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The U.S. Department of Commerce has unveiled a series of new initiatives in response to President Biden's Executive Order on AI, marking significant progress in AI development and regulation. Secretary of Commerce Gina Raimondo emphasized the department's commitment to transparency and stakeholder feedback in this endeavor.Under the leadership of U.S. Secretary of Commerce Gina Raimondo, the National Institute of Standards and Technology (NIST) has introduced four draft publications aimed at enhancing the safety, security, and trustworthiness of AI systems. Laurie E....
Commerce
Department of Commerce Restricts Export of All Firearms to Non-Government Entities in High-Risk Countries
The U.S. Department of Commerce’s Bureau of Industry and Security (BIS) took a significant step today by releasing an interim final rule (IFR) that amends the Department’s licensing policy for exports of firearms, ammunition, and related components under its jurisdiction. The changes announced are aimed at reducing the risk of legally exported firearms and related items being diverted or misused to fuel various illicit activities that threaten U.S. national security and foreign policy interests.U.S. Commerce Secretary Gina Raimondo emphasized the importance of these...
Commerce
Secretary Raimondo Highlights Public-Private Partnerships in Kenya to Deepen Bilateral Commercial Ties
U.S. Secretary of Commerce Gina Raimondo led members of the President’s Advisory Council on Doing Business in Africa (PAC-DBIA) to Nairobi, where she emphasized the impact of the Commerce-wide Africa strategy. During an event at the AmCham East Africa Business Summit, Secretary Raimondo announced U.S. private sector commitments and public-private partnerships aimed at strengthening bilateral commercial ties."I chose Kenya for my first official trip to Africa because of the strength of our relationship and because there is so much more our two nations can do together,"...
Commerce
U.S. Secretary of Commerce Meets with Kenyan President to Strengthen Trade and Investment Ties
Today, U.S. Secretary of Commerce Gina Raimondo met with Kenyan President William Ruto to underscore the Biden-Harris Administration’s commitment to partnering with Kenya to deepen bilateral trade and investment ties.During the meeting, Secretary Raimondo praised President Ruto's efforts to enhance Kenya's business environment and attract more U.S. investment, stating, "The Secretary acknowledged the significant efforts that President Ruto’s Administration has made to improve Kenya’s business environment and attract increased U.S. investment in the country."...
Commerce
Biden-Harris Administration Announces Preliminary Terms with Micron to Onshore Leading-Edge Memory Chip Production in U.S. for First Time in Decades
The Biden-Harris Administration, in partnership with Micron Technology, has unveiled a groundbreaking initiative to bolster U.S. competitiveness in leading-edge memory semiconductor production. The U.S. Department of Commerce has proposed up to roughly $6.14 billion in direct funding for Micron to expand domestic DRAM chip production in Idaho and New York, creating approximately 20,000 jobs and catalyzing up to $125 billion in private capital over the next two decades."Leading-edge memory chips are foundational to all advanced technologies, and thanks to President Biden’s...
Commerce
U.S. Commerce Secretary Raimondo Meets with Kenya's Cabinet Secretary for Investment, Trade, and Industry
NAIROBI, Kenya – Today, U.S. Secretary of Commerce Gina Raimondo engaged in discussions with Kenya’s Cabinet Secretary for Investment, Trade, and Industry, Rebecca Miano. The meeting focused on exploring opportunities to enhance bilateral commercial ties across various sectors. The discussions encompassed the digital economy, infrastructure, agriculture, clean energy, critical minerals, and artificial intelligence.During the meeting, Secretary Raimondo commended Kenya's progress in digital transformation, stating, "Kenya as a leader on the continent on digital...
Commerce
Secretary Raimondo Meets Kenyan Women Tech Leaders to Discuss Digital Transformation
NAIROBI, Kenya – Today, U.S. Secretary of Commerce Gina Raimondo engaged in a roundtable discussion with prominent women technology leaders in Kenya. The meeting centered on the Biden-Harris Administration’s Digital Transformation with Africa initiative.During the discussion, participants highlighted both the successes and challenges faced by women entrepreneurs and technology leaders in Kenya's digital sector. Secretary Raimondo emphasized the potential opportunities that the Digital Transformation with Africa programming could bring to the region. She also underlined...
Commerce
Secretary Raimondo and Deputy Secretary Graves Honors Denim Day
Secretary Raimondo and Deputy Secretary Graves have honored Denim Day as part of the ongoing efforts to raise awareness about sexual assault and harassment. The event took place in April, which is recognized as Sexual Assault Awareness and Prevention Month.Denim Day is a global initiative that aims to educate and inform people about sexual violence, challenging misconceptions and victim-blaming attitudes. Participants are encouraged to wear denim as a symbol of solidarity with survivors and a rejection of sexual violence.In a statement, Secretary Raimondo and Deputy...
Commerce
5x5 Summit: Commerce Agencies Work Together to Advance Public Safety Communications
The upcoming 5x5: The Public Safety Innovation Summit in Chicago from June 25-27 will see the collaboration of two key U.S. Department of Commerce agencies to advance public safety communications technology.The First Responder Network Authority (FirstNet Authority) and the National Institute of Standards and Technology Public Safety Communications Research Division (NIST PSCR) have been working together for over a decade on various projects aimed at enhancing public safety innovation and technology development.The summit aims to bring together leaders in public safety,...
Commerce
U.S. and Kenya Partner to Enhance Digital Economy and AI Innovation
U.S. Secretary of Commerce Gina M. Raimondo and Kenyan Cabinet Secretary of Information, Communication and the Digital Economy Eliud Owalo have come together to announce a partnership aimed at harnessing AI, facilitating data flows, and empowering digital upskilling. The joint statement released by the United States Department of Commerce and the Kenyan Ministry of Information, Communication, and the Digital Economy highlighted their shared commitment to strengthening the digital economy and promoting innovation between the two nations.During the AmCham Business Summit:...
Commerce
Readout of Secretary Raimondo’s Meeting with Italian Prime Minister Giorgia Meloni
U.S. Secretary of Commerce Gina Raimondo held a meeting with Italian Prime Minister Giorgia Meloni to delve into various aspects of the U.S.-Italy commercial relationship and cooperation within the G7. The discussions also touched upon critical transatlantic issues of concern.During the meeting, Secretary Raimondo emphasized the importance of the U.S.-Italy commercial relationship, stating, "Today, U.S. Secretary of Commerce Gina Raimondo met with Italian Prime Minister Giorgia Meloni to discuss the U.S.-Italy commercial relationship and cooperation within the G7."...
Commerce
NOAA Expands HeatRisk Tool to Combat Extreme Heat Events
Deputy Secretary of Commerce Don Graves commended the efforts of the National Oceanic and Atmospheric Administration (NOAA) in tackling the challenges posed by extreme heat events during a press event held on April 23, 2024. Graves expressed gratitude towards Dr. Spinrad and the entire NOAA team for their contributions to the event and highlighted the importance of NOAA's work in building a climate-ready nation.Graves emphasized the increasing impact of extreme heat waves on millions of Americans, attributing their intensity, frequency, and duration to climate change. He...
Commerce
Commerce Employees Celebrate Earth Day with Outdoor Activities and Environmental Initiatives
Commerce employees are celebrating Earth Day with enthusiasm and dedication to environmental causes. The Office of Sustainable Energy and Environmental Programs (OSEEP) expressed its joy on this special day, stating, "Happy Earth Day from the Office of Sustainable Energy and Environmental Programs (OSEEP)!"In a show of commitment to sustainability, many employees have been actively engaging in outdoor activities and taking steps to reduce plastic waste. OSEEP remarked, "It's inspiring to see so many Commerce employees embracing the great outdoors and making efforts to...
Commerce
Readout of Secretary Raimondo’s Meeting with Ukrainian Prime Minister Denys Shmyhal
Secretary of Commerce Gina Raimondo met with Ukrainian Prime Minister Denys Shmyhal ahead of the second Ukraine Partnership Forum. During the meeting, Secretary Raimondo reiterated the Department of Commerce’s continued support for Ukraine as it defends itself against Russian aggression. She updated the Prime Minister on the Department’s engagement with the U.S. private sector on Ukraine’s defense and reconstruction objectives.The two also discussed the Department’s work with partners in coordinating export controls and restricting sales of advanced technologies to...
Commerce
Science of AI Safety partnership created between the United States and the United Kingdom
The United States and the United Kingdom have embarked on a collaborative venture focusing on the Science of AI Safety. This partnership will see the two nations' Safety Institutes joining forces to conduct research, safety evaluations, and provide guidance for AI safety within their respective countries.
Commerce
Trade and Technology Council Task Force has concluded its work
The United States - European Union Trade and Technology Council Talent for Growth Task Force has completed its work. Although the Task Force's activities, announced in December 2022, have come to an end, collaboration from the private sector continues.
Commerce
Pet product expenditures totaled $147B in 2023, APPA report shows
In 2023, U.S. consumers expended $147 billion on pet products and services, as reported by the American Pet Products Association (APPA). The association also predicts steady year-over-year growth through 2030, with anticipated expenditures reaching a staggering $250 billion.
Commerce
Former USPTO Chief David Kappos Discusses Role of Intellectual Property in Modern Economy
David Kappos is a partner at Cravath, Swaine and Moore. He is also the former undersecretary for intellectual property at the US Department of Commerce and former head of the US Patent and Trademark Office.
Commerce
Mortgage Bankers Association's index shows homebuyer affordability decreased in February
The Mortgage Bankers Association's (MBA) Purchase Applications Payment Index (PAPI) data for February indicates a rise in the monthly cost of home ownership. The national median payment applied for by purchase applicants escalated from $2,134 in January to $2,184 in February.
Commerce
American Bankers Association forecast reveals lower risk of recession with inflation moderating
The Economic Advisory Committee of the American Bankers Association (ABA) this week released a forecast indicating a decreased risk of recession, with inflation expected to moderate and employment gains to remain strong. The committee also predicts a transition to a soft easing cycle by the Federal Reserve, commencing around mid-year.
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