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Secretary of Commerce Wilbur L. Ross, Jr. today announced that China’s Zhongxing Telecommunications Equipment Corporation and ZTE Kangxun Telecommunications Ltd., known collectively as ZTE, has agreed to a record-high combined civil and criminal penalty of $1.19 billion, pending approval from the courts, after illegally shipping telecommunications equipment to Iran and North Korea in violation of...

U.S. Secretary of Commerce Wilbur Ross issued the following statement today on the release of the January 2017 U.S. International Trade in Goods and Services monthly data. The trade deficit in January stood at $48.5 billion, a 9.6 percent increase from December. U.S. imports of goods and services increased to $240.6 billion in January from $235.3 billion in December. U.S. exports of goods and...

Thank you, Ellen, for that kind introduction. And thank all of you for joining me today for the beginning of what will be a period of revival across our country and a special renaissance for the Department of Commerce. Let me first introduce my lovely wife Hilary. She has been incredibly supportive during the whole confirmation process that took some several months – seemed like a couple hundred...

Today, Wilbur L. Ross, Jr. was sworn in by Vice President Mike Pence as 39th Secretary of Commerce. Secretary Ross will be the principal voice of business in the Trump Administration, ensuring U.S. entrepreneurs and businesses have the tools they need to create jobs and economic opportunity. “President Trump used to say on the campaign trail that he had a three-part agenda for the American economy...