The Trade Deficit Isn’t a Scorecard, and Cutting It Won’t ...

This piece of the Trump theory of trade is true. But when a country runs a trade deficit, as the United States does, there is a countervailing force. Think back to our pretend countries. BananaLand has a $1 million trade deficit with CarNation. But that means that car producers in CarNation are sitting on an extra $1 million a year in income. ................
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