Commentary: Actually, trade deficits are a win
President Donald Trump is turning up the heat on his trade war. On Friday the president threatened to slap 20 percent tariffs on European cars; tariffs on $34 billion of imports from China are set to take effect next week. All this stems from Trump's obsession with eradicating the U.S. trade deficit. By Trump's reasoning, any country with a trade deficit is a "loser" in the global economic system and suffers from job losses, capital flight and economic
