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Despite promises, Trump’s trade deficits are only growing

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AXIOS:

Change in trade balance from 2016 to 2018 where the United States…

President Trump’s trade war has led to even bigger trade deficits with China, even though it was intended to improve the trade balance. But it’s not just China — the deficit has increased with most of our other major trade partners, too.

Why it matters: While economists agree that trade deficits aren’t a good way to measure a trade relationship, they are the metric Trump fixates on, made campaign promises about and uses to evaluate relationships with other countries.

Throughout his campaign, Trump vowed that he would wipe away the U.S.’s trade deficits: “You will see a drop [in the trade deficit] like you’ve never seen before.”

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