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Digital Trade and U.S. Trade Policy

Digital Trade and Trade Policy Updated December 9, 2021 Congressional Research Service R44565 Congressional Research Service SUMMARY Digital Trade and Trade Policy As the global internet expands and evolves, Digital Trade has become prominent on the global Trade and economic Policy agenda. According to the Department of Commerce, the Digital economy accounted for of gross domestic product (GDP) in 2019 and supported million jobs, or of total employment in 2019. From 2005 to 2019, real value added for the Digital economy grew at an average annual rate of per year, outpacing the growth in the overall economy each year. Digital Trade has been growing faster than traditional Trade in goods and services, with the pandemic further spurring its expansion.

Businesses use advanced technology to reach new markets, track global supply chains, analyze big data, and create new products and services. New technologies facilitate economic ... (GDP) in 2019, including (1) the information and communications technologies (ICT) sector and underlying infrastructure, (2) business-to-business and business-to ...

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