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The Latest Breaking News from the Commerce Department

Consumers saw a double whammy of bad news in May, pulling back on spending as inflation heated up

The economic bad vibes are hitting home.

Fortune

Key inflation gauge rose last month while Americans cut back on spending

A key inflation gauge moved higher in May in the latest sign that prices remain stubbornly elevated while Americans cut back on their spending

The Independent UK

The Latest: Hegseth praises US attack on Iran but offers few details on the strikes’ impact

Defense Secretary Pete Hegseth and Gen. Dan Caine held a news conference to respond to an early leaked intelligence report suggesting U.S. strikes against Iran likely put the country back mere months

The Independent UK

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U.S. economy shrank 0.5% between January and March, worse than earlier estimates revealed

The U.S. economy shrank at a 0.5% annual pace from January through March as President Donald Trump’s import taxes at least temporarily disrupted business, the Commerce Department reported Thursday in a a downgrade from its previous estimate

The Independent UK

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

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

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

Fortune

Biden alums could boost their House ranks in midterm elections - Roll Call

A handful of federal employees who helped carry out the Biden administration’s policy priorities are seeking House seats in 2026.

Roll Call

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Khanna Criticises Trump-Backed AI Project to Open Data Center in Dubai, OpenAI Set to Assist

Ro Khanna criticises Trump's UAE AI data centre deal, suggesting it should be in the US. OpenAI may assist the UAE in a massive Dubai data centre, potentially the world's largest.

International Business Times UK

Tomato trade dispute between the US and Mexico is boiling over again – with 21% tariffs due in July

Although technically they’re a fruit, tomatoes are one of the most-consumed vegetables, according to the U.S. Department of Agriculture. Among the fresh produce the nation buys from foreign countries, tomatoes often rank first or second, behind avocados.

The Conversation

US Reverses Biden-era Export Controls On Advanced AI Chips

The United States rescinded further export controls Tuesday on advanced computing semiconductors, answering calls by countries that said they were being shut out from crucial technology needed to develop artificial intelligence.

International Business Times

Trump in the Middle East: How much are US-Gulf investments worth?

US President Donald Trump embarks on a three-day tour of Saudi Arabia, Qatar, and the United Arab Emirates from Tuesday.

Al Jazeera

Lutnick's "5-star rating" for conflicts

“Our system was never designed for this level of conflict issues,” ethic watchdogs say

Salon

New 21% Tariff Will Make Fresh Tomatoes More Expensive

Trump hopes you like tomato sauce!

Reason

US Retail Sales Climb 1.4% In March, Fueled By Auto Buys

Retail sales climbed 1.4% in March, surpassing the modest February's 0.2% uptick, according to the Commerce Department. On an annual basis, sales were up 4.6%, with the figures adjusted for seasonal fluctuations.

International Business Times

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Euronews

US moves ahead with tariffs - launching pharma and chip investigations

The Trump administration has taken its next steps toward imposing more tariffs on key imports, launching investigations into imports of computer chips, chip making equipment and pharmaceuticals.

The Independent UK

US moves ahead on tariffs with investigations into computer chips and pharmaceuticals

The Trump administration has taken its next steps toward imposing more tariffs on key imports, launching investigations into imports of computer chips and products that contain them, chip making equipment and pharmaceuticals

The Independent UK

Who will Trump’s 25% auto tariffs hurt the most?

Trump will levy duties of 25 percent on all imports of fully assembled vehicles from April 3

Roll Call

Ohio officials hopeful Intel gets plant funds targeted by Trump - Roll Call

President Donald Trump called for a rollback of billions for U.S. microchip plants, possibly threatening funds for Intel and others.

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International Business Times

Michael Grimes, Star Banker Behind Musk's Twitter Buyout, To Lead Sovereign Wealth Fund: Reports

Michael Grimes has reportedly been recruited to lead the sovereign wealth fund being pushed by U.S. President Donald Trump – he is known as a key dealmaker in the investment realm and also for his role in Elon Musk's acquisition of Twitter.

The Guardian - US

White House to overhaul $42.5bn Biden-era internet plan – probably to Elon Musk’s advantage

Billionaire cost-cutter’s Starlink service the likely beneficiary of Trump plan to alter rural internet program

The Independent UK

Census Bureau under Trump cuts loose expert advisors who work for free

The U.S. Census Bureau has eliminated outside advisory committees of demographers, statisticians and advocacy group leaders who provided technical guidance and expertise

Fortune

Last year, GDP expanded by 2.8% and the private sector added 1.5 million jobs—but Trump’s Treasury secretary claims that growth was ‘brittle underneath'

Scott Bessent said the private sector “has been in a recession.”

International Business Times

Trump Launches Probe Into Alleged Lumber Dumping In The U.S.

If the investigation confirms evidence of dumping, the president has the authority to implement retaliatory measures, such as imposing quotas and tariffs.

Fortune

Trump is reportedly planning a Postal Service takeover. The White House denies any such executive order is in the works

The president is expected to sign an executive order that would fire the governing board of the U.S. Postal Service and leave the agency to the Commerce Department and secretary Howard Lutnick, per reports.

The Independent UK

White House denies Trump is moving to take over Postal Service despite reports of looming executive order

The 250-year-old independent agency could soon be absorbed by the Commerce Department, according to a report

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