The Era of American Complacency on Trade Is Over

President Trump arrived at the Group of 7 summit meeting in Canada on Friday amid an expression of “concern and disappointment” from the six other nations' finance ministers over United States trade policies. Conspicuously absent has been any acknowledgment by these ministers of the trade practices that contribute to America's more than $500 billionannual global trade deficit in goods and services.

Consider Germany, with which the United States had a trade deficit in goods of about $64 billion in 2017. While the United States tariff on cars made in Germany and elsewhere in the European Union is 2.5 percent, the European Union tariff is four times as high, at 10 percent. No wonder Germany sells us three cars for every one we export to Germany.