Posted on 06/12/2018 10:29:23 PM PDT by Olog-hai
German Chancellor Angela Merkel on Tuesday struck back at US President Donald Trump’s repeated complaints over the US trade deficit.
Merkel pointed out the United States actually runs a significant account surplus with Europe if one factors services into the equation.
She went on to say that the current accounting systems for global trade needed to be updated to also take services into account.
“Trade surpluses are calculated in a relatively old-fashioned way nowadays,” she told an audience of businessmen at the Christian Democratic Union’s Economic Council Conference in Berlin. “If services are included in the trade balance, then the US runs a big surplus with Europe. And the share of services will only grow.” […]
According to the Office of the United States Trade Representative, the US goods and services trade deficit with the EU was $92 billion (€78 billion) in 2016. The US goods trade deficit was $137 billion, while it ran a services trade surplus of $55 billion. …
(Excerpt) Read more at dw.com ...
> “What kind of ‘services’ do we provide to the EU?”
Our military defends them.
What kind of services does the U.S. supply in Europe?
Travel Services; Computer & Buiness services (consulting); Royalties and License fees; Financial Services (Investing, Banking, Accounting); Government & Military contracts.
https://www.thebalance.com/u-s-imports-and-exports-components-and-statistics-3306270
The worldwide market for porn movies is huge and growing. Remember Osama Ben Laden was watching porn in his hideout in Pakistand.
Since the U.S. is the biggest provider of porn, especially blonde porn, in the world, I have no doubt that lots of Germans buy into it. And the sex-starved Islamic refugees probably rev up with U.S. porn before assaulting German girls.
How much does the security we provide Germany cost each year?
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Excellent point! But I doubt she would count that.
That's good to know, it doesn't change the facy yhat we've got a trade imbalance with Germany and her neighbors.
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