U.S. Department of Commerce

Background

The U.S. Department of Commerce (DOC) is a federal executive department established in 1903, dedicated to promoting economic growth, job creation, and sustainable development across the United States. The department's mission is to create the conditions for economic growth and opportunity for all communities. Through its 13 bureaus, the DOC works to drive U.S. economic competitiveness, strengthen domestic industry, and spur the growth of quality jobs in all communities across the country.

Key Strategic Focus

The DOC's strategic objectives include:

Driving U.S. Innovation and Global Competitiveness: Fostering advancements in science and technology to maintain the nation's competitive edge.

Fostering Inclusive Capitalism and Equitable Economic Growth: Ensuring that economic benefits are broadly shared across all communities.

Addressing the Climate Crisis Through Mitigation, Adaptation, and Resilience Efforts: Implementing strategies to combat climate change and its impacts.

Expanding Opportunity and Discovery Through Data: Leveraging data to inform policy and drive innovation.

Providing 21st Century Service with 21st Century Capabilities: Modernizing services to meet contemporary needs.

Financials and Funding

As a federal agency, the DOC is funded through congressional appropriations. In fiscal year 2024, the department's budget was approximately $20.5 billion, supporting its various programs and initiatives.

Technological Platform and Innovation

The DOC fosters innovation through several key initiatives:

National Institute of Standards and Technology (NIST): Develops standards and conducts research in emerging technologies such as quantum computing and artificial intelligence.

National Telecommunications and Information Administration (NTIA): Manages and regulates the radio frequencies within the wireless spectrum, supporting the digital economy.

National Oceanic and Atmospheric Administration (NOAA): Advances research and development in climate science and the commercial space industry.

U.S. Patent and Trademark Office (USPTO): Ensures American innovators can profit from their work by providing intellectual property protections.

Leadership Team

Howard Lutnick, Secretary of Commerce: Appointed by President Donald Trump, Lutnick is the former CEO of Cantor Fitzgerald. He was confirmed by the Senate on February 5, 2025.

Jeremy Pelter, Acting Deputy Secretary of Commerce: Pelter has served in various roles within the department, including Deputy Assistant Secretary for Administration. He became Acting Deputy Secretary on February 21, 2025.

Jeffrey I. Kessler, Under Secretary for Industry and Security: Confirmed on March 13, 2025, Kessler oversees the Bureau of Industry and Security, focusing on national security and high technology.

Leadership Changes

In early 2025, Howard Lutnick succeeded Gina Raimondo as Secretary of Commerce. Jeremy Pelter served as Acting Secretary from January 20 to February 21, 2025, before Lutnick's confirmation.

Competitor Profile

As a federal agency, the DOC does not have direct competitors. However, it collaborates and sometimes overlaps with other federal agencies such as the Department of Labor, Department of the Treasury, and the Small Business Administration in areas like economic development, trade policy, and business support.

Strategic Collaborations and Partnerships

The DOC engages in various partnerships to enhance its mission:

SelectUSA: A program that promotes foreign direct investment into the United States, facilitating job creation and economic development.

International Trade Administration (ITA): Works to promote U.S. exports, attract inbound investment, and ensure fair trade.

Operational Insights

The DOC's distinct competitive advantage lies in its comprehensive approach to economic development, encompassing trade promotion, technological innovation, and data collection. Its ability to coordinate across various sectors and leverage its bureaus' expertise positions it uniquely to drive U.S. economic competitiveness.

Strategic Opportunities and Future Directions

Under Secretary Lutnick's leadership, the DOC is expected to focus on implementing aggressive trade policies, including tariffs, to protect U.S. industries and promote fair trade. Additionally, the department aims to enhance domestic manufacturing capabilities, particularly in the semiconductor industry, and address challenges related to artificial intelligence and emerging technologies.