ColumnistIf nothing else, the latest U.S. trade deficit — $621 billion in 2018 for goods and services — should give President Trump a lesson in the economics of trade. If that were true, then the rising trade deficit would have caused a sharp decline in jobs and, possibly, even triggered a recession. How can employment grow when the trade deficit is rising? It’s also worth recalling that the benefits of trade extend beyond jobs; imports mute price increases, provide more consumer choice and promote competition. But if ending U.S. trade deficits is the main objective, this becomes virtually impossible, because deficits exist with so many other countries.

Source: Washington Post March 10, 2019 22:30 UTC