Commerce

• The Senate Commerce Committee voted unanimously to advance the Kids Online Safety Act, moving the legislation toward a potential full Senate floor vote. • The measure aims to enhance protections for children online after previously stalling in the House during the last Congress. • Parallel to this, Senator Kennedy and other Republicans, including Ted Cruz and Rand Paul, have raised concerns regarding the FCC's scrutiny of Disney and television networks.

• The Republican-led House Energy and Commerce Committee has issued an information request to determine how Congress should overhaul the Federal Trade Commission (FTC). • The move follows several federal court rulings that overturned the agency's "click-to-cancel" rules and noncompete bans, as well as criticism regarding the FTC's 2022 data privacy rulemaking. • Critics, including former FTC chief technologist Neil Chilson, argue the agency has taken an overly aggressive position by stepping in where Congress has failed to act.

• GlobalFoundries has signed a letter of intent with the U.S. Department of Commerce to receive a $300 million award under the CHIPS R&D program. • The funding is dedicated to accelerating U.S. leadership in silicon photonics, which provides the critical optical technologies necessary for AI and high-performance computing. • This initiative aims to strengthen domestic semiconductor capabilities amidst volatile geopolitical tensions, including trade conflicts with China and instability in Ukraine and the Middle East.

• PageMind has raised €1.2 million in funding to expand its AI-driven product discovery tools for the e-commerce sector. • An unnamed AI medical imaging marketplace secured $10 million to scale its operations and technology. • AMD has launched the Helios AI Rack-Scale System, positioning the company to compete more directly with Nvidia in the high-performance AI hardware market.

• OpenAI is expected to initiate a wide rollout of its GPT-5.6 model this week following approval from the U.S. Department of Commerce. • The launch follows a period of additional testing and strategic meetings between OpenAI executives and government officials. • The release was previously delayed due to a June executive order by President Donald Trump, which created a voluntary framework for "covered frontier models."

• AI is fundamentally reshaping brand discovery and commerce across Southeast Asia, specifically in Indonesia, the Philippines, Vietnam, Thailand, Malaysia, and Singapore. • Consumers in these regions have been conditioned by the recommendation algorithms of major platforms like Shopee, TikTok Shop, and Lazada to expect personalized product listings. • As AI-driven discovery grows, the role of trusted publishers, content creators, and strategic partnerships is becoming critical for brands to remain visible.

• According to the India Venture Capital Report 2026 by Bain & Company, India's VC and growth ecosystem is transitioning toward a monetization-led growth phase. • Investors are shifting their priorities away from "growth at all costs," now focusing on capital efficiency, sustainable profitability, and clear exit pathways. • This strategic pivot is being driven by the integration of AI, the expansion of quick-commerce (Q-commerce) infrastructure, and strong domestic economic tailwinds.

• Lantern, an e-commerce startup founded in 2024 by Lissimore, is pivoting its focus toward AI Generative Engine Optimization (GEO) and LLM result optimization. • The company previously launched a customer loyalty tool and successfully raised $3.1 million in seed funding in 2025, led by Salesforce Ventures. • This shift addresses the changing landscape of search, providing brands with tools to ensure their products are more frequently recommended by large language models.

• Bengaluru-based spacetech startup QOSMIC has raised $3.33 million in a seed funding round led by Accel and Prosus. • The round also saw participation from South Park Commons, ARTPARK, and angel investor Manish Jain. • Founded in 2025, QOSMIC develops laser-based optical communication systems to enable the transfer of massive data volumes between ground stations and satellites.

• India has emerged as a global leader in AI-driven marketing, with Chief Marketing Officers (CMOs) projecting the highest AI-led revenue growth worldwide. • According to a new Boston Consulting Group (BCG) report, Indian marketing leaders are prioritizing the adoption of Generative AI, personalization, and agentic commerce. • This shift matters as it transforms how brands engage customers and manage digital commerce through more autonomous, AI-driven interactions.

• Shoptalk Europe unveiled five major predictions for the future of European retail during its 2026 event in Barcelona. • The forecast identifies AI shopping agents, the rise of weight-loss drugs, a "recommerce boom," personalized physical stores, and revamped supply chain planning as primary drivers of change. • These trends are expected to fundamentally reshape the retail industry over the next decade, impacting how consumers shop and how businesses operate.

• CVB Financial (NasdaqGS:CVBF) finalized its acquisition of Heritage Commerce Corp on May 10, 2026, forming a combined mid-sized bank with pro forma assets of US$21.5 billion. • The merged entity released pro forma financials projecting 2025 net earnings of US$241 million, or US$1.36 per share, offering investors visibility into future performance. • This deal transforms CVB from a smaller regional player into a more substantial competitor, potentially enhancing its market position and dividend capacity in the banking sector.

Lutnick has acknowledged he visited Epstein’s island with his family in 2012 after earlier claiming he severed ties in 2005Sign up for the Breaking News US email Hello and welcome to the US politics live blog.Commerce secretary Howard Lutnick will become the latest of Donald Trump’s cabinet to be questioned over ties to the late sex offender Jeffrey Epstein when he sits for a closed-door transcribed interview with the Oversight Committee later today.A majority of Indiana Republican legislators whose opponents were backed by Donald Trump lost their primaries on Tuesday, giving the president wins in a deep-red state just months after lawmakers there rejected his redistricting plan. Of the seven Trump-endorsed challengers to state senate candidates, at least five won. More here.Democratic senator Sherrod Brown and Republican senator Jon Husted won their party’s nominations in Ohio’s primary elections, according to the Associated Press – teeing them up for what is expected to be a high-profile and expensive Senate race in November’s midterm elections. More here.Senate Republicans have released a new immigration enforcement funding package that includes a proposed $1bn that could go to security measures related to the $400m ballroom that is part of Donald Trump’s “East Wing modernization project”. More here.Marco Rubio argued the US is in a “very fortunate” position as fuel prices continue to climb nationwide amid disruption sparked by the US-Israel war on Iran. With average US fuel prices now approaching $4.50 a gallon – their highest level in four years – the US secretary of state was asked on Tuesday how long Americans should accept them at such levels. Other countries were suffering “big time”, Rubio replied. More here.Seven of the leading contenders in California’s unexpectedly dramatic race for governor faced off on the debate stage Tuesday night, with the stakes now higher because ballots are in the mail. Becerra was a top target, as expected, given his steady rise in the polls. More here. Continue reading...

• Google, Microsoft, and xAI joined OpenAI and Anthropic in providing the US Commerce Department pre-release access to evaluate their AI models, creating the first voluntary oversight mechanism for all five major frontier AI labs. • The Commerce Department announced the expansion on Tuesday, establishing a framework with no statutory authority and fewer than 200 staff members to address national security concerns before public model releases. • The Mythos crisis forced the US government to confront the absence of formal mechanisms to evaluate powerful AI models that could threaten national security before public deployment.

• The U.S. Chamber of Commerce released its Q1 2026 Small Business Index on April 7, 2026, showing the index declined to 67.0 from 68.4 in the previous quarter, though it remains above the 62.3 score from a year ago. • Inflation reclaimed the top concern among small business owners at 53%, up from 45% last quarter, marking 17 consecutive quarters as the dominant worry; hiring and investment plans are cooling as economic confidence softens. • Cash flow comfort among small business owners has declined, with only 20% reporting being "very comfortable" compared to 31% in Q3 2025, though 72% overall maintain comfort levels; manufacturing firms lead at 81% comfort while retail and professional services lag at 69-70%.

• The House Energy and Commerce Health Subcommittee held a hearing on March 18, 2026, focusing on healthcare providers amid ongoing policy debates. • Reported on March 25, the session examined provider challenges, potentially influencing upcoming health legislation in the US Congress. • This follows recent hearings on Medicare fraud, highlighting congressional scrutiny of healthcare delivery and costs.

• The Senate Commerce Committee’s Telecommunications and Media Subcommittee will hold a hearing on March 17, 2026, on radio frequency allocations assigned by NTIA and FCC. • Frequencies are vital for US government and commercial space operations, though often overlooked by the space community. • The event addresses spectrum management essential for space communications and tech developments.

The US Commerce Department withdrew a planned rule on artificial-intelligence chip exports on Friday, marking the latest policy reversal by the Trump administration regarding technology trade controls. The withdrawal represents a significant shift in the administration's approach to regulating AI semiconductor exports, which had been a contentious issue affecting companies like Nvidia and other chipmakers. This decision follows earlier statements from administration officials indicating a more flexible stance on AI chip distribution policies compared to previous regulatory frameworks. The reversal signals potential changes in how the US will manage competition with foreign nations in advanced semiconductor and AI technology sectors.

The US Commerce Department withdrew a planned rule on Friday that would have required permits for exports of advanced AI chips from companies like Nvidia and AMD to global customers. The abandoned Trump administration proposal aimed to involve case-by-case reviews by the Commerce Department's licensing office, contingent on factors such as government agreements and end-user computing power needs. Commerce officials rejected returning to the prior administration's 'burdensome, overreaching and disastrous' AI diffusion framework. This decision eases restrictions on the semiconductor industry amid ongoing trade tensions.

The US Commerce Department withdrew a planned rule on AI chip exports on March 13, 2026, marking another policy reversal by the Trump administration amid shifting trade priorities. The rule had aimed to tighten controls on advanced semiconductor shipments, particularly to adversaries. This decision eases pressures on US chipmakers like Nvidia, potentially boosting exports while maintaining national security reviews. Tech industry groups welcomed the move, citing reduced regulatory burdens for $50 billion in annual chip trade.