1、 https:/crsreports.congress.gov Updated January 21, 2022International Trade in Services International trade in services refers to a wide and growing range of economic activities. These activities include transport, tourism, financial services, use of intellectual property, telecommunications and inf
2、ormation services, government services, and other professional services, from accounting to legal services. In 2020, services accounted for 82% of total U.S. private employment and 69% of U.S. gross domestic product (GDP). Trade in services, including as inputs to other traded products, can have a b
3、road impact across the U.S. economy. The United States is the worlds leading services exporter and importer. The United States continues to negotiate trade agreements both bilaterally and multilaterally in the World Trade Organization (WTO) to lower behind the border barriers that limit U.S. service
4、s exports. Role of Services in the Economy Rapid advances in information and communications technology (ICT) and the related growth of global value chains (GVCs) are making an expanding range of services tradable across national borders. Many services require direct contact between the supplier and
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