Where’s the Valium? Mass quantities may be needed to calm the apparent media panic over Wednesday’s Commerce Department report that the U.S. trade deficit hit a record last year. Everyone can calm down, and President Trump can take a bow that his tax reform and deregulation are working as intended. “In a Blow to Trump, America’s Trade Deficit Hit a Record $891 Billion in 2018—the highest it’s ever been,” read a summary in one newspaper that seems to want Mr. Trump to blow up at the news. The trade deficit grew 12% last year...

Source: Wall Street Journal March 07, 2019 00:11 UTC