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The Latest Breaking News from the Commerce Department

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.”

Fortune

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.

International Business Times

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.

Fortune

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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

The Independent UK

Trump Reportedly Seeks Hostile Takeover Of USPS, Union Decries 'Outrageous, Unlawful' Plans

The U.S. president is reportedly expected to sign an executive order soon that will fire the U.S. Postal Service's governing board and place the agency under the Commerce Department.

International Business Times

US Retail Sales See Biggest Drop In Nearly Two Years On Harsh Weather

US retail sales plunged by the most in almost two years last month as cold weather hit the country alongside wildfires in California, data showed Friday, reflecting broad declines while President Donald Trump returned to office.

International Business Times

US Trade Gap Swells In 2024 As Deficits Under Fresh Scrutiny

The US trade gap swelled last year to nearly $920 billion, according to government data released Wednesday, as deficits come under the spotlight with President Donald Trump's return to the White House.

International Business Times

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Social policy cuts likely from swath of tech initiatives - Roll Call

Commerce secretary nominee Howard Lutnick may cut tech initiative spending such as semiconductor subsidies or broadband expansion.

Roll Call

Senate panel advances Lutnick for Commerce secretary - Roll Call

The Senate Commerce, Science and Transportation Committee advanced Howard Lutnick’s nomination to lead the Commerce Department.

Roll Call

Billionaire Lutnick To Sell Business Holdings, Support Tariffs

Howard Lutnick, potential Commerce Secretary, supports Trump's trade policies, plans to divest business interests, and survived 9/11.

Top News

US Economy Grows At 3.1% In Third Quarter

American economy grew by 3.1% in Q3 driven by consumer spending and exports, with concerns over inflation and recent political developments.

Al Jazeera

As Trump 2.0 looms, Taiwan’s chip industry braces for upheaval

Trump’s return casts doubt on Joe Biden’s signature initiative providing billions in funding to semiconductor firms.

International Business Times

US Firms Up $6.2 Bn Micron Funding To Boost Chipmaking

US President Joe Biden's administration finalized nearly $6.2 billion in funding for Micron Technology on Tuesday, firming up a deal to boost domestic semiconductor production before Donald Trump returns to the White House.

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International Business Times

US Trade Deficit Narrows In October As Imports Fall

The US trade gap narrowed more than expected in October, government data showed Thursday, as imports slipped more than exports.

USA Today Sports Media Group

China stacked the deck against Augusta-made golf carts. Here’s what America did about it

"We’re glad to see the U.S. Department of Commerce take a stand for American manufacturers and workers."

International Business Times

US Unveils Fresh Export Curbs Targeting China's Chip Sector

The United States announced new export restrictions Monday taking aim at China's ability to make advanced semiconductors -- used in weapon systems and artificial intelligence -- as competition deepens between the world's two biggest economies.

The Independent UK

US economy grows at 2.8% pace in third quarter on consumer spending, unchanged from first estimate

The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of third-quarter growth

Reason

Trump's Tariffs Are Already Creating Jobs—in Lobbying

The president-elect's first term turned lobbying into a growth industry, and he looks poised to do it again.

International Business Times

US Fed's Favored Inflation Gauge Ticks Up In October

US inflation -- set to be a key issue for incoming president Donald Trump -- accelerated slightly last month, according to data published Wednesday, underscoring price pressures in the world's largest economy.

Reason

Abolish the Commerce Department

Donald Trump has tabbed Howard Lutnick to be the next secretary of the Department of Commerce. He should also be the last.

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