In testimony before the Senate Appropriations Subcommittee on Commerce, Justice, and Science, Secretary Howard Lutnick highlighted the United States Department of Commerce’s economic agenda under Donald Trump. Officials pointed to major semiconductor and energy investments, new trade deals, and policies aimed at reshoring critical industries like steel, pharmaceuticals, and technology.
The department emphasized record foreign investment, increased exports, reduced trade deficits, and initiatives to strengthen supply chains, national security, and innovation. Additional priorities include modernizing agencies, enforcing trade rules, supporting AI standards, and expanding law enforcement to protect U.S. technological leadership.
Key Industrial & Energy Investments:
Semiconductor & Advanced Manufacturing
- TSMC – $265B advanced semiconductor manufacturing investment in the U.S.
- Micron – $200B for memory chip manufacturing in Idaho, New York, and Virginia
- Texas Instruments – $60B for 7 semiconductor fabs across Texas and Utah
Energy & Power Infrastructure
- Multiple $15B+ energy investments across Pennsylvania, Georgia, Texas, and Tennessee
- 9.2-gigawatt natural gas power plant (Ohio) – $33B project
- Natural gas power hub (Southwest Pennsylvania) – $17B
- Natural gas power hub (East Texas) – $16B
- Small modular nuclear reactors (Tennessee & Alabama) – up to $40B
- Deepwater crude oil export terminal (Gulf Coast) – $2B
- Synthetic diamond manufacturing facility (Georgia) – $600M
Trade & Industrial Agreements
- Japan trade and investment deal – includes $550B in projects across energy and infrastructure
Pharmaceuticals & Reshoring
- Pharmaceutical manufacturing reshoring commitments – ~$400B
Aerospace & Industrial Exports
- Boeing, Wabtec, and others – $244B in foreign public contracts supporting U.S. exports and jobs
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