It would be a gross understatement to say that President Trump has failed in delivering on his campaign promise to close the U.S. trade deficit with a view to promoting manufacturing jobs at home.
Indeed, under his watch, not only has the U.S. trade deficit steadily widened over the past two years. It has now reached an all-time high, running at an annual rate of close to a staggering $1 trillion.
Sadly, with his administration's budget and trade policies, there is every prospect that the trade deficit will continue to widen during the remainder of his first term in office.
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