Commerce News
Commerce
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
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...
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
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.
Commerce
Travel leaders converge on Capitol Hill for U.S.Travel Association's legislative fly-in
Last week, hundreds of travel delegates from across the United States gathered on Capitol Hill for the U.S. Travel Association’s (USTA) legislative fly-in, Destination Capitol Hill. Armed with data and a set of requests, they sought to engage lawmakers in their cause.
Commerce
President Biden's fiscal year 2025 budget will help boost American innovation
President Biden's proposed budget for the 2025 fiscal year aims to bolster American innovation and competitiveness, with a particular focus on the U.S. Department of Commerce. The budget outlines $4 billion in mandatory funding and $11.4 billion in discretionary funding, earmarked to support the essential priorities of the Commerce Department.
Commerce
Intel awarded $8.5 billion in support of growing the US Semiconductor Industry
The U.S. Department of Commerce has granted Intel a sum of $8.5 billion through the Investing in America Agenda for initiating projects in Arizona, New Mexico, Ohio, and Oregon. This investment, facilitated under the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act, aims to fortify the supply chain of the U.S. Semiconductor Industry as the nation seeks to broaden its domestic market.
Commerce
Taxpayers Protection Alliance President: ‘Absolutely ridiculous’ that ‘Congress has no oversight’ of CFPB
David Williams, president of the Taxpayers Protection Alliance (TPA) said it is “absolutely ridiculous” that “Congress has no oversight” of the Consumer Financial Protection Bureau (CFPB).
Commerce
Plastics Industry Association releases tenth video in its 'Recycling is Real' campaign
The Plastics Industry Association (PLASTICS) has unveiled the tenth video in its "Recycling is Real" campaign. The campaign aims to promote and raise awareness about plastic recycling in the United States.
Commerce
AFSA President: ‘All we’re asking is that the CFPB fulfill its responsibility and give us clear rules to follow’
The president and CEO of the American Financial Services Association (AFSA) today asked the Consumer Financial Protection Bureau (CFPB) to use “the well-accepted administrative rulemaking process” instead of what he said are “one-off and nontransparent enforcement proceedings.”
Commerce
Funding for US semiconductor packaging is being expanded under the CHIPS for America Act
The U.S. Department of Commerce has declared that the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act is allocating funds to provide opportunities for companies to expand U.S. Semiconductor Packaging. The fresh funding aims to solicit applications for research and development that will aid in expediting the domestic capacity for advanced packaging substrates, a critical technology for manufacturing semiconductors.
Commerce
ATA's Intermodal Motor Carriers Conference welcomes rule clarifying how detention and demurrage charges are billed
The Intermodal Motor Carriers Conference (IMCC) of the American Trucking Association (ATA) has expressed approval for a new rule by the Federal Maritime Commission (FMC). This rule provides clarification on how shippers are billed for detention and demurrage charges. Both the IMCC and ATA had previously urged Congress to provide this clarification during the passage of the Ocean Shipping Reform Act in 2022.
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