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Us Department Of Commerce

All articles tagged with #us department of commerce

business2 years ago

"U.S. Department of Commerce Boosts Innovators and Startups with 'Build to Scale' Program"

The U.S. Department of Commerce has announced the recipients of the "Build to Scale" grants, totaling $53 million, which aim to support technology entrepreneurs, foster innovation, and drive economic growth. The grants will be awarded to 60 organizations across the country, focusing on industries such as agtech, bioscience, advanced manufacturing, and health technology. The program, administered by the Economic Development Administration, will provide funding for entrepreneurial assistance and startup capital, with the goal of creating job opportunities and improving economic competitiveness.

via Economic Development Administration|
#build-to-scale-program#business#economic-development
politics2 years ago

US Halts Civilian Firearms Exports for 90 Days: Commerce Department

The US Department of Commerce has announced a temporary freeze on most civilian firearm exports for the next 90 days, citing national security concerns. The ban aims to assess the risk of firearms being diverted to entities or activities that promote regional instability, violate human rights, or fuel criminal activities. However, around 40 countries, including Israel and Ukraine, are exempt from the ban due to separate export agreements. This move could potentially impact firearms companies such as Sturm Ruger & Co., Vista Outdoor, and Smith & Wesson Brands.

via Fox Business|
#civilian-export-licenses#firearm-exports#firearms-companies
trade2 years ago

US Department of Commerce Imposes Tariffs on Solar Companies for Evading China Duties

The US Department of Commerce (DOC) has imposed tariffs on several solar companies that attempted to evade existing import duties on Chinese goods by completing their products in Southeast Asian countries. The companies, including subsidiaries of Chinese firms BYD, Trina Solar, Vina Solar, and Canadian Solar, were found to be circumventing US tariffs on Chinese solar cells and panels by conducting minor processing in Cambodia, Malaysia, Thailand, and Vietnam. The tariffs will take effect in June 2024, giving US solar importers time to adjust their supply chains. The move is seen as a boost for US solar manufacturers, who have struggled to compete with Chinese rivals and are receiving investment through President Biden's Inflation Reduction Act. The use of forced labor from Uyghurs and other persecuted ethnic minorities in China has also raised concerns in the solar industry.

via Fox Business|
#china#import-restrictions#solar-companies
finance2 years ago

"Surging Treasury Yields Reflect Revised Q1 GDP Data"

U.S. Treasury yields surged after the release of revised Q1 GDP data, which showed a 2% increase, surpassing the consensus of 1.4%. The U.S. 30-Year Treasury yield rose by 9 basis points to 3.89%, the U.S. 10-Year Treasury yield increased by 12 basis points to 3.83%, and the U.S. 2-Year Treasury yield jumped by 15 basis points to 4.87%. The inverted yield curve also widened, reaching levels not seen since 1981. The rise in yields pushed down U.S. Treasury bonds, while boosting the dollar.

via Seeking Alpha|
#finance#gdp-data#inverted-yield-curve