The idea that prices differ by place is a well-known economic concept. Most consumers could easily identify that a day in New York City would cost more than an identical day in rural Texas. To quantify these price differences, the Bureau of Economic Analysis (BEA) publishes regional price parities (RPPs) . By using a weighted average of goods and services across places in a given year, RPPs allow...

Yesterday, Deputy Secretary of Commerce Don Graves, Assistant Secretary of Global Markets and Director General of the Foreign Commercial Service Arun Venkataraman, and SelectUSA Executive Director Jasjit Singh met with the U.S. Investment Advisory Council (IAC) for their final meeting of the term. They provided an update on the progress made on the recommendations submitted by the Council...

Women make a difference in the lives of Americans every day and are a critical part of the U.S. economy. During Women’s History Month, Commerce Secretary Gina Raimondo echoed this sentiment at various events that both celebrated the vast contributions of women and stressed the importance of advancing women’s full and equal participation in building a more resilient and innovative economy. Through...

SAN JOSE, Costa Rica – Today, U.S. Secretary of Commerce Gina Raimondo met with President of Costa Rica Rodrigo Chaves and members of his Cabinet. During the meeting, Secretary Raimondo and President Chaves discussed efforts to enhance semiconductor supply chain capacity in the Western Hemisphere. She welcomed President Chaves and the Government of Costa Rica’s efforts to elevate the country as a...

SAN JOSE, Costa Rica – Today, U.S. Secretary of Commerce Gina Raimondo co-led a roundtable discussion with Costa Rica’s Minister of Science, Innovation, Technology and Telecommunications (MICITT) Paula Bogantes, Costa Rica’s Minister of Foreign Trade Manuel Tovar and Industry and other stakeholders to discuss their collective commitments to support the Americas Partnership for Economic Prosperity...

SAN JOSE, Costa Rica – Today, U.S. Secretary of Commerce Gina Raimondo co-led a roundtable discussion with Costa Rica’s Minister of Foreign Trade Manuel Tovar, Costa Rica’s Minister of Science, Innovation, Technology and Telecommunications Paula Bogantes, Vice Chair of the Export-Import Bank of the United States Judith Pryor, and Assistant Secretary of Commerce for Export Administration Thea...

SAN JOSE, Costa Rica – Today, U.S. Secretary of Commerce Gina Raimondo met with Costa Rica’s Minister of Foreign Trade Manuel Tovar and Minister of Science, Innovation, Technology and Telecommunications Paula Bogantes. During the meeting, the three discussed collaborative efforts to improve the overall semiconductor ecosystem through nearshoring supply chain capacity to the Western Hemisphere...

Today, Secretary of Commerce Gina Raimondo and Assistant Secretary Alan Davidson gave remarks at a roundtable with leading AI developers, civil society organizations, and academics on the benefits, risks, and policy options regarding open AI models, in relation to the National Telecommunications and Information Administration’s (NTIA) Request for Comment on the topic. Secretary Raimondo moderated...