News and reports from the Department of Commerce.

Commerce Secretary Gina Raimondo addressed the inaugural National Child Care Innovation Summit on June 28, 2024. In her remarks, she emphasized the economic implications of childcare, describing it as a critical issue affecting families, businesses, and communities.

Achieving the full potential of the U.S. economy requires that every American entrepreneur can start and grow their business regardless of background. Yet some communities face disproportionate barriers to the resources needed to turn their entrepreneurial dreams into reality. For example, the U.S. Federal Reserve found that more than half of Black-owned businesses were turned down for bank loans, a rate twice as high as white business owners. Black-owned businesses received less than 1 percent of venture dollars and Latino/a-owned businesses received less than 2 percent in...

In honor of Pride Month, Commerce Secretary Gina Raimondo and Deputy Secretary Don Graves joined Commerce employees earlier this month in raising the Progress Pride Flag outside the Commerce Department building. Flown throughout June, the flag celebrates the diversity of the LGBTQI+ community.

Since its founding in 1969 by President Nixon, the Minority Business Development Agency (MBDA) has been dedicated to promoting the growth of minority business enterprises through public and private sector programs, policy, and research. This mission is based on the understanding that achieving the full potential of the U.S. economy requires enabling every American entrepreneur to start and grow their businesses regardless of background.

U.S. Department of Commerce Secretary Gina Raimondo and Korean Minister of Trade, Industry, and Energy Ahn Duk-geun convened the second United States-Korea Supply Chain and Commercial Dialogue (SCCD) Ministerial Meeting on June 27, 2024. The meeting reviewed progress in deepening bilateral economic and commercial cooperation.

The 10th SelectUSA Investment Summit concluded yesterday, marking the largest event in its history with over 5,000 attendees from 96 international markets and representation from all 56 U.S. states and territories for the first time.

According to new survey data from the Federal Reserve’s 2023 Survey of Household Economics and Decisionmaking (SHED), low-income families are more likely to reduce work to care for young children, while high-income families are more likely to pay for care. These differing decisions have financial consequences, as families who reduce work are less well off financially than those who do not. Although families who pay for care are better off overall, child care costs remain a notable expense. On average, families who pay for care spend about half as much on that care as they do...

The U.S. Department of Commerce, in collaboration with the U.S. Chamber of Commerce and the U.S. Chamber of Commerce Foundation, hosted a National Child Care Innovation Summit on June 27, 2024. The event gathered hundreds of public- and private-sector stakeholders from over 40 states to discuss child care as essential economic infrastructure and explore solutions for accessible, affordable, and high-quality child care.

U.S. Secretary of Commerce Gina Raimondo and Japanese Minister of Economy, Trade, and Industry Ken Saito convened a ministerial meeting today under the Japan-United States Commercial and Industrial Partnership (JUCIP). During the session, both officials expressed significant concern over the weaponization of economic dependencies and non-market policies affecting strategic goods supply sources.

Minister Ahn, Minister Saito, it is my honor to welcome you to the United States Department of Commerce. Thank you for being here for the first-ever U.S.-Japan-Korea Commerce and Industry Ministerial.

U.S. Secretary of Commerce Gina Raimondo convened with European Commission Executive Vice President Margrethe Vestager, Japanese Minister of Economy, Trade and Industry Saito Ken, and Republic of Korea Minister of Trade, Industry and Energy Ahn Duk-geun today to deliberate on the significance of trustworthy and resilient supply chains in key sectors.

U.S. Secretary of Commerce Gina Raimondo, Japanese Minister of Economy, Trade, and Industry Saito Ken, and Republic of Korea (ROK) Minister of Trade, Industry, and Energy Ahn Duk-geun convened in Washington for the inaugural meeting of Commerce and Industry Ministers. The meeting aligns with the vision set by their leaders at the Trilateral Summit at Camp David on August 18, 2023.

The Biden-Harris Administration announced a preliminary memorandum of terms (PMT) with Entegris to onshore supply chain materials for advanced chip production. The Department of Commerce and Entegris, a supplier of advanced materials for chipmakers, reached an agreement involving up to $75 million in proposed federal incentives under the CHIPS and Science Act.

The U.S. Department of Commerce announced the expansion of SelectTalentUSA, a collaborative initiative with the Departments of Labor and Education, aimed at providing technical assistance to foreign businesses for recruitment and training programs within their U.S. workforce. This expansion now includes clients from Japan, South Korea, and Taiwan, specifically targeting semiconductor and supply chain firms looking to establish or expand operations in the United States.

Wisconsin-based companies Miron and Boldt have joined a growing list of construction industry leaders, including Bechtel and Turner, in supporting the Million Women in Construction Community Pledge. On Friday, U.S. Secretary of Commerce Gina Raimondo traveled to Milwaukee to join Governor Tony Evers and the Wisconsin Regional Training Partnership WRTP | BIG STEP for a roundtable on women in construction and trades. During the event, she called on Wisconsin companies, unions, and training organizations to sign the pledge aimed at increasing women's participation in the...