Sri Lanka, April 20 -- Trade President Trump unilaterally imposed tariffs on much of the world based on a flawed interpretation of merchandise trade deficits, said CEO of JB Securities (Pvt) Ltd. Murtaza Jafferjee.

He said Trump has focused narrowly on the U.S. trade deficit in goods, ignoring the broader and more accurate measure that includes services. In reality, the U.S. deficit in goods and services is significantly smaller than the numbers Trump cites.

Crucially, the U.S. runs a massive surplus in digital services - advertising, cloud computing, software, and financial services - where it remains the global leader. Although the U.S. accounts for only 4.5% of the global population, it contributes 26% of global GDP and a staggering ...