goal is as a secretary of commerce?imondo: to help more people get back to work in decent-paying jobs. it's really very simple. everything that goes with it. trade policies that level the playing field so american workers can compete, ip policy that allows innovation to continue, helping startup companies so they can evolve. but all of that, fundamentally, at the end of the day, i learned this as governor, david. americans don't want a handout. they just want a chance to have a decent job. and so i'm obsessed with that. i was obsessed as governor. i'm obsessed with that now. and that's what everything i will do will be through that lens, creating decent jobs. david: so when you decided to take this position, you called your mother and said, guess what? i'm giving up being governor. i am going to be secretary of commerce. what did your mother say? sec. raimondo: she was excited. she's 90 now. and she said, "i hope you can help biden. biden has to be successful. i hope you can help him." ♪ >> i'm erik schatzker. welcome t

committee doubled the budget of the office of space commerce. i use doubled the budget with a certain amount of significance, reflecting the urgency and critical nature of what we are talking about. we required a pilot program for space traffic management database. the work of ranking member wicker, who will be here, i am sure his staff is washing -- is watching, and chairwoman cantwell will be here as well, on the space act is commendable. it codifies commerce department policies, the center to advance scientific research in ssa as well. the space act passed the commerce committee twice had recently passed the full senate in the u.s. innovation competition act, usica, also called the endless frontier act. they clearly demonstrate we need swift action, and part of it immediately is to enact usica and space act into law. the biden administration is implementing aspects of sbd 3, and oversight is important. we need to maintain leadership in space. it must include space traffic management. a lack of international rules of the road is a serious prob

space commerce. since space will play a growing role in the 21st century, economy, the commerce department is uniquely positionled to play roles in space and space commerce. and as we mentioned, endorsed the roles of commerce in managing a variety of technical projects and as the committee may recall, the office of space commerce established over 30 years ago as the executive branch advocate for the u.s. commercial space industriment given that mission and the importance of the commercial space industry to our national security, i believe that the office must be elevated to the office of the secretary where it can fully engage departmental leadership. finally, senators, i want to express my personal thanks to this committee for the space preservation and conjunction emergency act of 2020 and 2021. the committee recognizes the urgency of the space debris problem and for intense and focused action. to create a center or centers of exlength are welcome given the importance of research in this area and w

the office of space commerce. i think that word double the budget. that certain amount of significance reflects the amount of urgency and nature of what we're talking about . it required high-level programs for space traffic management database. the workup ranking member nk wicker who will be here, not here yet but will be here, i'm sure staff is watching and chairwoman cantwell as well on the space act is credible. codifies the department in sb three to advance scientific policy and research at the ssa as well. the space act passed commerce committee twice, recently passed the fullsenate and us innovation competition act . we're also called the endless frontier act. my preferred name. clearly demonstrating units with action . and part of that immediately is that edand ask that you see into law. the biden administration implementing aspects of spd three so i think we continue committee oversight is an appropriate and important where we need to maintain pace and everyone wants to understand that. a big part of this

david: the secretary of commerce is an unusual position.re are 70 different parts of the commerce department. you have so many different things -- there are so many different parts of the commerce department. you have so many different things. when you take the job and you realized how many different disparate things you have to deal with and how many other -- did other secretary of -- secretaries of commerce say this is what you have to worry about? gina: i think that is what makes the job fun. it is hard to learn about fisheries, fisheries management, trade senses, face commerce, semiconductors, trade tariffs, but for me that is intellectually fascinating. i like to think that if you put your back into it, you can have an impact across a whole range of topics. david: when you decided to take this position, you called your mother and said guess what, i am going to give up being governor of rhode island, i will be secretary of commerce -- what did your mother say? gina: she said i hope you can help biden. david: let's talk about your job as

that is for states referring -- preferring internal commerce over out-of-state or interstate commerce. part of the reason for that decline is what we have not seen since the 1980's, away of state measures that threaten to fragment or balkanized the national market. more or less to focus on intentional protectionism. that, today, maybe changing. we may be seeing the first raindrops of a storm of legislation that threatens exactly the kind of thing that led to those very terms in the past. to be sure, i want to be clear about the limits of what i am suggesting. there is a lot of room in the constitution for states to go their own way. tort law for conduct for companies, interstate companies, multinational companies, intentionally direct into a state, that is --. state tax law, conduct genuinely located in or attributable to or portion of the particular state, absolutely. but i see in some of this modern wave of legislative and regular efforts, real things of x or torah reality and -- extra territoriality and undue burden in ways that of animated the clause in the past. i want to give tw

that's where states prefer an internal commerce over out-of-state or interstate commerce. part of the reason for that is what we haven't seen since the 1980s is no way of straight measures that threat to fragment or balkanized the national markets. more or less to focus on intentional protectionism. that today may be changing and we may be seeing the first raindrops of a a storm of legislation that threatens exactly the kind of thing that led to those terms to the commerce clause in the past. so to be sure i want to be clear about what i'm suggesting, there is ae lot of room in our constitution for states to goow there own way. they taught law for context to even interstate companies, multinational companies. state tax law for conduct that is generally located in part attributable to or a portion to a particular state absolutely fine. but i see in some of this modern recent waves of legislative regulatory efforts real things of extraterritoriality and undue burden in exactly the ways that of animated dormant, clause laws in the past. i want to give to my examples. the firs

it estimates e commerce markets could be nearly $15000000000.00 larger by 2030 in africa. if the gender gap between male and female sellers were closed in nigeria and kenya, women already make up the majority of sellers on africa, largest e commerce platform. jimmy at the ivory coast, women sellers are still lagging behind. men and women own e commerce. businesses tend to be smaller, focused on less profitable sexes like fashion, and have less access to financing. result is it, male sellers are seeing higher average sales and female sellers on line. so this discuss this further with henrietta coke, who is over saw this research for the international finance corporation and is well and also chairman of the junior nigeria website, juliet and nama. thank you for joining is henrietta cope. if i can start with you, the fact the female sellers are in the majority and some african ecommerce market is something to celebrate, right? absolutely needed it. however, if we look across the african continent, what the potential could be if we were to bring not just more women entrepreneu

finally, commerce and other u.s.ernment stakeholders should deepen engagement with international partners on supply chain resiliency. iti welcomed the recent establishment of the trade and technology council has providing just this sort of opportunity to strengthen cooperation between allies on this and other critical issues. thank you for the opportunity to testify today. i look forward to your questions. >> thank you, mr. miller. and again, thank you to all the panelists. i feel like this subject is, well, you all have been studying it -- is, as i said, a new day on supply chain analysis and impact as far as what we should be doing. and you all gave us some good ideas on that. some differences. um, dr. lewis, you were unabashed. industrial policy let's go. more analysis. doctor. and very direct things in the last two witnesses about what commerce should be doing, specifically. so, i want to pose my question. i think, to you, and mr. taylor. and then, just see whoever else wants to jump in. but this notion that we t

finally commerce and other u.s. government stakeholders should deepen engagement with international partners on supply chain resiliency. iti welcomed the recent establishment of the u.s.-eu trade and technology council has provided just the sort of opportune to strengthen cooperation between allies on this and other critical issues. thank you for the opportunity testify today i look forward to your question. >> thank you, mr. mueller, and again thank you to all the panelist. i feel like the subject is come when you all the been studying it, as i said, a new day on supply chain analysis and impact as far as what we should be doing and you all gave us some good ideas on that. some differences. doctor lose, you are unabashed, daschle policy, let's go. definitely more analysis. dr. gereffi, very direct same with the last to witness about what congress should be doing specifically. so i want to pose my question i think, mr. aboulafia, to you and mr. taylor and in to see whoever else wants to jump in. .. >> teasing intern

there's an interesting commerce clause earlier this year, 630 held it did not violate the commerce clause for kentucky to a net a price gouging law that only applied to salespeople in kentucky and the court said amazon's business is currently set up this would interfere with amazon's practice, that is a feature of amazon's business model, it could very easily adjust its business for consumers in kentucky for the kentucky regulated pricing doesn't affect what is going on elsewhere so that kind of thing is feasible technically and commercially for platforms to comply with that law without it touching out-of-state activities would be a huge bound forward. another thing is the disclosure obligations for state specific labeling requirements. arkansas in platform regulations just recently enacted in full that online marketplaces oppose their contact information as part of the experience on the marketplace so they know who they are buying from. that obligation which is consistent with data protection state regulations we are seeing as well as likely to be less concerning on the dormant commerce

key roles on space commerce.eport has already mentioned endorsed roles of commerce in the space managing a variety of product and partnerships against the challenge of orbital debris. as the committee may recall, we established over 30 years ago at the executive branch advocate to the u.s. commercial space industry given that mission and the importance of the commercial space industry to our economy and national security, i believe the office must be elevated to the office of the secretary where it can fully engage in leadership. finally, i want to express my personal thanks to the committee for the space preservation and conduction emergency act 2020, 221 typically recognize complexity and urgency of space debris problem and need for intense focus action. provision to create a center centers are especially welcome given the importance of additional research in this area and i'll look forward to your nequestions. >> thank you. >> thank you, chairman. english members of the subcommittee, i'd like tomb thak you aga

at what commerce has in place. lot of talent there. a lot of strength but not focused on the technology mission in a way it might have been ten years ago. >> thank you. i like that suggestion. it's changing so fast. you have to develop expertise. mr. aboulafia, there's this effort on thermal plastics that i've heard about. i've heard about it because on the supply chain getting material for airplanes that don't have material laws in them that you have to start over is a big deal. how do we -- how do we get the focus on the core technologies that need to happen in aerospace if these are just voices in the supply chain. university had associations just because tlair europe or institutes where everybody works together. what is it we need to do to identify the next generation technology that seems to be already there in the supply chain. they are small individuals trying to compete. what do we need to do? >> the fact you're hearing about this technology indicates there's some equipment and technology that are coming to

. >> the senate commerce committee on supply chain resiliency the witnesses were asked about several topics including competition with china and the use of public-private partnerships. this runs for two hours. the u.s. committee on commerce, science and transportation will come to order. thank you all for being here. we have a distinguished group of witnesses today to talk about a very important issue to us in the united states ofs america. that is the state competitiveness of our supply chain and its resiliency for the future. each of our witnesses, the distinguished doctor james lewis, mr. rich, mr. william and i'm sorry, healer and john miller offer a variety of perspectives on the importance of this issue. i can say for me in the state of washington aviation supply chain is something we are proud of. people continue to innovate and create new products that that's where the innovation is happening in the supply chain. that's why we just recently passed the now called u.s. innovation competitiveness act that we are trying to negotiate with our colleagues because we believe in makin

unreasonably burdened in state commerce.are going to talk more generally about a question that might have a particular residence in that society which is if we think big tech censorship is a problem that some government should respond to, should that response happened at the federal level by state level or perhaps that. we got a great panel to address these issues so let me briefly introduce them. rendon r, commission on the federal communications commission and also serves as general counsel of the s fcc as lead advisor to chairman on wireless issues and as an attorney in the fcc's general counsel's office. before joining the commission, telecommunications law to buy). he graduated from catholic university lawdu school work or judge on the u.s. court of appeals on the fourth circuit. daniel francis is a permanent fellow noel fellow at the new york university school of law where he writes about constitutional law, competition law and antitrust. he previously serves deputy director, associate director and senior counsel at th

it's the department of defense, the department of commerce. and i think that by continuing the national space council, the biden administration has made it clear that leadership in the space continues to be a priority. and they already have a number of initiatives going forward. the program to land the first woman on the moon of the mars exploration was perseverance and ingenuity. watching those videos and seeing not just the attention in the senate but across america really was inspiring and i think that is the endless frontier act innovation competition act is going to help foster that excitement in a lot of places. we will also have two missions to explore venous and the gateway for future deep space exploration. let me finish and say the success also requires that stem workforce i mentioned earlier not just colorado but across the country. we see a lot of muscle that hasn't been used and i think engaging young people in space will take adversity across the country. it's what inspires so many people to go into space and i think that they ha

we already power commerce on the internet.450 million checked out on shopify, 8% of the global population. we sold about $120 billion worth of products in 2020 and now shopify represents 90% of all ecommerce in aggregate, the second largest online retailer in america. it feels more and more like the center of commerce is not only shifting online, but also is happening on shopify. we announced a lot of things yesterday at unite, they were really aimed at these major platform investments, our largest to date the idea really was to advance that internet infrastructure and give merchants more flexibility and more opportunity to present they are brand uniquely. -- their brand uniquely. emily: you also expanded partnerships with google and facebook, in the meantime when you mention the center of e- commerce, a lot of people think of amazon. here is what your c.e.o. told me last year about shopify relative to amazon, take a listen. >> amazon is trying to build an empire, what shopify is trying to do it, trying to go and get to roughl

chinese companies, social media and e-commerce have converged.hat is what we will see going forward. emily: all right, we appreciate your insights. thank you. coming up, what is old is new, at least in fashion. how gen z is vitalizing to secondhand shopping market and why they are betting big on the younger generation to do it. our discussion with the ceo is next. the prime minister of spain is in town. he will join me here at fresh out of meeting with tech ceos, including tim cook. pedro sanchez, right here later this hour. this is bloomberg. ♪ emily: amazon has hired an outside firm to investigate toxic behavior. this comes from internal commission that says there is systemic harassment, bias, bullying against women and underrepresented groups. he became the ceo a couple months ago from andy jassy. he told employees in an email they are committed to ensuring the work waste is inclusive, free of bias and unfair treatment. we will keep following that one. . the future of fashion looks like used clouds. we have gen z and the pandemic to think abou

we are pro-commerce because we are pro-good jobs in america.t, we are also pro-competition. competition is good for innovation. i used to be an investor in startup companies. smaller companies, we want them to be innovative, so they have to be able to compete. i would say we are pro-business, but also pro worker, and i don't think those things are inconsistent. alix: what role ash david: what role --david: what role does the departed of commerce have under this? what can commerce do as part of that? sec. raimondo: work with business, particularly the u.s. patent office. we want to make sure we have a robust and strong and fair and transparent and efficient ip system and patent system. so we will work with business in order to make sure there is competition and ip is protected, but also make sure that it is not good for business or commerce to have so much concentration at the top in a few industries, and that is something that we all have to be serious about. alix: you were --david: you were a venture capitalist. you know this well. how do you

i know it's a real concern do you think they are a stay at stk of the dormant commerce clause? >> i think it is a fair concern and i don't think we're quite there yet given the absence in the federal law. it looks not just to the factors that you mentioned but it's a question about whether these acts are so different that compliance with multiple laws would be possible. i don't think we are there yet. it may be very different from the california law and the possibility of the federal court and state privacy law and i think that is one of many good reasons for congress to finally enact a comprehensive policy. >> agreed. the next question in your testimony, you referred to hr 4447, the ftc act which would authorize to issue apa rulings and enable the commission to seek civil penalties for first-time offenses. something my colleagues seem to agree with. what are the consequences that may arise as a result of passing the legislation specifically i'm concerned about our other small businesses if you can elaborate on that i would appreciate it. >> congressman bill rakas, the problem

remember, amazon is an e-commerce growth company. alibaba as well did not do so well. dealing with this idea that people may not be spending any. that stimulus might be running out soon. sec is not going to be looking more closely at overseas listings and in china they are going to be looking more closely at companies that have listed here in the states. it brings me to have big tech is outperforming relative to china. this is a one-month chart and you can clearly see the orange line is outperforming but it is starting to move in tandem so there is this divergence. the question is does that continue or do you start to see the divergence grow? emily: thanks so much. the sec is demanding additional disclosures from chinese companies before signing off on bids to go public in the united states. the sec chair said agency staff have to ensure that chinese firms have gotten permission from china's government to do so. u.s. regular's must also be able to inspect audit records than three years. joining us now, bloomberg's reporter who has been covering this developing story. >

pleased to yield to another member of the energy and commerce committee. this time a decorated navy s.e.a.l., mr. crenshaw. five minutes. >> mr. crenshaw is yielded to for five minutes. >> thank you, madam speaker. i rise to highlight a dangerous implication of this bill and urge my colleagues to vote against it. there's no disagreement the federal government has a role to play in cleaning up the most heavily contaminated sites and establishing standards so that our water is safe to drink. we're united in this, both republicans and democrats. while this bill shares the spirit of that, frankly it got hopelessly lost along the way. instead it creates a mess of lawsuits. and we could have fixed this. we could have fixed this. republicans have pointed out the pitpauls. democrats say those don't exist. experts say, yes, they do. we could fix this. in committee, we discussed how this impacts a full suite of products from medical devices to computer chips but there's one element particularly concerning to me. under this legislation, a police department that purch

so, i think the connection between content and e—commerce is really strong.illiams, tech correspondent for the i newspaper. rhiannon, there are an awful lot of tech companies for you to keep on top of. how much of your day is spent legitimately scrolling through tiktok? legitimately is a very interesting term. i spend more time than i would ever care to admit. it's so compulsive and so easy to lose 45 minutes — you're waiting for a train, passing time, ad breaks in between love island is a great example. it's just very compulsive, that thumb movement that tinder helped popularise, that single gesture, and you just find yourself doing it again and again, finding yourself immersed in certain trends. and of course, the way that tiktok's algorithm is geared, the more kind of videos you watch in a certain genre, whether that's comedy, love island, or you're following the england team, the more of those it presents back to you as it learns and grows from your interests. so, i find myself presented with more and more love island memes. oh, it's deliberately more—ish

i thank him for his extraordinary leadership as chair of the energy and commerce committee. thank him for bringing this important legislation to the floor. i thank mr. tonko for his leadership as chair of the subcommittee of jurisdiction, environment, and climate change subcommittee. and thank the ranking member on that committee. i respectfully disagree with the ranking member of the full committee and i'll tell you why. i join our colleagues in support of pfas action act to address the serious public health issue. it's a threat, really. pfas chemicals, which are contaminating the water we drink, the air we breathe, and the food we eat. first, i salute representative debbie dingell, a crusader in protecting our communities from pfas chemicals. thank you, again, as i say, to chairman pallone and to chairman tonko and ranking member mckinney. mr. speaker, pfas are referred to as forever chemicals. so-called because they don't easily break down and accumulate over time. and right now, they're exposing millions of americans to health risks, ranging from cancer to asthma, liver

all women's getting a fast share of african e commerce market. the boss of nigeria, the biggest online retailer, the drums must, will tell you which base subsets 1000000000 areas plays to last themselves out of the state of your business and robots in berlin. welcome to the program. $130.00 countries have agreed to a global minimum tax on cooperation, including around 15 african nations. the deal at a meeting of the c d is part of a broader plan to overhaul international tax and show multi nationals pay their fair share of taxes in countries where they operate in washington for the meeting, germany's finance minister described it as a colossal step towards justice, the 50 and the minimum rate aims to end the practice of corporations shopping around for the lowest tax jurisdictions for their headquarters. experts say the reforms could raise an extra $150000000000.00 in taxes globally. each year we caught up with our shots after the meeting in washington. he told us the agreement is unimportant breakthrough. and it's also a huge success for democra

the age of commerce, the age of capital, the age of control and now our own age of chaos. we find in john's book wholly new ideas and frameworks. these include the core concept of capital itself which john fama and delete of an earlier generation of capital service defined as a psychological process a forward-looking monetary valuation. capital, john tells us, is not a thing but a process. a process through which a legal asset is invested with pecuniary value and likens its capacity to yield a future pecuniary profit. but this reimagining of the history of capitalism around the capital process is just the beginning of john's analysis picky also reconsiders the psychic attitudes that drive valuation. not just the profit motives but an amalgam of shifting motivations shaped to keep the valuation. imperial ambition, another white man's problem public, that site to make one smart in the heavy industries. the working man's democracy, and so on. beneath all of these visions churn the animal spirits, make sure confidence in fear about what you two will bring. john also introduces

is e-commerce or retail commerce, berkshire grey serves both markets, grocery or it is third party logisticsly chain has to improve dramatically in responsiveness and lower costs and that, i think, is the opportunity to -- for new tech companies, new ai and robotics companies that serious ai technology i think there is a big difference in the quality of technology among whether it is traditional players or affirm, i think nobody else can match as far as i can tell or in a b berkshire grey, without a lot of customization. >> yeah, more smarter robots seems like a safe bet at this point in time. vinod, thank you so much. >> thank you very much >>> coming up on the show, cathie wood explains her stance on chinese tech stocks that's next. plus, a co-founder of google self-driving car project takes his own startup public don't go anywhere. "techcheck" is just getting started. this is the gap, that opened up when everything shut down. ♪ but entrepreneurs never stopped. ♪ and found solutions that kept them going. ♪ at u.s. bank, we can help you adapt and evolve your business, no matter what you're

the commerce clause paired with the commerce clause for a folks out there, we don't want new york andinst each other. so ultimately, the federal government regulates interstate commerce. well, that is what's going on right here. and i think ultimately if this makes it to the supreme court, they are going to decide its economic protectionism. rhode island is saying, you can't buy wine from a retailer out in california. that is against the commerce clause, it is unconstitutional, let the vino flow. i think this is ultimately going to be a supreme court case and it's going to go on the favor of the folks challenging. >> mike: let the vino flow, i like it. contacting out-of-state merchants and prevented from purchasing and receiving a lawful product and an interstate marketplace in which they wish to participate. rich, what is your take? >> he's right. the bottom line here is if you can't discriminate against out-of-state wine distributors, then let's be clear. i live in rhode island and i want to order wine form of rhode island wind is jupiter, i'm entitled to it. if i want to order wine

chamber of commerce. without objection, i asked for these letters to be entered into the record. >> without objection. >> the amendment is a collection of 10 individual amendments. some parts of it are indicative of the underlying bill. it's provisions you don't need in a bill to accomplish because epa is doing them. other parts of the amendment highlight why the overall bill should be opposed, and many do oppose it. let me give you some examples. the amendment contains a division that would -- household well water testing. ironically, epa already has that website. for those interested, it is www. epa.gov/private loans. among its existing resources, items called for in these amendments. health effect discussions. the third party certification recommendations. any other issues could be solved by updating this website. the amendment also doubles down on certain consumer product problems. the underlying bill creates and kicks it up a notch. it as luggage, umbrellas, and food packaging materials to section 10