Commerce News Updates

The panel with jurisdiction over freight policy voted 16-12 to report Howard Lutnick’s nomination to the full Senate. Sen. John Fetterman (D-Pa.) joined Republicans in support.

Oil fell below $73 a barrel after President Donald Trump’s pick for commerce secretary suggested tariffs on Canada and Mexico are not a done deal.

Lutnick is a co-chair of Trump’s transition team, along with Linda McMahon, the former wrestling executive who previously led Trump’s Small Business Administration.

Sunnyvale, Calif., will host both a research and development semiconductor facility and serve as joint headquarters for Natcast and the National Semiconductor Technology Center.

WASHINGTON — Americans stepped up their purchases at retailers last month as low unemployment, steady pay gains and rising stock and home values helped sustain their willingness to spend.

The determination marks an early victory for domestic panel makers who say cheap imports harm their operations and threaten investments meant to cultivate a U.S. solar supply chain.

WASHINGTON — The economy expanded at a healthy 3% annual pace from April through June, boosted by strong consumer spending and business investment, the government said Sept. 26.

The U.S. trade deficit widened to a two-year high in July, fueled by a surge in imports of goods and stepped-up efforts to ensure adequate supply ahead of a potential dockworkers strike.

WASHINGTON — An inflation measure tracked by the Federal Reserve remained low, extending a trend of cooling price increases that clears the way for the Fed to start cutting its key interest rate.

Commerce Secretary Gina Raimondo recently announced the award as part of $6.9 million in economic development grants to Texas for workforce training and port improvements.