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The Latest Breaking News from the Commerce Department

Lutnick tapped to lead Commerce Department under Trump 2.0 - Roll Call

President-elect Donald Trump chose billionaire Howard Lutnick, co-chair of his transition team, to lead the Commerce Department.

Roll Call

Commerce Department finalizes $6.6 billion in chips subsidies for TSMC

Only about 10% of the world’s semiconductors are manufactured in the U.S.

Fortune

Americans continue to spend despite naming the economy and inflation as top election concerns

A 1.6% jump in sales at auto dealers drove much of the gain of consumer spending in October

The Independent UK

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US Restricts TSMC's Export Of Advanced Chips To China: Report

The new order, set to take effect on Monday, comes weeks after TSMC notified the Commerce Department that one of its chips had been found in a Huawei AI processor.

International Business Times

US Congressman accuses SMIC of making 7nm chips for China, violating U.S. sanctions

Michael McCaul accuses SMIC of evading U.S. sanctions, helping Huawei, calls for investigation and more stringent export controls.

Tom’s Hardware

Trump's Top Contenders to Lead His Next Situation Room, According to Reports

A long standing list of individuals Donald Trump and his personnel operations team are considering for appointments in the West Wing and the Situation Room.

International Business Times

US Fines Chipmaker $500,000 For Selling To Blacklisted Chinese Company

GlobalFoundries sent SJ Semiconductor 74 shipments worth $17.1 million without seeking a license, the Commerce Department said.

International Business Times

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US Fed's Favored Inflation Gauge Cools In September

The US Federal Reserve's preferred inflation measure cooled further last month and now sits just above its long-term target, according to government data published Thursday, shortly before the presidential election.

International Business Times

Sales Of New US Homes At Highest Level In Over A Year

Sales of new homes in the United States last month exceeded analyst expectations Thursday, logging the fastest pace in more than a year on the back of cooler mortgage rates.

International Business Times

U.S. Seeks to Ban Powersport Manufacturer CFMoto, Just Like TikTok and Others

Last week, the Commerce Department proposed new rules that would ban "connected vehicles" with ties to China and Russia by model year 2027.

RideApart

Inflation Continues To Cool, Paving Way For More Interest Rate Cuts

The Federal Reserve's preferred inflation measure rose just 0.1% in August, according to Commerce Department data

International Business Times

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.

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The Independent UK

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

International Business Times

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.

Tom’s Hardware

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.

International Business Times

Dow Hits Yet Another Record High

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

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Tom’s Hardware

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.

International Business Times

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.

Fortune

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.

Tom’s Hardware

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.

International Business Times

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.