We cut China’s trade deficit in half — so why is ours at a record $1.24 trillion?

For years, Americans have been told the trade deficit is a harmless number, something economists argue about and everyone else ignores. The 2025 numbers make that comfortable story hard to hold up. The overall U.S. goods deficit hit a record 1.24 trillion dollars last year, the highest ever recorded. At the same time, the deficit […]

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