We’re glad Trump tariffs do not affect tech services. Still a global recession is not good, but any small businesses looking to lower costs, feel free to contact our domain and hosting company at save@edelta.net.
See our CEO’s article on Linkedin below about the US’ services trade surplus, and how it’s not included in the latest tariffs.
So glad that services are ignored by the Trump tariffs.
April 7, 2025
As a provider of tech services, I’m glad the Trump tariffs do not affect tech services. Of course, a global recession is not good, but any small businesses looking for ways to lower costs, feel free to message me.
It’s nice though to have businesses that don’t’ have to pay sales taxes (except in 7 states), or tariffs. Services are not included in Trump’s trade deficits with various countries.
The US generally experiences a services trade surplus including sectors like technology, media, and entertainment. Streaming services like Netflix, which are a major part of the media and entertainment sector, contribute to this services trade surplus by exporting content and subscriptions globally.
The rapid growth of digital media and streaming services has led to new challenges and opportunities in international trade, including questions about taxation and trade agreements.
The World Trade Organization (WTO) has a moratorium on digital customs charges, which has kept online transactions free of tariffs, but this moratorium is under pressure. However, it’s not like the tariffs on goods are compliant with WTO rules.
In 2024, the US goods and services trade deficit was $918.4 billion with a goods deficit of $1,211.7 billion and a services surplus of $293.3 billion.
Here’s a more detailed breakdown:
- 2024 Goods and Services Deficit: $918.4 billion
- 2023 Goods and Services Deficit: $784.9 billion
- 2024 Goods Deficit: $1,211.7 billion
- 2024 Services Surplus: $293.3 billion
- 2024 Exports: $3,191.6 billion
- 2024 Imports: $4,110.0 billion
- 2024 Goods and services deficit as a percentage of GDP: 3.1%
- 2023 Goods and services deficit as a percentage of GDP: 2.8
Here’s a more detailed breakdown of the U.S. service trade balance with specific countries in 2024:Surpluses (in billions of dollars):
- Netherlands: $55.5
- South and Central America: $47.3
- Hong Kong: $21.9
- Australia: $17.9
- United Kingdom: $11.9
Deficits (in billions of dollars):
- China: $295.4
- European Union: $235.6
- Mexico: $171.8
- Vietnam: $123.5
- Ireland: $86.7
- Germany: $84.8
- Taiwan: $73.9
- Japan: $68.5
- South Korea: $66.0
- Canada: $63.3
- India: $45.7
- Thailand: $45.6
- Italy: $44.0
- Switzerland: $38.5
- Malaysia: $24.8
- Indonesia: $17.9
- France: $16.4
- Austria: $13.1
- Sweden: $9.8