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The Latest Breaking News from the Commerce Department

Retail Sales See The Biggest Drop In More Than a Year. The Fading Effect Of Tax Refunds May Have Played a Role.

Retail sales declined 0.6% in July, according to data from the Commerce Department.

International Business Times

US lawmaker urges Trump admin to stop advanced chips from reaching China

A senior US Republican lawmaker has urged the Donald Trump administration to enforce stricter controls on advanced semiconductor shipments to China, warning that loopholes could allow Chinese companies to gain access to high-end chips critical to artificial intelligence and military technologies.

The Times of India

US weighs polysilicon price floor, tariffs to counter China in solar and chips

The Trump administration plans price floors and tariffs on polysilicon imports. This move aims to protect domestic factories and compete with China's ambitions. The decision impacts solar panel and semiconductor manufacturing supply chains significantly. Importers investing in US production may offset associated trade protection costs. China criticizes the trade investigation,…

The Economic Times

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read the most diverse news in one place.

Donald Trump orders restrictions on export of critical minerals scrap, White House officials say

President Trump signed an order to block old electronic waste exports. This aims to boost domestic recycling and critical mineral recovery efforts. The move seeks to counter China's dominance in vital material supply chains. Recapturing minerals already in the US offers a faster solution. This action supports national security and…

The Economic Times

Inflation rose 3.7% last month – way above its target, fueling more public frustration

The Federal Reserve opted to keep its benchmark interest rate unchanged for the fifth consecutive meeting on Wednesday

The Independent UK

AI companies would need ‘kill switch’ under new bipartisan bill

The most powerful frontier artificial intelligence models would need a “kill switch” under new bipartisan legislation released days after a frontier model went rogue to hack another AI company. The bill, introduced Thursday, would also give the Department of Homeland Security new power to order model shutdowns, as AI labs…

Roll Call

Legally or not, US government is controlling global access to world's most powerful AI

The US Commerce Department ordered Anthropic to block foreign nationals from advanced AI models. This action disabled Anthropic's models, citing national security concerns and impacting users globally. Restrictions were lifted after Anthropic enhanced safety guardrails, which reduced model intelligence and performance. The incident questions the government's role as an AI…

The Economic Times

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Legally or not, the US government is controlling global access to the world’s most powerful AI

When the U.S. Commerce Department ordered Anthropic on June 12, 2026, to immediately prevent all foreign nationals from using the artificial intelligence company’s two most advanced large language models, it disabled its Claude Fable 5 and Mythos 5 models within hours, making them inaccessible to everyone.

The Conversation

Trump administration may ban Chinese AI models, Axios reports

The Trump administration is exploring ways to limit access to advanced Chinese AI models. This move could benefit American companies like OpenAI and Anthropic. Previous efforts to ban foreign open-source models have been revived due to Kimi's emergence. Cybersecurity concerns and national security advocates are now pushing for these restrictions.…

The Economic Times

US retail sales lose steam in June as consumers pull back

In June, US retail sales experienced a modest uptick, signaling a slowdown in consumer spending. This increase was markedly weaker compared to the previous month’s robust showing. Notably, spending declined across essential sectors like vehicles and food stores.

The Economic Times

US official says Nvidia has begun shipping powerful H200 AI chips to China

In May, ⁠Reuters reported ⁠the Commerce Department had cleared around 10 Chinese firms to buy the H200, but no deliveries had been made at the time. Sources said at the time that Alibaba, Tencent and ByteDance were among those approved.

The Economic Times

US makes it easier to export Nvidia AI chips and military equipment to the UAE

The United States has eased export controls on the United Arab Emirates. This change allows easier access to Nvidia AI chips and military equipment. Approved UAE companies and US firms operating there will receive license-free advanced computing items. This move strengthens US-UAE relations and supports American technology companies. The decision…

The Economic Times

UAE investor who bought half of Trump crypto firm gets green light to buy US AI chips as critics slam ‘corrupt deal’

One expert warned that allowing these items into the UAE is a ‘massive national security risk’ because China could steal the technology

The Independent UK

Farm groups saved Bayer in court over RoundUp cancer claims. Five days later, Bayer called for tariffs on the ingredient farmers rely on

A tariff petition on Chinese glyphosate, a key RoundUp ingredient, has turned Bayer's biggest legal allies into its loudest critics

Fortune

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International Business Times

U.S. GDP Grew Faster Than Expected in First Quarter, but Consumer Spending Nearly Stalled

The Commerce Department's Bureau of Economic Analysis (BEA) said gross domestic product (GDP) grew at an annualized rate of 2.1% during the January through March period, an upward revision.

Evening Standard

European stocks climb as Dow Jones hits new high

The FTSE 100 closed up 68.26 points, 0.7%, at 10,529.89.

The Independent UK

US economy expanded at solid 2.1% pace in January-March, government says, upgrading last estimate

The U.S. economy expanded at a solid and unexpected 2.1% annual pace from January through March, the Commerce Department reported Thursday in its final estimate of first-quarter growth

The Economic Times

Legal tech firm sues US over order limiting foreign access to top-tier Anthropic models

Legion LegalTech Corp, a legal tech firm based in the US, has initiated legal action against the federal government after a controversial directive mandated AI company Anthropic to restrict access to its advanced models for foreign users. Legion argues this mandate, issued by the Commerce Department, has significantly disrupted its…

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The Economic Times

Anthropic says Alibaba illicitly extracted Claude AI model capabilities

US AI firm Anthropic has accused Chinese tech giant Alibaba of orchestrating the largest known attempt to steal its artificial intelligence capabilities. The company alleges Alibaba used nearly 25,000 fraudulent accounts to extract data from its Claude chatbot between April and June 2026, aiming to replicate its advanced AI model.

The Economic Times

US new single-family home sales post second straight monthly decline

US new home sales unexpectedly fell in May for the second straight month, hitting a seasonally adjusted annualised rate of 580,000 units, the weakest since January, according to the Commerce Department. The decline was driven by high mortgage rates—around 6.47% for a 30-year loan—and elevated home prices, which continue to…

The Independent UK

A developer is trying to sell condos at Miami Surfside site of deadly building collapse. Not one has been bought, report says

The 12-story beachfront condo building collapsed in June 2021

The Economic Times

Lutnick’s Anthropic crackdown claims new power over AI models

The US government has taken an unprecedented step, using export control laws to restrict foreign access to advanced AI models from Anthropic. This move, citing national security concerns over potential 'jailbreaks,' has sparked debate about government intervention in AI development and usage. Industry experts warn this could lead to broader…

The Economic Times

US awards $500 million to Nvidia-backed SandboxAQ for finding new chipmaking materials

America is investing heavily in its chip industry. The US government has given a massive $500 million to SandboxAQ. This company will develop new chemicals and materials for making computer chips right here in America. The goal is to reduce reliance on foreign supplies for crucial components.

The Economic Times

US holds off blacklisting China's DeepSeek, more than 100 firms deemed security risks, sources say

DeepSeek, CXMT and other companies were approved by an interagency committee last year for addition to the Commerce Department's Entity List, which is being reported for the first time. Reuters is also exclusively reporting the large number of companies awaiting publication on the list.

The Economic Times

US connected-car rule prompts Ford, other automakers to seek licenses for China-built models

Automakers like Ford are seeking U.S. government authorization to continue selling vehicles with Chinese-linked software, facing a ban set to take effect for model year 2027. This complex process highlights the auto industry's deep ties to China's supply chains, with hardware restrictions expected to pose even greater challenges.

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