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Speaking at the Bloomberg New Economy Forum in Singapore, Raimondo argued that the political cost of unwinding tariffs is too high for any future administration, regardless of party. 

The Commerce Department is slated to announce a five-year extension for an arrangement that allows automakers to reduce what they pay in tariffs on imported car parts.

The Commerce Department reported Sept. 26 that its personal consumption expenditures price index was up 2.7% in August from a year earlier.

The Commerce Department had previously estimated second-quarter growth at 3.3%.

Tariffs under Section 232 of the Trade Expansion Act are already in place for steel and aluminum and have compelled truck makers to increase their prices.

The first-quarter GDP drop, the first retreat of the U.S. economy in three years, was caused by a surge in imports as businesses scrambled to bring in foreign goods ahead of Trump’s tariffs.

U.S. rules require rail mergers to show that a deal would serve the public interest and enhance competition, a step beyond merger requirements applied to other industries.

The goods and services trade gap shrank 16% from the prior month to $60.2 billion, Commerce Department data showed Aug. 5.

Prices rose 2.6% in June compared with a year ago, the Commerce Department said July 31, up from an annual pace of 2.4% in May.

American gross domestic product — the nation’s output of goods and services — rebounded after falling at a 0.5% clip from January through March, the Commerce Department reported July 30.