The U.S. economy maintains a robust trade surplus in services, valued at $278 billion in 2023, despite President Trump's focus on trade deficits in manufactured goods. Services account for 70% of the U.S. GDP and include key sectors like healthcare, education, and finance. Trump's criticism of trade deals with countries like China and Canada overlooks the strength of the U.S. services sector, which has been growing steadily. Economists suggest that this focus on goods instead of services may be a strategic move to resonate with the working-class voters.
The U.S. economy, heavily rooted in services which now account for about 70% of its GDP, has experienced a trade surplus of approximately $278bn from exports.
While President Trump claims unfair trade deficits, he overlooks the robust growth of U.S. service exports, contributing significantly to the national economy and trade surplus.
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