Why May 2026 Trade Data Hides a Services Deficit

The April trade deficit narrowed to $55.9 billion, but Lucas and Luna argue that the headline number masks a growing imbalance in services trade. They drill into a specific example: the $1.15 euro exchange rate is boosting European demand for US consulting and software exports, but US imports of foreign cloud and streaming services are rising even faster. The hosts explain why services data lags goods data by months, and why the May CPI print of 4.2% percent could reshape trade negotiations. A focused look at what the trade balance misses. #TradeDeficit #ServicesDeficit #USExports #Imports #EuroDollar #CPI #Inflation #TradeData #BalanceOfPayments #CloudServices #Streaming #FexingoBusiness #BusinessPodcast #Economics #TradePolicy #DollarIndex #MayCPI #TradeNegotiations Keep every episode free: buymeacoffee.com/fexingo