Trump tariffs put U.S. services trade surplus with China at risk [BNN Bloomberg (Canada)]
Microsoft Corporation (MSFT)
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Source: BNN Bloomberg
While most of the focus in Washington is on the U.S. goods deficit with China, services have long been a bright spot for American companies. Last year alone, the US sold a net US$32 billion in services to China — including education, travel, and entertainment — and nearly US$300 billion globally. That flow could now be in Beijing's sights. Two prominent Chinese bloggers posted identical lists of possible countermeasures this week that included curbs on U.S. services. Authorities have already moved to cut the number of American films allowed in Chinese theaters, suggesting broader retaliation beyond goods may be underway. The U.S. services surplus isn't just with China, but a pattern seen with many of its trading partners. Singapore Prime Minister Lawrence Wong said this week that that side of the story has been “completely ignored” in the broader trade debate. With tensions rising and services in the spotlight, here's a look at the areas of U.S.-China trade that could be next i
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