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The Latest Breaking News from the Commerce Department

Retail Sales Surge as Americans Embrace Holiday Season

U.S. retail sales rose 0.3% in November, with an increase in restaurant and furniture store spending, signaling consumer power despite inflation.

Top News

US October Trade Deficit Widens Further On Decline In Exports

The US trade deficit continued to grow in October due to a fall in exports, according to government data published Wednesday.

International Business Times

US Fed's Favored Inflation Gauge Slows In October

A key inflation measure used by the US Federal Reserve to set interest rates eased further last month amid declining energy and goods prices, according to government data published Thursday.

International Business Times

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Sales Of New US Homes Slow In October

New home sales in the United States decelerated in October, according to government data released Monday, although the market for new properties remains boosted by a lack of inventory for existing ones.

International Business Times

U.S. Consumer Spending Suggests PayPal Could Be a Contrarian Options Play

The Commerce Department reported yesterday that the economy’s annual growth rate was 4.9% in the third quarter, the fastest pace in almost two years, and more than double the second quarter.

Barchart

The Commerce Department updates its policies to stop China from getting advanced computer chips

The Commerce Department has updated and broadened its export controls to stop China from acquiring advanced computer chips and the equipment to manufacture them

The Independent UK

The U.S. imports most of its solar panels. A new ruling may make that more expensive

The Commerce Department says solar panel makers in four Southeast Asian countries are evading U.S. duties on Chinese solar components. The finding could raise costs in the United States.

WEKU

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Apple and Amazon will deliver the real barometer of the economy

The twin tech giants, which represent billions in consumer and business spending, will deliver highly-anticipated quarterly reports on Thursday.

Fortune

Taiwanese Company Demands U.S. Taxpayers Cover the Higher Costs of Making Semiconductors in Arizona

Taiwan Semiconductor Manufacturing Company cites regulatory costs and a lack of skilled workers as specific impediments. Biden and Congress can fix those without giving out billions of taxpayer dollars.

Reason

Officials juggle several US goals as they award CHIPS money - Roll Call

The Commerce Department has assembled a team to allocate the money Congress provided last year to revitalize the US chip industry.

Roll Call

Biden Administration Considering New Tariffs That Will Hike Prices for Canned Goods

The Commerce Department and the International Trade Commission are considering a petition that would impose tariffs of up to 300 percent on tinplate steel.

Reason

Nasdaq Futures Outperform, Economic Data In Focus As Market Seeks Rebound

Tech stocks poised for recovery as market sentiment improves after pullback

Zenger

Biden is set to announce how billions of dollars for expanding broadband access will be distributed

President Joe Biden will announce how much money each state is set to receive from the largest-ever federal investment in broadband expansion

The Independent UK

Commerce Department starts process to fund tech hubs across the US with $500 million in grants

The Commerce Department is launching the application process for cities to receive a total of $500 million in grants to become technology hubs

The Independent UK

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Bangkok Post

US growth cools in first quarter

WASHINGTON: US economic growth lost steam in the first quarter this year, the Commerce Department said on Thursday, as the possibility of a mild recession brews while consumer spending weakens.

Bangkok Post

US imposes $300m penalty on Seagate over Huawei shipments

WASHINGTON: United States authorities on Wednesday imposed a US$300 million penalty on Seagate Technology, to resolve alleged violations of export controls related to selling hard disk drives to Huawei Technologies, the Commerce Department said.

Tribune News Service

Screening US funds for Chinese tech raises question: Which tech?

The Biden administration and lawmakers are drawing up plans to screen and potentially restrict U.S. investment flowing to China’s tech sector, but the effort is already sparking debate about how far-reaching it should be.

Roll Call

Screening US funds for Chinese tech raises question: Which tech? - Roll Call

The U.S. appears headed to screening of outbound investment in China’s technology sector amid a debate about which tech should be covered.

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Roll Call

Bipartisan measure to block solar tariff waiver heads to markup - Roll Call

A bipartisan measure would strike down an administration waiver of tariffs on solar energy equipment from four countries in Southeast Asia.

Caixin Global

U.S. Blacklists 12 Chinese Companies Over Alleged Russia Ties

Addition of 3HC Semiconductors, Allparts Trading, STK Electronics and others brings Chinese total on Entity List to 639

Reuters

US imposes export controls on companies assisting Russia's military

The U.S. Commerce Department said on Wednesday it is imposing export controls on more than two dozen companies in China, Turkey and other countries for supporting Russia’s military and defense industries.

Windows Central

AI regulations in the making? Biden administration finally considers rules to govern ChatGPT and Bing Chat

Government regulation via a certification process may be coming for AI as the U.S. Commerce Department asks for consumer feedback on what it should do about the risky technology.

Reason

The RESTRICT Act Would Restrict a Lot More Than TikTok

Once again, politicians use popular fears to push for open-ended power.

Tribune News Service

Biden administration aims to stop China, Russia from using chip funding

WASHINGTON — The U.S. Commerce Department released proposed guidelines Tuesday to prevent China, Russia, Iran and North Korea from benefiting from $52 billion in federal funding for semiconductor chip production.

WEKU

Biden has big ideas for fixing child care. For now a small workaround will have to do

The administration is turning to semiconductors in the hopes of expanding affordable child care.

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