Under Biden's administration, the trade deficit with China continued to decrease, reaching its lowest level since 2010. By 2023, the deficit had dropped to around $279 billion.

"The U.S. has run a trade deficit every year since the 1970s, yet living standards are better by almost every measure, whether it's income, unemployment rate, life expectancy, percentage of low ...

All in all, the trade deficit shrank a little from the previous month. But that gap between imports and exports is just about the widest it’s ever been. President Donald Trump has demonized the ...