Commerce News
Commerce
The Biden-Harris Administration announced that the U.S. Department of Commerce and Absolics, an affiliate of Korea-based SKC, have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $75 million in direct funding under the CHIPS and Science Act. This investment aims to support the construction of a 120,000 square-foot facility in Covington, Georgia, and the development of substrates technology for semiconductor advanced packaging.
Commerce
Commerce deputy secretary meets with advisory committee on renewable energy
On May 22, Deputy Secretary of Commerce Don Graves met with the Secretary’s Renewable Energy and Energy Efficiency Advisory Committee for the final meeting of its seventh charter. Deputy Secretary Graves expressed gratitude to the Committee for its recommendations over the course of its two-year charter.
Commerce
Biden administration reaffirms commitment to equity for AANHPI communities
Last week, U.S. Commerce Secretary Gina Raimondo and Deputy Secretary Don Graves delivered opening remarks at the Minority Business Development Agency’s (MBDA) second annual AANHPI Business Summit. They reiterated the Biden Administration’s commitment to an equitable and prosperous future for Asian American (AA) and Native Hawaiian, and Pacific Islander (NHPI) workers, entrepreneurs, and businesses.
Commerce
Department of Commerce ranks fourth in best federal workplaces for 12th year
The U.S. Department of Commerce has been ranked among the top five best places to work in the federal government for the 12th consecutive year, according to the 2023 Best Places to Work in the Federal Government rankings. The rankings were released by The Partnership for Public Service and Boston Consulting Group in collaboration with The Washington Post.
Commerce
President Biden takes action against China's unfair trade practices
President Biden is taking action to safeguard American workers and businesses from China's unfair trade practices, which threaten key sectors crucial for America's economic future and national security. These practices include issues related to technology transfer, intellectual property, and innovation. Additionally, China's strategy of flooding global markets with artificially low-priced exports has raised concerns. In response, President Biden has instructed his Trade Representative to raise tariffs under Section 301 of the Trade Act of 1974 on $18 billion worth of imports...
Commerce
US Secretary of Commerce comments on tariff increase on Chinese imports
U.S. Secretary of Commerce Gina Raimondo issued a statement on President Biden's decision to direct the United States Trade Representative to increase tariffs under Section 301 of the Trade Act of 1974 on $18 billion worth of imports from China. The move is aimed at protecting American workers and businesses.
Commerce
Secretary Raimondo announces speaker lineup for 2024 SelectUSA Investment Summit
U.S. Secretary of Commerce Gina Raimondo has announced the roster of global executives, business leaders, and senior U.S. government representatives who will participate in the 2024 SelectUSA Investment Summit. The event is scheduled to take place from June 23-26 at the Gaylord National Resort and Convention Center in National Harbor, Maryland.
Commerce
Biden-Harris administration announces preliminary terms with Polar Semiconductor
The Biden-Harris Administration has announced a preliminary memorandum of terms (PMT) with Polar Semiconductor, in which the U.S. Department of Commerce may provide up to $120 million in federal incentives under the CHIPS and Science Act. This proposed funding is expected to spur investment from private and state sources to expand Polar's manufacturing facility and introduce new technology capabilities in Bloomington, Minnesota.
Commerce
Deputy Secretary of Commerce addresses National Association of District Export Councils
Deputy Secretary of Commerce Don Graves addressed the National Association of District Export Councils’ Annual Export Conference on May 13, 2024. He expressed his gratitude to Jonathan, Vice-Chair Anne Burkett, and their team for organizing the event. He also acknowledged the significant role played by the District Export Councils (DECs) in promoting understanding of exporting value and providing essential support to local trade ecosystems.
Commerce
U.S. Department of Commerce begins implementation of internet routing security
The U.S. Department of Commerce's National Telecommunications and Information Administration (NTIA), in collaboration with several other bureaus within the department, has begun implementing a significant Internet routing security measure. This initiative is aimed at enhancing cybersecurity across the department and fulfills a key priority from the National Cybersecurity Strategy.
Commerce
Secretary Raimondo discusses investment ties with UAE's Minister Alsuwaidi
Secretary of Commerce Gina Raimondo held a meeting with His Excellency Mohamed bin Hassan Alsuwaidi, the Minister of Investment of the United Arab Emirates, yesterday. The focus of their discussion was on shared investment priorities and potential avenues to expand commercial and investment ties between the United States and the United Arab Emirates.
Commerce
Suggested headline: National Hurricane Preparedness Week Encourages Early Planning and Awareness
National Hurricane Preparedness Week
Commerce
CHIPS for America Announces $285 million Funding Opportunity for a Digital Twin and Semiconductor CHIPS Manufacturing USA Institute
The Biden-Harris Administration has announced a significant funding opportunity for the establishment of a CHIPS Manufacturing USA institute focused on digital twins for the semiconductor industry. The initiative, with an anticipated funding of up to $285 million, aims to advance research and development in semiconductor manufacturing processes by leveraging digital twin technology.Secretary of Commerce Gina Raimondo highlighted the importance of investing in America's understanding and utilization of digital twin technology, stating, "Digital twin technology can help to...
Commerce
NOAA Breaks Ground on New Marine Operations Center Facility in Rhode Island
NOAA broke ground on a new Marine Operations Center facility in Newport, Rhode Island, with funding from President Biden's Investing in America Agenda. The groundbreaking ceremony took place at Naval Station Newport, where the future home of the NOAA Marine Operations Center-Atlantic will be located.U.S. Secretary of Commerce Gina Raimondo expressed gratitude for the transformative investments being made, stating, "President Biden’s Investing in America Agenda made it possible for NOAA to construct this new facility and make advances in critical climate and ocean...
Commerce
U.S. Department of Commerce Launches CHIPS Women in Construction Framework with Commitments from Intel and Micron
The U.S. Department of Commerce has launched the CHIPS Women in Construction Framework, a set of best practices aimed at increasing the participation of women and economically disadvantaged individuals in the construction workforce. As part of this initiative, Intel Corporation and Micron Technology have made voluntary commitments to the Framework.U.S. Secretary of Commerce Gina Raimondo emphasized the importance of increasing the number of women in construction, stating, "If we are going to meet the national and economic security imperatives of the CHIPS Program, we are...
Commerce
U.S. Department of Commerce Celebrates World Trade Month 2024
May 1, 2024Today, U.S. Secretary of Commerce Gina Raimondo emphasized the significance of international trade in fostering economic growth and resilience, as the Biden-Harris Administration marked the commencement of World Trade Month.“International trade is essential to our nation’s economic growth and helps Americans build more resilient businesses and communities,” said Secretary Raimondo.During the month-long celebration of World Trade Month, the Commerce Department is set to underscore and reinforce the administration's dedication to enhancing economic...
Commerce
U.S. Department of Commerce Directed More than Half of Federal Contract Dollars to Small Businesses in FY2023
The Department of Commerce announced that in Fiscal Year 2023, more than half of its federal contract dollars were awarded to small businesses, totaling $2.8 billion. Additionally, over 25% of contract dollars were directed to Small Disadvantaged Businesses, amounting to $1.4 billion. This achievement led to the Department of Commerce receiving an “A+” rating from the Small Business Administration for its small business contracting efforts, marking the 8th consecutive year of such recognition."Small businesses power America’s economy and are a crucial driver of employment...
Commerce
Publication of U.S. Government-Funded Carbon Capture, Utilization, and Storage Handbook for Policymakers
The Department of State’s Bureau of Energy Resources (ENR) and the Department of Commerce’s Commercial Law Development Program (CLDP) have jointly announced the launch of the Carbon Capture, Utilization, and Storage: Handbook for Policymakers. This handbook aims to empower policymakers to deploy carbon capture, utilization, and storage capabilities effectively.Geoffrey R. Pyatt, Assistant Secretary of ENR, highlighted the importance of the handbook, stating, "This Handbook is a guide to empower legislators, ministries, regulators, and state-owned companies to adopt and...
Commerce
Deputy Secretary of Commerce and Liechtenstein Deputy Prime Minister Discuss Bilateral Trade and Cooperation
WASHINGTON, DC – Today, Deputy Secretary of Commerce Don Graves met with Liechtenstein Deputy Prime Minister Sabine Monauni to discuss various aspects of bilateral relations between the two countries."During the meeting, the Deputy Secretary and Deputy Prime Minister talked about the U.S.-Liechtenstein commercial relationship and opportunities to deepen trade and investment ties."In addition to this, "the two also discussed a recently established memorandum of understanding that will deepen bilateral cooperation between our countries to promote professional...
Commerce
Secretary Raimondo and Singaporean Minister Gan Kim Yong Discuss Bilateral Cooperation
Secretary of Commerce Gina Raimondo expressed her support for Singapore's transition to its fourth generation of political leadership during a meeting with Singaporean Minister of Trade and Industry Gan Kim Yong. The two officials affirmed their commitment to advancing bilateral cooperation under the U.S.-Singapore Partnership for Growth and Innovation (PGI).The discussion between Secretary Raimondo and Minister Gan also focused on the potential for collaboration to enhance semiconductor supply chain resilience and support Micro, Small, and Medium-sized Enterprises in...
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