US trade deficit hits record high in March
US imports pushed trade deficit to a record high, while American exports also reached a record level
Fox Business cited CEI’s expert on trade deficits
“Trump’s trade deficit fixation is a mistake,” said Competitive Enterprise Institute senior economist Ryan Young. “The U.S. last ran a trade surplus in 1975. In those 50 years, U.S. income has roughly doubled, and quality of life has improved by nearly every measure, from healthcare quality and life expectancy to the percentage of households with air conditioning, Internet access, and other essentials.”
“Trade deficits do not matter one way or the other for economic health. They neither hurt nor help,” he added.
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