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Trump & gang's trade deficit delusions could be disastrous for all and sundry

They fail to understand what is quite a complex issue, and yet are proposing solutions to reduce the deficit that would only make it worse, hurting not only America but the rest of the world as well.

Since 1981, the US has run a trade deficit while Japan has run a trade surplus, yet the US economy has grown faster than Japan's, which has now endured more than two decades of stagnation.

IF THERE is a single number that US President Donald Trump is obsessed with (besides the number of people who attended his inauguration), it is the US trade deficit, which he sees as indicative of US economic weakness, motivating his push for protectionist trade policies.

In this, he is...

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