lutnick: you gave the department of commerce the tools to bring domestic semiconductor manufacturing home. i think it needed that jump start and in a bipartisan way you created the jumpstart. i believe that was necessary and important. you will see this department of commerce bring domestic manufacturing of semiconductors and then drive after that in the supply chain to the united states of america, drive it here. we are too reliant on taiwan. we need to have, for national security, and our business, the production here. sen. kim: i agree. i certainly want to see the manufacturing back. senator budd and others were talking about deepseek, their concerns we face, not just with semiconductor manufacturing, ai, and other technologies. what i'm trying to think through, as a member of this committee and elsewhere, is there a two point know that we can build upon with chips and science to have a coalition stay together? maybe not necessarily specific on chips anymore. but on a different death -- different element of critical manufacturing or technology and innovation is that something you w

with the commerce department with the process, mr beginning the process, mr lightening the fund lighteningiei$ie which 777 77775iiii£f$ie with}; 77 sale of tiktok which is currently operating in the us due to any tension signed by trump along donald trump along the deadline for a for sale or shutdown far a for sale or shetdawnrr ~ ~ .,, ~ ~~ donald trump is 77fe7wd7e7tails7 7 few deta|lsand 777fe77w77d77e7tails77ah7d it77 7 77 few details and it was offered few details and it was �*such a offered few details and it was �* such a wealth unclear such a wealth fund would work. he has previously said it could be in 7 tariffs, such rely o7n a rely on a �*s f�*jfi�*d? f§l¥ fifil if “eh“??? 777 77777 7 surplus {eeee fee? ee e “he“??? 777 77777 7 surplus to {eeee fele ee e teeeffe7e7 777 77777 7 surplus to make budget surplus to make investment to generate returns, the us operates at a but the us operates at a deficit, creation also deficit, its creation also likely require approval would likely require approval congress. created it = 777- ce m pla7ce us alongside other countries that several other c

that charges treasury secretary scott bessent and howard lutnick, trump's nominee, to lead the commerce department, which is currently industries 7 technologies 7 future. and technologies of the future. this of the us this announcement of the us sovereign wealth fund is news news that is heats that is iiikeiit; fantastic news that is likely to greatly accelerate us economic growth shore us economic grdwtbabta'sbors up us security economic grthbano'sbors up us security a economic grthbano'sbore up us security a time national security at a time when we are coming under iglcgeasing from when we are coming under insceasing from china. increasing threat from china. to answer your question, what is a sovereign wealth fund? it is a sovereign wealth fund? it is a sovereign wealth fund? it is a on the us government is a on which the us government would take equity stakes, it would take equity stakes, it would be acting as a giant venture capitalfirm, taking venture capital firm, taking equity in venture equity sta keslinjoint mental re are being equity sta keslinjoint mental re the |re being equity sta kes

the treasury and commerce departments will now have 90 days to come up with a plan on how to create theon in oil rich countries like saudi arabia. >>> and a win for the philadelphia eagles could be a win for your pet this weekend, too. national online pet retailer chewy is giving away thousands of treats for birds, dogs, and cats for free if the eagles beat the chiefs. now, if that happens the company will release a promo code that can then be redeemed for select treats on their website. that's your cbs "moneywatch" report for this tuesday morning. i'm shanelle kaul, cbs news, new york. >>> up next the dunkings are back. ben affleck returns with friends for a new super bowl ad. we'll have a sneak peek. the du back. i lowered my a1c, cv risk, and lost some weight. in studies, the majority of people reached an a1c under 7 and maintained it. i'm under 7. ozempic® lowers the risk of major cardiovascular events such as stroke, heart attack, or death in adults also with known heart disease. i'm lowering my risk. and adults lost up to 14 pounds. i lost some weight. ozempic® isn't for type 1 di

treasury and howard money, secretary and howard money, jumps nominee to lead the commerce with commerce departmentund could ev: the sale of tiktok, facilitate the sale of tiktok, which is operating in which is currently operating in the us and due an the deanaa�*uatfi an aatanaifin trump, belonging the heaneeuetfi an eatenaifin trump, belonging the by trump, belonging the for a bytrump, belonging the for a forced sale or deadline for a forced sale or trump has few and it how details and it was unclear how such wealth fund work. it is such a wealth fund work. it is said it could previously said it could be funded in by tariffs. funded in part by tariffs. typically such funds rely on a to enerate returns subclass to generate returns. the us operates at a for the us operates at a deficit. it's creation would deficit, it's creation would likely require also likely require approval from congress. it created, it would place the alongside woutd place'the' us'alongside other that woutd place'the' us'alongside a other that woutd place'the' us'alongside a sovereign that woutd place'the' us'alongside a sovereign

going out and trying to lobby other governments to stop using huawei export controls by the commerce department and so it really was an administration wide sort of scrutiny of this company that included this sanctions violation issue. so is any would this any chance after this occurred and you know, it had the hostage diplomacy. meng goes back to china. she's welcomed as a hero to microsoft release. they go back to canada after all this happened, it's why are we ever going to be able to disassociate itself from the chinese government or is it fairly clear now that the chinese government is going to do what it takes to protect huawei and, you know, does that matter for it moving internationally? i think i think it's going to be harder than it's ever been from for huawei to sort of dissociate itself from china's government in the next few years in that the environment has become only one of more and more distrust of each other's technologies between the united states and china. and we're the line move even further in the direction of distrust and scrutiny like that. currently, the issue being tic

so, the united states commerce department would not even allow me to file a complaint. i brought that issue here. and thanks to the good work and at the time i think it was chairman nelson and chairman wicker, we were unable -- we were able to unwind that and after six years panama returned the land to my family. sen. sheehy: there -- chair cruz: very instructive. senator ron -- senator young. sen. young: thank you for being here. the panama canal underpins our current economic strength and national security. when 40% of u.s. bound container traffic depends on a single waterway we cannot afford unilateral toll hikes that choke out of -- competition and leave smaller carriers or midwestern exporters on the hook. for instance in indiana, manufacturing firms and farmers rely on consistent, recently priced shipping routes to move heavy machinery, auto parts and agricultural products. if the canal authority's auction system prices them out the ripple effects in american jobs and supply chains could be devastating. chairman, given the enormous state in canal operations, do yo

treasury and commerce department to create the first national sovereign wealth fund. says this fund could be used to purchase a social media platform, tiktok. the fund would be a government owned and administered investment fund. the trump administration says it will aim to monetize the asset side of the u.s. balance sheet. on the campaign trail, he spoke about establishing this fund and said money could be raised through tariffs as well. >> new research suggests that vacations are good for you. a study out of the university of georgia finds that breaks from your daily routine are critical to your well-being. it looked at more than two dozen other studies conducted in nine countries, and found that time off is best when you completely disconnect from work and when physical activity is part of the agenda. the study also found it's best to schedule some buffer days before and after the time to get ready to go, and then sort of readjust to everyday life. >> multitasking has become a regular part of daily life for many people, and now one company says it's developed an ap

. >> of philadelphia, philadelphia parks and recreation, philadelphia commerce department, delaware valleyligence center, free library of philadelphia. >> we will continue to update you with any new developments. now back to politics. we're following breaking news this afternoon. as promised, the trump administration has signed three separate executive orders this evening, enacting tariffs on canada, mexico and china. they include 25% tariffs on imports from mexico and canada, excluding canadian energy products from there, and which will be tariffed at 10%. chinese imports will face a 10% tariff. the orders also include a retaliation clause promising further action if those countries respond with tariffs on their own. meantime, it's been a busy week on capitol hill as several of trump's most controversial cabinet nominees appeared before the senate for their confirmation hearings. so far, the new administration has faced little resistance from republicans on his staffing pick. however, selections like kash patel for the head of the fbi, robert f kennedy jr for health secretary, and tulsi g

department of public; 111 department of philadelphia department of aviation, the school district philadelphia, philadelphia and recreation, philadelphia commercertment of z: the fbi, w the fbi, the transportation, the fbi, the bureau of alcohol tobacco firearms and explosives, the federal aviation american cross, the army bed trees the salsationle'rme” ”f" the gee trees the salsatienle'rme” ”f" the fraternal order of and the fraternal order of police. as you can see from this very long list is this very long list there is for this .w 71177711177 investigation. 1! will turn it �* to hicks for a few wwwwww wwtow wwaboth wtow wwaboththew minutes to talk about the flight and then i will return talk about the itself. just a little bit about the flight _ just a little bit about the flight itself. the flight florida yesterday w— -ww w about 12pm. w afternoon about 12pm. the aircraft _ afternoon about 12pm. the aircraft arrived at northeast l w to philadelphia airport around to 15 pm — philadelphia airport around to 15 pm it _ philadelphia airport around to 15 pm. it was on the for l5 pm. it was on the ground for e few_ l5 pm. it was on the ground for

trump signed an executive order calling on his treasury and commerce departments to take the lead here in setting up a sovereign wealth fund. and scott besson is in the oval office as well, telling reporters it should be stood up within 12 months. this was something we heard from trump about on the campaign trail, saying there was interest in it. president biden, by the way, was interested in this as well. and on the tiktok front, he said that that sovereign wealth fund could potentially be used to make some sort of a deal with tiktok, potentially using some of that money to purchase half of tiktok, as he's talking about, has he's been talking about wanting to find a buyer for that half of tiktok. and then finally, guys, just a couple of headlines as well about elon musk and all of the news that's been going on today with relating to him and usaid and the treasury department's payment system. trump, responding to questions here, saying that musk is doing things only when we give him approval, saying that musk has access only to letting people go if we need to, and saying we won't let e

-- commerce department runs an icy potential for collaboration with sba. i support working across the administration to ensure resources are utilized and we don't have overlap in our programs and they are serving americans who need those services the most. sen. cantwell: thank you. will you work with me to ensure the department of agriculture needs the same small business set-aside challenge that dod has so successfully done but in this case the department of agriculture giving small mills the access they need. will you work with me to make sure those important sba issues are addressed at the department of agriculture? ms. loeffler: i appreciate our conversation about your timber business. i think if confirmed, i would look forward to working with secretary rawlins to ensure we have a collaborative relationship. i understand there was previously an mou with the department of agriculture and i hope we can collaborate to help small businesses as well. sen. cantwell: thank you. let's just carry that on. one of the reasons we want t

>> according to the commerce department. that can take well over two years, a decision whether or not we're going to build or not. and particularly when we've had the conversation and you dovetail certain policy and we're not getting spectrum quickly and how fast do we permit on the permitting side to build networks further out and the time is considerable and hurts our ability to guild out facilities as fast as we want to. any steps to allow us to do that more quickly with more certainly and transparency can be a game changer to amplify how quickly you do it on spectrum. >> thank you, i'll yield back, mr. chairman. >> thank you for yielding back. i now recognize the representative from california, mr. peters, for five minutes of questioning. >> and thank you, mr. chairman, the first time i've been on this committee, one of the benefits of seniority besides creaky knees, and choosing. and one of the main pillars of our economy in san diego, to think i think are directly implicated here, and our military presence. in san dieg

the department of commerce did an analysis of that shortage which prevented carmakers from finishing r automobiles, and the department of commerce found that that shortage during the supply chain crisis of covid shaved 1% off the u.s. economy. so our economy is 1% smaller than it would've been if that ship shortage had not been the case. if china was to invade taiwan, that would lead to massive disruption in the global chip supply chain. we are talking far, far worse than the shortage that we experienced during covid. this will begin economic catastrophe that very few people in the u.s. can even remember. it would be an economic apocalypse analogous, the closest analogous would be the arab oil embargo in this reasons to think it could be considerably worse than that. and of course taiwan, they are the most fans to chip maker which means they are the supplier of all the most advanced ai chips. that is something that china would love to get his hands on. there's a reason why they are building a fleet amphibious assault ships and it is to prepare to retake taiwan. there's a reason why ch

the department of commerce did an analysis of that shortage which prevented carmakers from finishing r automobiles, and the department of commerce found that that shortage during the supply chain crisis of covid shaved 1% off the u.s. economy. so our economy is 1% smaller than it would've been if that ship shortage had not been the case. if china was to invade taiwan, that would lead to massive disruption in the global chip supply chain. we are talking far, far worse than the shortage that we experienced during covid. this will begin economic catastrophe that very few people in the u.s. can even remember. it would be an economic apocalypse analogous, the closest analogous would be the arab oil embargo in this reasons to think it could be considerably worse than that. and of course taiwan, they are the most fans to chip maker which means they are the supplier of all the most advanced ai chips. that is something that china would love to get his hands on. there's a reason why they are building a fleet amphibious assault ships and it is to prepare to retake taiwan. there's a reason why ch

i think you'll see the commerce secretary, you will see the interior department, all of them workingnd protect america. that's what biden was supposed to be doing. he was going to get to that. he was going to get to that protecting america think right after the napa. >> i don't think he was going to do that. are from day one we knew he was not going to be doing that. by the president trump has put on a great team. night forcing them continuing. some of the ideas, greenland, you're out of your mind. canada 51st state, now that thinking about if they're watching tonight. we owe japan $1.1 trillion. that's a lot of money. we've been having protection for japan since the 60s when we signed a treaty. 54,000 u.s. soldiers are in japan to make sure they are safe. we all that 1.1 trillion. to be japan audit forgive the 1.1 trillion and i think that's another thing president trump can negotiate. >> laura: time to negotiate down all that data. come back soon. love having you on. thank you so much. new warnings about the air traffic control masset that biden left behind. transportation secretar

amount of money off the bat an.d i think you will see the commerce secretary when he is confirmed, you will see that i sent an interior department.at that is what biden was supposed to be doing but he was working so hard that he was going to get to that, he was going to get to that protectna america thing rit after his nap.>> i >> i don't think he was going to did that. i thin dayk from day one we knee was not going to be doing that. president trump put on a great team together and by the way, i for see him continuing. o someut of these ideas greenland, you are out of your mind. canada at the 51st state you are out of your mind i.ng with this camp i ts watching tonight we owe japan $1.2 trillion, a lot of money. but we have had protection sincd we signed a treaty.,0 0054,000 u.s. soldiers in japan make sure they are safe. we owe them $1.1 trillion that maybe japan ought to forgive $1.1 trillion and another thinke president trump can negotiate on behalf of americans. >> laura: time to negotiate all that debt. patrick, come back. we love having you on.ro thank you is much. new air traffic control mess biden left behind. sean duffy

department was involved in. donald trump saying, no, we're in the business now of business, american commerce, and securing the westernto america's interests. charlie: and, of course, left the door wide open for china to to come into those countries and take over in very -- and, by the way, long-term, damaging ways for those countries. because once you get indebted the china, you're kind of doomed. but donald trump looked at all of it, and i think tariffs and the panama canal, they're very similar tools in that trump looks at this and says, wait a minute, we're the greatest, biggest, most powerful economy on the planet, i'm going to use that to my advantage. i'm going to use that to get things for my country. so he's doing that with the panama canal because we send so much material through there, and he's doing it with tariffs because he knows canada, mexico or china is going to go to their knees -- joey: it is a very anti-establishment idea with. all of these tools exist in the same toolbox. years past would say, you know, we're going to the fight a proxy war against china here, but we're not going to touch our econo

commerce and yee's martial arts and lion dance group. seven emts and paramedics from the san francisco fire department went on a medical mission in centraley were volunteers for the castaneda kids foundation, a charity dedicated to providing aid to needy families in el salvador. they say the heat was challenging, but they came prepared and used their medical skills to help more than 3000 patients in just one week. that trip was self organized and not funded by the san francisco fire department. >> thousands of people ran in the rain for the san francisco half marathon. many of the runners out there were bundled up in the wet, cold conditions. the route started off at golden gate park's jfk promenade, and took the runners all the way through the park and along the pacific. there was also a five and ten k run. >> you guys excited? yeah. all right. bring it in here. >> and the golden state warriors treated a group of east bay students to a unique basketball camp. the students met at ultimate field house in walnut creek, where they were given the opportunity to shoot 360. the advanced training system collects data and uses cutting edge techn