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The Latest Breaking News from the Commerce Department

Cynthia Lummis Says Publishing US GDP Data On Blockchain Is A 'Historic Move' — Thanks Trump, Lutnick For Leadership

Cryptocurrency supporters hailed on Thursday the U.S. government's move to post GDP numbers on several blockchain platforms.

Benzinga

Boost for Trump as US growth revised higher in Q2

The US economy rebounded this spring from a first-quarter downturn caused by fallout from President Donald Trump's trade wars.

Euronews

U.S. gov't seizes $7.4 billion semiconductor research fund created under Biden admin, calling it 'illegal' — Lutnick says fund 'served as a semiconductor slush fund that did nothing but line the pockets of Biden loyalists with American tax dollars'

The US Commerce Department of the Trump administration has pulled back billions of dollars in funding for a non-profit aimed at promoting US chip design and fabrication, suggesting that its appointment under the Biden administration somehow made it inappropriate for distributing taxpayer funds.

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Trump's Steel Tariffs Now Apply to Milk and Hundreds of Other Products That Aren't Steel

It makes little sense, but that's what happens when you give the president unchecked, unilateral tariff powers.

Reason

Trump says undocumented immigrants will not be counted in new US Census

US president says he directed the Commerce Department to immediately work on a ‘new and highly accurate’ survey.

Al Jazeera

Alleged 3-person smuggling operation accused of shifting tens of millions of dollars’ worth of AI chips to China potentially faces up to 20-year prison sentence

The defendants allegedly received $1 million payments from China-based companies.

PC Gamer

Nvidia H20 GPUs reportedly caught up in U.S. Commerce Department's worst export license backlog in 30 years — billions of dollars worth of GPUs and other products in limbo due to staffing cuts, communication issues

The U.S. Commerce Department is so behind on approving export licenses that billions of dollars worth of GPUs and other products are stuck in limbo waiting to be shipped, in the worst case of license stalling in over 30 years.

Tom’s Hardware

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Nvidia seeks extra 300,000 H20 GPUs to meet China's surging AI demand — places order with TSMC to meet unexpectedly strong interest

Nvidia has ordered 300,000 H20 GPUs from TSMC as Chinese demand surges, despite political backlash over national security risks. The U.S. still hasn’t approved export licenses, but Nvidia aims to retain its foothold in China’s AI market, where rivals like Huawei are gaining ground.

Tom’s Hardware

Trump Administration Weighs 'Paradigm Shift' In Patent System To Raise Billions In Revenue: Report

The Trump administration is contemplating a significant revamp of the U.S. patent system, which could potentially generate tens of billions of dollars in revenue.

Benzinga

Enterprise Products: Trump “weaponizing” ethane exports to China backfires against U.S.

About half of all ethane exports go to China to feed its petrochemical manufacturing industry.

Fortune

First Solar, Other US Solar Firms Urge Trump Administration To Impose Tariffs On Solar Cell Imports From Indonesia, India, Laos

A group of U.S. solar panel manufacturers has called on the Commerce Department to impose tariffs on imports from Indonesia, India, and Laos. The manufacturers allege that these countries are saturating the market with low-cost goods.

Benzinga

The U.S. Would Need To Plant Up to 250,000 More Acres of Tomatoes To Replace Those Imported from Mexico

According to one analyst, the U.S. would need between 42,000 and 250,000 more acres growing tomatoes to replace Mexican imports.

Reason

US imposes a 17% duty on fresh Mexican tomatoes in hopes of boosting domestic production

The U.S. government says it's placing a 17% duty on most fresh Mexican tomatoes after negotiations ended without an agreement to avert the tariff

The Independent UK

Texas lawmakers urge Trump to extend tomato trade agreement with Mexico

The 1996 agreement is set to expire Monday, which could raise the price of Mexican tomatoes and threaten thousands of Texas jobs.

The Texas Tribune

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The Independent UK

Trump appointees have ties to companies that stand to benefit from privatizing weather forecasts

Downsizing at the National Weather Service appears to be part of an effort by Republicans to privatize such agencies

Fortune

Consumers saw a double whammy of bad news in May, pulling back on spending as inflation heated up

The economic bad vibes are hitting home.

The Independent UK

Key inflation gauge rose last month while Americans cut back on spending

A key inflation gauge moved higher in May in the latest sign that prices remain stubbornly elevated while Americans cut back on their spending

The Independent UK

The Latest: Hegseth praises US attack on Iran but offers few details on the strikes’ impact

Defense Secretary Pete Hegseth and Gen. Dan Caine held a news conference to respond to an early leaked intelligence report suggesting U.S. strikes against Iran likely put the country back mere months

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The Independent UK

U.S. economy shrank 0.5% between January and March, worse than earlier estimates revealed

The U.S. economy shrank at a 0.5% annual pace from January through March as President Donald Trump’s import taxes at least temporarily disrupted business, the Commerce Department reported Thursday in a a downgrade from its previous estimate

Reason

Trump Is Slapping a 50 Percent Tariff on Home Appliances

Refrigerators, freezers, dishwashers, washing machines, and dryers are among the products subject to the president’s 50 percent tariff on imports derived from aluminum and steel.

Fortune

As China restricts rare earths, Trump targets ethane in plastics manufacturing blow

Trump administration denies ethane exports to China in trade war escalation.

Roll Call

Biden alums could boost their House ranks in midterm elections - Roll Call

A handful of federal employees who helped carry out the Biden administration’s policy priorities are seeking House seats in 2026.

International Business Times UK

Khanna Criticises Trump-Backed AI Project to Open Data Center in Dubai, OpenAI Set to Assist

Ro Khanna criticises Trump's UAE AI data centre deal, suggesting it should be in the US. OpenAI may assist the UAE in a massive Dubai data centre, potentially the world's largest.

The Conversation

Tomato trade dispute between the US and Mexico is boiling over again – with 21% tariffs due in July

Although technically they’re a fruit, tomatoes are one of the most-consumed vegetables, according to the U.S. Department of Agriculture. Among the fresh produce the nation buys from foreign countries, tomatoes often rank first or second, behind avocados.

International Business Times

US Reverses Biden-era Export Controls On Advanced AI Chips

The United States rescinded further export controls Tuesday on advanced computing semiconductors, answering calls by countries that said they were being shut out from crucial technology needed to develop artificial intelligence.

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