U.S. Services Exports: Time for Japan to Lower Barriers
The United States' whopping trade deficit with Japan--some $37 billion last year--is well publicized. Much less v?ell known is the $3 billion, perhaps much bigger, surplus enjoyed by the U.S.in 1983 in exporting services to Japan. Services is a broad but expanding category'that includes banking, insurance, tourism, communications, legal fees, and countless other categories of transactions essential for modern societies. While the U.S. services surplus currently scarcely offsets its trade deficit, eventually it could make a huge dent in it. Indeed, one of the most promising areas of U...
Source: heritage.org