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Commerce Secretary Gina Raimondo proudly held up the progress of American industry on semiconductor manufacturing Sunday, declaring that the U.S. has “out-innovated” China as the two nations fight to advance their domestic technology manufacturing. Semiconductor manufacturing has been a major priority of President Biden’s domestic policy, with Raimondo at the head. Biden has repeatedly held…
Commerce Secretary Gina Raimondo signaled the U.S. would support and encourage growth of the Chinese economy, as long as China “plays by the rules” Tuesday. “I think that a growing China, which plays by the rules, is a good thing for China, a good thing for America and a good thing for the world,” Raimondo…
“Biden officials admit inflation is a problem, blame COVID, Ukraine war” Biden administration officials admitted Sunday that Americans are suffering from soaring inflation — but continued to blame COVID supply-chain problems, oil-company greed and the war in Ukraine. “Inflation’s a problem. I will grant you that, and we will get it under control because we’re…
“Roman Abramovich plane, 99 others grounded for violations of Russian sanctions” The US Commerce Department on Friday will move to effectively ground 100 airplanes that have recently flown to Russia and are believed to violate US export controls, including a plane used by Russian businessman Roman Abramovich, officials told Reuters. The list, seen by Reuters,…
“#Inflation hits highest level in 39 years as consumer prices jump” The inflation rate is running at its hottest pace in nearly four decades, as widespread supply disruptions, high consumer demand and worker shortages fuel a surge in prices. Consumer prices soared by 5.7 percent in the year through November, according to the Personal Consumption…
“#Trump order bans transactions with eight Chinese apps” President Trump on Tuesday signed an executive order banning transactions with eight Chinese software applications, including Ant Group’s Alipay, a senior administration official said, escalating tensions with Beijing before President-elect Joe Biden takes office this month. The order, first reported by Reuters, tasks the Commerce Department with…
“#US retail spending slowed in November as COVID spooked shoppers” US retail sales slumped in November — the second consecutive monthly decline — as the growing number of coronavirus cases spooked shoppers across the country. Retail sales dropped by 1.1 percent in November after slipping 0.1 percent in October, the Commerce Department said on Wednesday….
“#Feds back down on threat to shut down TikTok in US” The feds have backed down on their threat to ban TikTok — for now. The Commerce Department has decided not to enforce an order that would have shut down the popular short-video app in the US amid a court battle over the move. The…