Commerce Department

DAVOS, Switzerland—As the U.S. seeks allies in a new cold war with Russia and China, it does so without a lever that helped win the last one: new economic pacts like the General Agreement on Tariffs and Trade and the North American Free Trade Agreement. They are nonstarters in a Congress in which both parties have turned more protectionist.“In the era between World War II and now, the U.S. has used traditional trade agreements to get close to our allies,” Commerce Secretary Gina Raimondo…

WASHINGTON—Amid growing tensions with China, the Biden administration is forging closer economic ties with Taiwan in areas including trade, supply chains and technology-export controls.The U.S. Trade Representative’s office on Wednesday unveiled a new pact with Taipei to promote bilateral trade in areas such as digital trade, clean energy and labor rights. The two partners will also collaborate to address nonmarket practices and policies, including those conducted by state-owned enterprises, an issue representing…

Orders for long-lasting goods such as appliances, computers and cars rose in April, driven by an increase in new aircraft orders. New orders for products meant to last at least three years increased by 0.4% to a seasonally adjusted $265.3 billion in April following a revised 0.6% rise in March, the Commerce Department said Wednesday. April marked the sixth increase in seven months. Nondefense aircraft and parts orders were up 4.3%, rebounding from an 8.1% decline in March.…

U.S. shoppers increased retail spending in April for the fourth straight month as inflation held close to its highest level in four decade, the Commerce Department said Tuesday. Retail sales—a measure of spending at stores, online and in restaurants—aren’t adjusted for inflation. That means that while consumers have continued to spend more, they are likely getting less due to rapidly rising prices. In March, for instance, retail sales rose largely because of a sharp jump in gasoline…