ABSTRACT
The minimal focus on services trade and its contribution to overall trade balance spills over into the practices designed to help businesses to compete globally. International trade educational efforts organized by state and local government agencies for the business community for example, predominantly emphasize trade in goods. Practical policy discussions about the impact of international trade on domestic firms, workers, and consumers, at least in the United States, have tended to focus mostly on the manufacturing sector. In 2016, the US trade deficit was the focus of the US presidential campaign. What did not dominate the airwaves and social media was that the trade deficit was the result of greater imports of goods than exports. Oftentimes service was left out of the discussions on international trade because of the fact that it is an intangible commodity. The chapter also presents an overview of the key concepts discussed in this book.
