On November 23, 2018, The Wall Street Journal published "America Has a Surplus in Services," an op-ed by Citi CEO Mike Corbat, where he weighs in on how trade in services contributes to the economy. Corbat notes that last year, the U.S. trade surplus in services came to more than $250 billion, bringing the total trade deficit down to around $550 billion. He notes that in the knowledge-based economy, the traditional division between services and manufacturing is becoming artificial and obsolete. Trade is not only an exchange of hard goods, he says; it is a complex exchange of multiple soft services and hybrid products - part goods, part service. Ignoring this is tantamount to pretending that companies like AmazonCitiFedExGoogle, and Microsoft don't exist. The article can be found on the Wall Street Journal website.

 

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The Coalition of Services Industries
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CSI is the leading business organization dedicated to the development of U.S. domestic and international policies that enhance the global competitiveness of the U.S. service sector through bilateral, regional, multilateral, and other trade and investment initiatives.

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