U.S. Department of Commerce

Definition

The U.S. Department of Commerce is a federal agency tasked with promoting economic growth, job creation, and sustainable development through policy, partnerships, and measurement of economic activity. It plays a critical role in supporting American businesses by facilitating trade, enforcing international trade agreements, and improving the country's technological infrastructure.

Related terms

Economic Policy: Policies set by government to influence the economy’s direction focused on regulating and controlling factors like inflation rates, employment levels, and maintaining economic stability.

International Trade Agreements:

Legal agreements between countries that determine how they trade with each other; these agreements typically aim to reduce tariffs and other trade barriers to stimulate trade.

Technological Infrastructure: The foundation facilities and systems serving an economy or organization in terms of communication, transportation, water supply etc., crucial for its economy's functioning and competitiveness