Coalition of Services Industries Core Objectives
The services sector is a vital part of the United States’ economy and the global marketplace. It is the engine of economic growth and a leader in innovative business practices, employing over 75 percent of the American workforce and exporting over $684 billion in private services in 2014. Services companies and their employees in all fifty U.S. states contribute to the United States’ services trade surplus of over $230 billion.
Services investment is also critical to the United States’ economy. In 2014, the United States’ outward services foreign direct investment (FDI) reached almost $4 trillion. While the United States has a comparative advantage in the services sector, there remain many barriers to services trade around the world.
The Coalition of Services Industries (CSI) strives to advance the following overarching goals in order to improve and strengthen international services trade:
The elimination of specific barriers to entry and to cross-border services is essential to helping U.S. services companies compete in foreign markets. Trade and investment negotiations need to ensure comprehensive market opening commitments and that Parties to trade agreements take as few exceptions as possible to those commitments, particularly with respect to new services.
Additionally, they should include substantive investor protections, including prohibitions on performance requirements, and nondiscrimination against foreign service suppliers. Trade and investment agreements also need to incorporate ratchet mechanisms to lock-in ongoing liberalization governments make in opening their services markets. Overall, trade negotiations should incorporate a negative list approach for all commitments made.