The United States government has allegedly approved the sale of hundreds of millions of dollars worth of electronic chips to Chinese technology giant Huawei, in a massive reversal of a Trump-era policy by the Biden Administration, as reported by the Daily Caller.
The report was first made by Reuters on Wednesday, which cited two anonymous sources who claimed to be familiar with the deal. Huawei intends to use the new supply of chips to construct more automatic components of automobiles, including video monitors and motion sensors. Huawei allegedly asked the suppliers to raise the value of chips from hundreds of millions to at least one billion for the next sale after the four-year licensing agreement expires. Read More
Outgoing Ohio Sen. Rob Portman (R-OH), reached across the aisle to cosponsor the Digital Equity Act of 2021, which was later passed and slipped into the more than 2700 page, $3.5 trillion infrastructure bill agreed upon by the U.S. Senate last week.
U.S. Sen. Patty Murray (D-WA), announced the introduction of the bill on her website on June 1: Read More
President Joe Biden’s administration announced that it would give $3 billion in coronavirus stimulus funds to approved local communities across the country.
The program dubbed “Investing in America’s Communities” amounts to the largest initiative of its kind in decades, according to the Department of Commerce. Local governments and organizations nationwide impacted by the coronavirus pandemic are able to apply to receive the federal funds. Read More
A key measurement of consumer spending and personal income showed the economy experienced higher-than-expected inflation in April, according to the Department of Commerce.
The Personal Consumption Expenditures (PCE) price index — a main inflation indicator used by the Federal Reserve that measures consumer price increases — ticked up by 0.6% while the core PCE index, which excludes food and energy, increased 0.7% in April, the Commerce Department reported Friday. The Disposable Personal Income index, which measures how much after-tax income Americans have — decreased by 14.6%, or $3.22 trillion.
Economists had expected the PCE measure to come in lower than it did, CNBC reported. Read More
The debate over whether or not to include a citizenship question on the 2020 U.S. census has become the latest division in American politics, but a similar question has been included on Canada’s census for more than a century. On Saturday, the Canadian Broadcasting Corporation (CBC) reported that America’s… Read More
by Riley Walters The Committee on Foreign Investment in the U.S. is often compared to a black box. Investors may be aware of what it does, but few know what really goes on inside. The nine members of the committee, drawn from various federal agencies, are in charge of… Read More
by Tim Pearce Commerce Secretary Wilbur Ross is using resources in his department to ensure that California firefighters are armed with enough water to fight wildfires scorching the state. Ross ordered the National Oceanic and Atmospheric Administration and other federal agencies to prioritize water use for fighting fires over previously arranged… Read More
By Robert Romano OMG! Commerce Secretary Wilbur Ross held stake in a company that ships natural gas, and actually found natural gas producers who wanted to ship it. One of them was Russia. Stop the presses! Actually, in this case, they probably should have stopped the presses. The breathless… Read More
The United States on Friday imposed fresh import duties on Chinese aluminum, accusing exporters of dumping their product on the US market at prices below cost. The move follows a Commerce Department decision in August that also imposed import duties to counteract alleged unfair Chinese subsidies in the aluminum foil… Read More
Commerce Secretary Wilbur Ross said Friday that President Trump is “systematically” removing hundreds of regulations put in place by the Obama administration. “The president has already knocked out some 860 rules and regulations from the Obama administration, and every day we’re finding more and more to do. Remember, Obama put… Read More