US ECONOMY GREW AT ANNUAL RATE OF 6.4 PERCENT IN LAST QUARTER

Highlights

• This growth in the economy showcases impetus provided by government aid and the number of COVID-19 cases going downwards

• As per the economists, the growth in the present quarter is likely to be faster and reach annual pace of 10 percent

&bull...

US TRADE DEFICIT WIDENS TO RECORD $71.1 BN IN FEBRUARY

Highlights

• According to the Commerce Department data released on Wednesday, the gap in trade of both goods and services went up to a sum of $71.1 billion in February from a revised $67.8 billion a month prior

• On the other hand, total imports went down by 0.7% to ...

US DEPARTMENT OF COMMERCE OPENS INVESTIGATION INTO SEAGATE FOR HUAWEI SANCTIONS BREACH

Highlights

• As per the reports, this investigation will be revolving around controller chips inside the drives

• The US Department of Commerce had previously imposed tougher sanctions on Chinese smartphone maker in an attempt to prevent its attempts to circumvent US...

US GDP EXPANDED AT 4% ANNUALIZED RATE IN THE FOURTH QUARTER

Highlights

• According to a preliminary estimate released by the Commerce Department on Thursday, the American gross domestic product expanded at a 4 percent annualized rate in the fourth quarter

• The output of goods and services slumping in the last quarter as comp...

U.S. NOTIFIES HUAWEI SUPPLIERS ABOUT REVOCATION OF THEIR LICENSES

Highlights

• The US federal government has notified several suppliers of Chinese tech company Huawei Technologies Co. about revocation of their licenses to work with Chinese company

• The US Commerce Department has indicated about its intention of denying a significa...

U.S. CONSUMER SPENDING WENT DOWN BY 0.4% IN NOVEMBER

Highlights

• According to the U.S. Commerce Department report released on Wednesday, this slump in consumer spending in the November comes after a gain of 0.3 percent in October

• Last time consumer spending went down was in the month of April, when the fall was 12.7...

U.S. ECONOMY GROWS AT A RECORD PACE IN Q3

Highlights

• The Commerce Department in its third estimate of GDP said the gross domestic product managed to rebound at an annualized rate of 33.4 percent in the last quarter

• This growth of the crippling American economy will be fuelled by over $3 trillion in pande...

U.S. ANNOUNCES NEW TRADE ENFORCEMENT ACTIONS AGAINST CHINESE SHIPBUILDERS

Highlights

• Along with the Chinese semiconductor industry, all listed companies in shipbuilding industry are part of the 77 companies added to the ‘Entity List' that curbs exports to them

• The new list also expands export restrictions to China State Shipb...

U.S. IMPOSES STRICT RESTRICTIONS ON CHINA’S CHIPMAKER SMIC

Highlights

• The Trump administration on Friday imposed strict restrictions on China’s top chipmaker Semiconductor Manufacturing International Corporation (SMIC)

• SMIC along with few other Chinese companies would be added to a Entity List that will ensure that...

ANOTHER U.S. JUDGE BLOCKS COMMERCE DEPARTMENT FROM IMPOSING RESTRICTIONS ON TikTok

Highlights

• A second US judge on Monday granted a preliminary injunction blocking the U.S. Commerce Depart from imposing restrictions on ByteDance-owned TikTok

• Talking about this decision given by judge Nichols, a TikTok spokesman said the company was pleased that...

U.S. ECONOMY REBOUNDS BY RECORD 33.1% IN Q3

Highlights

• As per the US Commerce Department report, this overall surge in the gross domestic product (GDP), the nation’s total output of good and services remained unchanged as per the its estimate

• This jump of 33.1 percent was the largest quarterly gain r...

U.S. GDP REBOUNDS RECORD 33 PERCENT IN THIRD QUARTER

Highlights

• According to the Commerce Department, the U.S. gross domestic product rebounded at a 33.1 percent annualized rate last year

• After slumping drastically 31.4 percent in the second quarter, the U.S. economy managed to rebound in the third quarter courtesy...

U.S. COMMERCE DEPARTMENT IMPOSES ANTI-DUMPING DUTIES ON ALUMINUM SHEET IMPORTS

Highlights

• This move will allow the Trump administration to collect extra tariffs from these countries, which is likely to be refunded next year if a commission gives clean chit to the countries stating they have not unfairly dumped aluminium products

• Secretary o...

U.S. AUTOMOBILE INDUSTRY FARES WELL IN SEPTEMBER, BUT NOT UP TO THE MARK YET

Highlights

• Automobile companies General Motors, Toyota and Fiat Chrysler reported fall of 10 percent in the auto sales in the third-quarter though this decline was lower than predicted by the industry experts

• Along with a boost from low-interest rates, another fa...

U.S. IMPOSES RESTRICTIONS ON EXPORTS TO CHINA’S BIGGEST CHIPMAKER SMIC

Highlights

• According to letter from the Commerce Department, suppliers of certain equipment to Semiconductor Manufacturing International Corporation (SMIC) will now have to apply for individual export licenses

• The Chinese chipmaker clearly said that it has not re...

FACIAL RECOGNITION SYSTEMS FAILING BY 20% TO 50% TO RECOGNISE FACES CLAD IN MASKS

Highlights:

•     The National Institute of Standards and Technology working towards understanding failure to face recognition

•     Errors differ in between 20% TO 50%

With the pandemic masking face masks a must, in ...

THE FIGHT GETS UGLIER AS 33 CHINESE COMPANIES BLACKLISTED BY THE U.S.

Highlights

• The U.S. Commerce Department have blacklisted all these Chinese companies over alleged links to military

• The U.S. President Donald Trump has been constantly accusing China of making and intentionally spreading the dreadful coronavirus

The U.S...

The Trump administration refuses to release confidential report justifying vehicle tariffs

The Trump administration has refused to announce a confidential government report that according to the officials, justified steep tariffs on the imports of vehicles to the United States, an unusual move which is directly in defiance of the Congress. 

A spokesperson of the Commerce...