(Leslie Shaffer – CNBC)
The Trump administration has made trade deficits the yardstick for measuring the success of trade deals, but that’s a miscalculation, analysts said.
President Donald Trump has applied labels such as a “disaster” and “horrible” to various U.S. trade deals, including the North American Free Trade Agreement, or NAFTA, and the South Korea-U.S. free trade agreement, known as KORUS.
Trump says what proves those deals are so horrible is that the U.S. has trade deficits, meaning it imports more from some trade partners than it exports to those nations.
“The United States has trade deficits with many, many countries, and we cannot allow that to continue,” Trump said in June in a meeting with South Korean President Moon Jae-in. Click here to read more.