Any objective analysis of America’s economic history discredits the notion that the trade balance has a defined relationship with economic growth and job creation. Using trade deficits—whether in the aggregate or with individual countries—to argue that the U.S. suffers from unfair trade practices discredits those claims and diverts attention from real problems: trade agreements that are outdated or that lack enforcement, especially with China. President Trump has performed a service by reminding America of the suffering in...

Source: Wall Street Journal March 23, 2018 22:41 UTC