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The Latest Breaking News from the Commerce Department

Biden plan to purge auto tech from China might actually hurt Detroit

The Commerce Department's proposed new ruling may have stark consequences for domestic automakers.

The Street

U.S. Chinese Car Tech Ban Will Hit General Motors And Ford Too

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

InsideEVs

Commerce Department Seeks Ban On Chinese And Russian Vehicle Tech

Commerce Department plans to ban Chinese and Russian software and hardware in U.S. connected vehicles for national security reasons.

Top News

Ban sought for Chinese, Russian software and hardware used in autonomous vehicles on US roads

A ban on the sale of connected and autonomous vehicles in the U.S. that are equipped with Chinese and Russian software and hardware is being sought by the U.S. Commerce Department, with the stated goal of protecting national security and U.S. drivers

The Independent UK

US Set To Announce Planned Ban On Chinese Vehicle Technology: Report

The Commerce Department is expected to unveil the proposed prohibitions on Monday, following an investigation ordered by President Joe Biden.

International Business Times

Intel cleared to get $3.5 billion to make advanced chips for Pentagon — Secure Enclave program ushers leading-edge CPUs to the military

Intel will get a $3.5 billion federal grant to make chips for military applications under the Secure Enclave program.

Tom’s Hardware

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Dow Hits Yet Another Record High

It pops up to 41,563.08 points fueled by favorable inflation news from the Commerce Department

International Business Times

Chinese entities use restricted GPUs on Amazon and Microsoft cloud services: Report

Chinese entities continue to use Nvidia's A100 and H100 GPUs for their AI projects though cloud access.

Tom’s Hardware

U.S. lawmakers request probe into Chinese router manufacturer TP-Link — letter cites cybersecurity vulnerabilities with TP-Link routers

Citing multiple vulnerabilities, hacking groups, and extensive use by military personnel and bases, two U.S. congressmen jointly requested the Department of Commerce investigate potential threats from TP-Link's Chinese-made routers.

Tom’s Hardware

US To Award Chipmaker Texas Instruments Up To $1.6 Bn

The US government said Friday it has signed a preliminary agreement with semiconductor manufacturer Texas Instruments to give the company up to $1.6 billion to help fund new facilities in the country.

International Business Times

U.S. to ban Chinese software in self-driving cars amid national security fears

Chinese-made autonomous vehicles have driven 1.8 million miles in California alone since 2017.

Fortune

U.S. government reportedly denies $4 billion grant for Applied Materials

Applied Materials will not get $4 billion to fund new R&D center in Silicon Valley.

Tom’s Hardware

US Economy Beats Growth Expectations In Second Quarter

US economic growth blew past expectations in the second quarter, boosted by consumer spending and inventory building despite high interest rates, government data showed Thursday, after a slow start to the year.

International Business Times

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Top News

Kaspersky To Shut Down U.S. Operations Amid Security Concerns

Kaspersky to cease U.S. operations due to ban over national security concerns, impacting fewer than 50 employees.

The Independent UK

Kaspersky to shutter US operations after its software is banned by Commerce Department, citing risk

Cybersecurity firm Kaspersky says it’s shutting down all of its operations in the United States, just weeks after the Commerce Department banned the use of the company’s software in the country

International Business Times

US Trade Deficit Expands Less Than Expected In May: Govt

The US trade gap grew slightly less than expected in May, to the widest level since late 2022, government data showed on Wednesday, as exports and imports both slipped.

Roll Call

Treasury seeks tighter rules on US investment in China tech - Roll Call

The Treasury Department proposed further limiting U.S. investment flowing into China’s artificial intelligence and supercomputer technologies.

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International Business Times

US Fed's Favored Inflation Measure Cools Slightly In May

The US Federal Reserve's favored measure of inflation eased slightly in May, according to government data published Friday, as goods prices cooled.

The Independent UK

US economic growth for last quarter is revised up slightly to a 1.4% annual rate

The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, the government said in a slight upgrade from its previous estimate

International Business Times

US New Home Sales Come In Below Expectations In May

Sales of new homes in the United States were weaker than traders expected last month, according to government data published Wednesday, as mortgage rates remained high.

International Business Times

US Slaps Sanctions On Leaders Of Russia Software Firm Kaspersky

The United States unveiled sanctions Friday against 12 top leaders of the Russia-based cybersecurity firm Kaspersky Lab, a day after banning the sale of its popular antivirus software on national security grounds.

International Business Times

US Bans Russia's Kaspersky Antivirus Software

The United States on Thursday banned Russia-based cybersecurity firm Kaspersky from providing its popular antivirus products in the country on national security grounds, the US Commerce Department announced.

The Street

Fed rate-cut timing shifts after retail sales data

Consumer spending trends have investors recalculating when the Fed may start cutting interest rates.

International Business Times

US Trade Gap Widens To Largest In 18 Months

The US trade deficit expanded slightly less than analysts expected in April, to the widest since late 2022, as imports rose more quickly than exports, according to government data released Thursday.

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