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Border so in theory there s a trade deficit in goods of $17.5 billion. that would be interesting if america and canada were primarily manufacturing industries, but they re not. we do a lot in services. in 2017, we exported 58.7 billion of services, imported $32.8 for a $25.9 billion trade surplus with canada. you add up that trade deficit and that trade surplus and you have a $17 you have $8.4 billion trade surplus. so that s the important part. it is not a trade deficit as donald trump continues to claim. joining us now to take a closer look is mary scott greenwood, the ce oco of the canadian amern business council. putting aside the nonsense about a trade deficit with canada, it s pretty hearty trade on both sides. these are valuable trade relationships that go back decades between these two ....
Think finance, media, technology. the u.s. services trade surplus with canada was $25.9 billion in 2017. wolf? all right, christine, thanks very much. christine romans with that. let s bring in new jersey senator bob menendez, the ranking member of the senate foreign relations committee. thank you for joining us. good to be with you, wolf. what s your response to the president dragging during the closed door fund raiser in st. louis to republican big shots about not knowing trade facts and admitting lying to the canadian prime minister justin trudeau. well, it s pretty outrageous that you conduct yourself with one of your key allies in the world in a way in which you lie to them boldface and they know that you re lying because they know what the trade realities are and it undermines credibility not just with the canadians but globally when stories like this come out that ....
Toys and food and gift baskets. people feel safer going into the stores. we haven t had one of those credit card breaches. they re chipping their cards instead of swiping, so they feel safer with that. you re absolutely right, we haven t heard those stories recently. how about in the cards. people will be using those gift cards for discounted merchandise, right? oh, absolutely. i ve gotten a few, and people during the holiday season give gift cards to the tune of $25.9 billion. that s from the national retail federation. so if you can imagine, that is a massive amount of gift cards, and people are going to the stores, taking advantage of some of those discounts, but also people can do an exchange of those gift cards. they can also go in and even go to web sites where they can get the value of that same card that they got as a present. but i have to caveat it, alex. if you go to those sites where ....
Likely a proposal to extract an extra $25.9 billion from air travelers over the next 10 years. eight billion of that would go to take care of security. 18 billion would go towards deficit reduction. but airline travelers who take the hit, bill. bill: didn t see that one coming. the president wants to extend unemployment benefits. is that a deal-maker or a deal-breaker? it could be a deal-breaker depending how hard the president pushes and how hard democrats push for it in the senate and in the house. at the moment, come january, 1.3 million people who are receiving unemployment benefits now will be cut off. the president wants to keep those unemployment benefits going. republicans do not want that to happen. it s a standoff. whether that become as deal-breaker remains to be seen. as to how far the president will push this point of view. there will be handshake deal today. bill: we ll see what come after ....