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The Latest Breaking News from Commerce Department

US economy slowed but still grew at 2.9% rate last quarter

The U.S. economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of high interest rates and widespread fears of a looming recession

The Independent UK

Key inflation gauge cools, US consumer spending misses forecasts

The Federal Reserve’s preferred inflation measures eased in November while consumer spending stagnated, suggesting the central bank’s interest-rate hikes are helping to cool both price pressures and broader demand — with more tightening on the way.

Tribune News Service

An inflation meaasure watched by the Fed eases to 5.5%

A measure of inflation closely watched by the Federal Reserve slowed last month, another sign that a long surge in consumer prices seems to be easing

The Independent UK

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China Trying To Fight Back US Ban on Its Chip Industry

On Thursday, the U.S. government broadened its crackdown on China’s chip industry by adding memory chipmaker YMTC and 21 “major” Chinese players in the artificial intelligence chip sector to a Commerce Department trade blacklist.

The News Lens

US to expand solar panel tariffs after probe finds Chinese evasion

The United States will impose new duties on imports from some major Chinese solar panel makers after a months-long investigation found they were trying to dodge tariffs by finishing their products in Southeast Asian countries, trade officials said on Friday.

Bangkok Post

US inflation indicator rises by less than forecast as spending increases

A key gauge of U.S. consumer prices posted the second-smallest increase this year while spending accelerated, offering hope that the Federal Reserve’s interest-rate hikes are cooling inflation without sparking a recession.

Tribune News Service

US Stocks In For Another Tough Day After Fed Rate Hike As Nasdaq, S&P 500 Futures Fall — Roku, Qualcomm Plunge On Earnings Disappointment

The U.S. index futures are pointing to a lackluster start on Wall Street Thursday, as rate worries linger. On Wednesday, the major averages experienced a bout of volatility in the aftermath of the Fed decision and closed notably lower. The market showed tentativeness in the run up to the Fed…

Benzinga

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Chip makers offer big investments as they jockey for federal aid

WASHINGTON — The world’s top semiconductor makers have announced in recent months long-term U.S. investments that could rise to more than $400 billion, citing support from a new federal aid program for which the rules have yet to be written.

Tribune News Service

Chipmakers offer big investments as they jockey for federal aid - Roll Call

The jockeying for federal money for semiconductor manufacturing has begun as global producers announce big investment plans.

Roll Call

Why semiconductors are central to world economy, geopolitics

The Chinese Communist Party Congress opens in Beijing on October 16, a week after Washington imposed tight restrictions on exports of invaluable semiconductor technology to China in a bid to stop it from surpassing the US economically and militarily. As semiconductors emerge as a key battleground, FRANCE 24 spoke to…

France 24

‘No possibility of reconciliation’ as US slams China chips

The Biden administration’s new restrictions on technology exports to China could undercut the country’s ability to develop wide swaths of its economy, from semiconductors and supercomputers to surveillance systems and advanced weapons.

Tribune News Service

China says Biden’s new chip technology curbs will harm recovery

China criticized expanded U.S. restrictions on its access to semiconductor technology, saying they’ll harm supply chains and the world economy.

Tribune News Service

Biden tightens China chip rules on chaotic day for industry

The Biden administration announced new restrictions on China’s access to U.S. semiconductor technology, escalating tensions between the two countries and adding fresh complications to an industry reeling from a slump in demand.

Tribune News Service

Commerce tightens export controls on high end chips to China

The Commerce Department is tightening export controls to limit China’s ability to get advanced computing chips, develop and maintain supercomputers, and make advanced semiconductors

The Independent UK

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Tribune News Service

White House adds new restrictions on chip exports to China

The Biden administration announced new restrictions on China’s access to U.S. semiconductor technology, adding measures aimed at stopping Beijing’s push to develop its own chip industry and advance the country’s military capabilities.

Tribune News Service

Secretive chip startup may help Huawei circumvent US sanctions

When the US government blacklisted Huawei Technologies Co. as a national security threat, it cut the Chinese company off from buying American semiconductors and other critical technologies. Now Huawei may have a path around those restrictions.

The Independent UK

Former Trump aide jailed after admitting possession of child sexual abuse images

Adam Hageman was arrested in November 2020 after federal agents raided his home

Asharq Al-Awsat

US Imposes Sanctions on Russia over Annexation of Swath of Ukraine

The United States on Friday imposed sweeping sanctions on Russia over its declared annexation of a swath of Ukraine, targeting hundreds of people and companies, including those in Russia's military-industrial complex and lawmakers. Washington acted after Russian President Vladimir Putin on Friday proclaimed the biggest annexation in Europe since World…

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Reuters

U.S. adds Iran cargo planes flying to Russia to export violation list

The U.S. Commerce Department on Monday said it will add three Iranian cargo planes serving Russia to a list of aircraft believed to violate U.S. export controls under the Biden administration's sanctions.

WEKU

A bill to block census interference passed the House. Its Senate path is unclear

The U.S. House has passed a bill that could help protect the 2030 census and other future head counts from political interference. But it's not clear how much support the bill has in the Senate.

The Independent UK

Census meddling is targeted in bill, recommendations

Democratic lawmakers are intent on making sure that unprecedented efforts by the Trump administration to politicize the 2020 census never happen again

Evening Standard

Tech & Science Daily: Biden to hit China with chip curbs over AI fears

Plus! Will King Charles III be world’s greenest monarch?

Tribune News Service

Raimondo announces strategy to boost US chip manufacturing ahead of Biden’s Ohio trip

WASHINGTON — Commerce Secretary Gina M. Raimondo on Tuesday unveiled a strategy for the Commerce Department’s disbursal of $50 billion that Congress approved to boost domestic manufacturing of semiconductor chips, saying she expected the first money to flow in the spring of 2023.

Roll Call

Raimondo announces strategy to boost US chip manufacturing ahead of Biden's Ohio trip - Roll Call

Administration unveils strategy for chip spending as Biden and Senate candidate Tim Ryan plan to attend Intel groundbreaking in Ohio.

Tribune News Service

Biden weighing actions to curb US investment in China technology

WASHINGTON — The Biden administration is considering moves that would restrict U.S. investment in Chinese technology companies amid growing tensions between the United States and China, according to people familiar with the matter.

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