US President Trump has stated that tariffs on imports from Europe to the US will be announced “very soon,” claiming that Europe “takes almost nothing from us, and we take everything from them.” I believe it is important to clarify some basic facts. International trade involves both goods and services, yet Trump refers only to goods. If one were to consider only services, Europeans could just as easily argue that “the US takes almost nothing from us (Europe), and we take almost every...
