The Latest Breaking News from the US Commerce Department

Tensions between the U.S. and China escalated in the weeks leading up to a possible meeting between U.S. President Donald Trump and Chinese President Xi Jinping

The US Commerce Department of the Trump administration has pulled back billions of dollars in funding for a non-profit aimed at promoting US chip design and fabrication, suggesting that its appointment under the Biden administration somehow made it inappropriate for distributing taxpayer funds.

June S&P 500 E-Mini futures (ESM25) are up +0.05%, and June Nasdaq 100 E-Mini futures (NQM25) are up +0.14% this morning, pointing to a muted open on Wall Street, while investors await U.S. economic data, quarterly reports from more big banks, and remarks from Federal Reserve officials.

A planned Republican-led overhaul of the $42.5 billion federal broadband expansion program could channel up to $20 billion to Elon Musk's Starlink.

It turns out that TSMC did not voluntarily stopped supply of advanced AI processors, it was told to by the American government.

Last month, the US Commerce Department proposed a new rule prohibiting the sale and import of connected cars from China and Russia into the United States. If it passes, Polestars says the rule could prevent it from selling the vehicles it builds in South Carolina in America.

It seems like the competitiveness in the electric vehicle space is finally paying off as battery-powered cars are finally getting cheaper to make. Battery costs are dropping, material costs are down too, and even the average transaction price of new vehicles seems to be stabilizing a bit (although they're still high).

The United States and China on Tuesday raised concerns about trade between the world's two biggest economies, with China's commerce minister urging Washington to lift sanctions on his country's firms "as soon as possible".

A Biden administration official said the rules proposed on Monday will amount to a total ban on vehicles from China.