The article discusses concerns about Donald Trump's trade policies, particularly regarding the export of digital services from the US. According to a report by Allianz Trade, the focus on goods deficits may undermine America's significant digital trade surplus, valued at over $600 billion. This surplus includes sectors like digital advertising and cloud services, which are growing rapidly but often go untracked in traditional statistics. The report emphasizes that without reevaluating trade strategies, America risks losing its competitive edge in the digital sector, especially amidst ongoing global trade negotiations.
Amid other key findings, the group warned that the US's fixation on the country's trillion-dollar goods deficit risks rocking 'the fastest-growing segment of global trade,' America's 'invisible exports' of financial and digital services.
If Trump doesn't 'rethink trade policy and narratives' soon to start tracking all this trade more closely, he risks undermining this trade advantageâ which is underpinned by America's innovative firms and massive data infrastructure.
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