Commerce at a Glance: July 31, 2023

The Latest News

Biden-Harris Administration Announces Nearly $1 Billion in New Internet for All Funding Available to Tribal Lands

The Department of Commerce’s National Telecommunications and Information Administration (NTIA) announced the availability of nearly $1 billion in funding to expand Internet access and adoption on Tribal Lands.

Department of Commerce and Department of Defense Sign Memorandum of Agreement to Strengthen U.S. Defense Industrial Base

The United States Departments of Commerce (DoC) and Defense (DoD) have signed a Memorandum of Agreement (MOA) to expand collaboration to strengthen the U.S. semiconductor defense industrial base. The agreement will increase information sharing between the Departments to facilitate close coordination on the CHIPS for America’s incentives program. . .

Readout of Secretary Raimondo’s Meeting with Panamanian President Laurentino Cortizo, Minister of Foreign Affairs Janaina Tewaney Mencomo, and Minister of Commerce and Industry Federico Alfaro

Secretary Gina Raimondo met with Panamanian President Laurentino Cortizo, Minister of Foreign Affairs Janaina Tewaney Mencomo, and Minister of Commerce and Industry Federico Alfaro reaffirming our strong bilateral trade and economic ties. The Secretary thanked the President for his hospitality and expressed the importance of the U.S.-Panama relationship in advancing sustainable economic growth.

U.S. Departments of Commerce and Justice and the European Commission Reaffirm Shared Values, Welcome Finalized EU-U.S. Data Privacy Framework

Attorney General Merrick B. Garland hosted Secretary of Commerce Gina Raimondo and European Commissioner for Justice Didier Reynders for a meeting at the Justice Department today marking the European Union (EU)’s recognition of the adequacy of the EU-U.S. Data Privacy Framework (DPF).

Data Privacy Framework Program Launches New Website Enabling U.S. Companies to Participate in Cross-Border Data Transfers

The U.S. Department of Commerce launched the Data Privacy Framework (DPF) program website today, enabling eligible U.S. companies to self-certify their participation in the EU-U.S. Data Privacy Framework (EU-U.S. DPF), facilitating cross-border transfers of personal data in compliance with EU law.

Joint U.S. Department of Commerce and USTR Readout of Fourth Indo-Pacific Economic Framework Negotiating Round in South Korea

The U.S. Department of Commerce and the Office of the United States Trade Representative (USTR) participated in the fourth in-person negotiating round for the Indo-Pacific Economic Framework for Prosperity (IPEF) in Busan, South Korea from July 9-15, 2023.

Biden-Harris Administration Announces $60 Million to Create a Climate Resilience Accelerator Program and Support Small Businesses through Investing in America Agenda

The Department of Commerce and NOAA are launching the Ocean-Based Climate Resilience Accelerators program, a $60 million investment in coastal resilience and American small businesses through President Biden’s Investing in America agenda. The program, funded by the Inflation Reduction Act, will foster public-private partnerships to help support small businesses that are developing sustainable technologies geared toward climate resilience to attract capital, mature their technologies and scale their business models for climate impact.

Statement from U.S. Secretary of Commerce Gina Raimondo on the European Union-U.S. Data Privacy Framework

U.S. Secretary of Commerce Gina Raimondo issued the following statement regarding the European Union-U.S. Data Privacy Framework:

“Today, the United States has fulfilled its commitments for implementing the EU-U.S. Data Privacy Framework (EU-U.S. DPF) announced by President Joe Biden and European Commission President Ursula von der Leyen in March 2022. This represents the culmination of months of significant collaboration between the United States and the EU and reflects our shared commitment to facilitating data flows between our respective jurisdictions while protecting individual rights and personal data. . .

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Around Commerce

A renewable resolve: Vanessa Carballido Clerch and Francisco Laboy Colondres

Journeys of Innovation: A Renewable Resolve

When lawyer Vanessa Carballido Clerch and her husband Francisco Laboy Colondres decided to launch a startup in Puerto Rico to address the need for low-cost and reliable energy, they initially played it safe, with Vanessa reluctant to give up the security of her day job.

Five Critical Questions About What’s in the 2023 National Export Strategy

International trade is an undeniably important part of the U.S. economy—it allows businesses to exchange goods and services with people across the globe. It’s no surprise, then, that promoting U.S. exports has been a major focus of the Biden-Harris Administration.

AI Can Accurately Predict Potentially Fatal Cardiac Events in Firefighters

Firefighters regularly risk their lives in dangerous situations, but most deaths on duty are not directly caused by fire or smoke inhalation. Instead, approximately 40% of on-duty fatalities come from sudden cardiac death.

Wisconsin Chocolatier Achieves Sweet Success With Help From EDA

The company took off when Herskovic and his wife, Tamara, connected with the Northwest Regional Planning Commission, one of about 400 EDA-designated Economic Development Districts around the country that supports regional economic development.

Commerce by the Numbers

Gross Domestic Product, Second Quarter 2023 (Advance)

Real gross domestic product (GDP) increased at an annual rate of 2.4 percent in the second quarter of 2023, according to the "advance" estimate. In the first quarter, real GDP increased 2.0 percent.

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Rate of Homeownership Higher Than Before Pandemic in All Regions

The U.S. homeownership rate in 2022 was even higher than before the COVID-19 pandemic — 65.8% compared to 64.6% in 2019 — a rebound driven largely by those age 44 and younger, according to the Census Bureau’s Current Population Survey/Housing Vacancy Survey.

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NOAA Launches New Hurricane Forecast Model as Atlantic Season Starts Strong

NOAA’s National Hurricane Center — a division of the National Weather Service — has a new model to help produce hurricane forecasts this season.

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New NIST Measurements Aim to Advance and Validate Portable MRI Technology

Magnetic resonance imaging (MRI) machines can clearly view non-bony parts of the body — soft tissue such as the brain, muscles and ligaments — as well as detect tumors, making it possible to diagnose many diseases and other conditions.

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