Behind Trump’s Trade Deficit Obsession: Deficient Analysis

Peter Goodman: “In the world according to President Trump, trade deficits are among the clearest indication that Americans have become habitual chumps in the global marketplace. The United States sells fewer goods and services than it buys from the rest of the planet, and this is supposedly evidence that Americans are getting rolled.”

“But Mr. Trump’s portrayal of trade deficits entails crucial departures from economic reality.”

“Trade is not zero-sum. Expanded trade has historically tended to support economic growth, which generates more spoils to be divvied up for all.”

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