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Motor vehicles fell 1.6%, held down in part by the expiration of federal tax incentives on electric vehicles. Cheaper gasoline prices held down the value of gas station receipts.

The value of retail purchases, not adjusted for inflation, increased 0.2% after a 0.6% gain in August, Commerce Department data showed, after being delayed due to the government shutdown.

Speaking at the Bloomberg New Economy Forum in Singapore, Raimondo argued that the political cost of unwinding tariffs is too high for any future administration, regardless of party. 

The Commerce Department is slated to announce a five-year extension for an arrangement that allows automakers to reduce what they pay in tariffs on imported car parts.

The Commerce Department reported Sept. 26 that its personal consumption expenditures price index was up 2.7% in August from a year earlier.

The Commerce Department had previously estimated second-quarter growth at 3.3%.

Tariffs under Section 232 of the Trade Expansion Act are already in place for steel and aluminum and have compelled truck makers to increase their prices.

The first-quarter GDP drop, the first retreat of the U.S. economy in three years, was caused by a surge in imports as businesses scrambled to bring in foreign goods ahead of Trump’s tariffs.

U.S. rules require rail mergers to show that a deal would serve the public interest and enhance competition, a step beyond merger requirements applied to other industries.

The goods and services trade gap shrank 16% from the prior month to $60.2 billion, Commerce Department data showed Aug. 5.