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Earlier quoted context omitted.
There are valuable things out there other than "physical goods".
Well, how are going to charge for them? For example, how to deal with Steam? most of the games I buy there (Baldurs Gate 3 for e.g.) are not made in the USA.
When they talk about trade deficits do they take into account tourism and other cross-border services? Or is it just goods, and in that case why focus on goods?
Generally they are just goods. It’s much easier to measure physical goods crossing customs. It’s very difficult to measure whether that guy in your restaurant was a tourist or not. And that’s the simple case believe it or not… This is one of the reasons service oriented economies seem to run huge deficits…
Everything is Microsoft and Co. in Europe and elsewhere, both the OS and things like AWS or Office 365 subscriptions.
When they talk about trade deficits do they take into account tourism and other cross-border services? Or is it just goods, and in that case why focus on goods?
> When they talk about trade deficits do they take into account tourism and other services? If the USA wants tourists, they better ensure not to annoy tourists by their visa policy, or even by detaining tourists: > Germany Issues Travel Warning for US > https://www.newsweek.com/germany-issues-travel-warning-us-20...
However, the article you linked to states its not an offical travel warning, more like an advisory.
> But they also stressed that this change does not count as an official travel warning
The USA captures most of the value from selling iPhones worldwide, but yet the entire value of an iPhone counts only as a Chinese export. Something is not right with how we calculate these things.
A long time ago, Britain was the dominant economic power in the world. Britain had a massive trade deficit with India. It imported far more from India than it exported to India. But what Britain did was import massive amounts from India and made high value goods at home and provided high value services that couldn't be provided elsewhere. Should it have flipped the other way? In 1800, should Britain have suddenly shi…
How about the US pays them well for their work so they can afford all these "high value" items?
Oh no, we economically enslaved all these people to our clothing in sweatshops for pennies an hour, but now they're not buying our...1000$ tablets that don't even have a calculator app...or whatever else the US considers "high value"... Oh how terrible!
The USA captures most of the value from selling iPhones worldwide, but yet the entire value of an iPhone counts only as a Chinese export. Something is not right with how we calculate these things.
iPhone sales don't count as a US export when calculating the trade deficit? Does anyone have information on this? Seems like a major issue indeed.
Earlier quoted context omitted.
Well, how are going to charge for them? For example, how to deal with Steam? most of the games I buy there (Baldurs Gate 3 for e.g.) are not made in the USA.
And USA get 30% (or 20% depending on the studio) of the price you paid. Do you use Android, windows or Apple, or any licensed software?
Do you see the word "physical" in my original comment? And me saying that I don't buy such things?
I will admit to buying Intel CPUs, but aren't they manufactured in the Far East?