Trump Admin Official Criticizes Canada's 'Socialist Regime' Ahead of New Prime Minister's White House Meeting

Commerce Secretary Howard Lutnick called the Canadian government a "socialist regime" ahead of the meeting between Donald Trump and Prime Minister Mark Carney

The Independent UK

Democratic senators press Trump administration on how it will protect endangered species

Three Democratic U.S. senators are asking the Trump administration to explain how it analyzed a proposed rule to eliminate habitat protections for endangered and threatened species — and whether industry had a hand in drafting it

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Reason

Should Sharing Information About Israeli Businesses Get You 20 Years in Prison?

The IGO Anti-Boycott Act would dramatically expand U.S. anti-boycott laws. The House quietly postponed a vote after running into unexpected Republican opposition.

Fortune

Commerce Secretary Howard Lutnick says Trump’s tariffs will create ‘great jobs of the future’—fixing factory robots. Experts disagree

The plan to resurrect the industrial boom of the early 20th century has long odds of succeeding, Rutgers professor Eric Blanc said.

Fortune

U.S. Secretary of Commerce says the ‘new model’ is factory jobs for life—for you, your kids, and your grandkids

“This is the new model, where you work in these plants for the rest of your life, and your kids work here, and your grandkids work here,” U.S. Secretary of Commerce Howard Lutnick says.

The Independent UK

Lutnick says someone asked him for 10 Trump immigration cards: ‘That’s $50m for dinner. So it’s paying for my dinner’

Commerce secretary says sales of gold cards make him ‘very popular’

The Independent UK

Commerce Secretary says US is close to first tariff deal, days after Trump bragged he already had 200 deals

Commerce Secretarty Howard Lutnick says he has a deal done but won’t name the country

International Business Times

Trump Tempers Auto Tariffs, Winning Cautious Praise From Industry

Trump signed an executive order to limit the impact of overlapping tariffs on automakers. He also released a proclamation that gives the industry a two-year grace period to move supply chains back to the United States and reduce "American reliance on imports of foreign automobiles and their parts."

International Business Times

Trump Signals Relief On Auto Tariffs As Industry Awaits Details

The White House said Tuesday it will soften tariffs on automakers, sparking optimism in Detroit whose car manufacturing industry has been on tenterhooks awaiting details on President Donald Trump's fast-evolving policy.

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