In today’s dynamic and rapidly evolving economic landscape, the digital economy has become a cornerstone of economic growth, job creation and innovation in the United States. It is creating international growth opportunities for businesses of all sizes across virtually every industry—from farming to high-end manufacturing. According to the Department of Commerce’s Bureau of Economic Analysis (BEA)...

At the Supply Chain Summit, the Department of Commerce announced that the following actions will be undertaken by the Industry & Analysis (I&A) business unit within the International Trade Administration: New efforts to build the U.S. Government’s analytical capacity to understand and address supply chain risk: Launched SCALE Tool: Department of Commerce’s Supply Chain Center unveiled a first-of...

Announcements made at the inaugural event included $20 million in philanthropic support for the Good Jobs Economy initiative, including for regions designated as Regional Tech Hubs under the Biden-Harris Administration’s landmark investment program. On July 23, the Biden-Harris Administration announced a series of actions and commitments from the U.S. Department of Commerce’s Economic Development...

Achieving the full potential of the U.S. economy requires that every American entrepreneur can start and grow their business regardless of background. Yet some communities face disproportionate barriers to the resources needed to turn their entrepreneurial dreams into reality. For example, the U.S. Federal Reserve found that more than half of Black-owned businesses were turned down for bank loans...

Since President Biden launched the Indo-Pacific Economic Framework for Prosperity (IPEF) just two years ago, the United States and the 13 other IPEF partners have worked together to deepen long-term regional economic engagement. In that short time, this group of diverse partners have taken IPEF from a vision to three innovative economic cooperation agreements. At the Ministerial meeting in...

IPEF Partners Announce $23B of Sustainable Infrastructure Investment Opportunities at Inaugural Clean Economy Investor Forum On June 6, 2024, approximately two years since President Joe Biden launched the Indo-Pacific Economic Framework for Prosperity (IPEF), the United States joined its 13 IPEF partners – Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, Republic of Korea, Malaysia...

On June 5, 2024, U.S. Secretary of Commerce Raimondo and Singapore Minister for Communications and Information Josephine Teo co-led a Roundtable on Artificial Intelligence (AI) with U.S. and Singapore companies and government officials. The Roundtable underscored the importance of the close and long-standing relationship between the United States and Singapore, which has grown to include close...

“America is the most competitive country in the world, and that’s because of the strength of our workforce. But if we want to stay ahead, we need to ensure we are empowering our workers with the skills they need to secure the good-paying jobs we’re creating under President Biden’s Investing in America agenda.” —U.S. Secretary of Commerce Gina M. Raimondo On May 14, 2024, Secretary Raimondo...