Does the Trade Deficit Matter?

What exactly is the trade deficit - and should you be worried about it? Does it really mean America is “losing” in global trade, or is the scoreboard misleading us? Read more about the trade deficit here: https://fee.org/articles/a-deficit-of-understanding https://fee.org/articles/milton-friedman-the-way-we-talk-about-trade-confuses-the-issue Visit FEE.org and our Substack: https://substack.com/@thefreemanmag for more! Sources: https://www.cfr.org/backgrounder/us-trade-deficit-how-much-does-it-matter https://www.hoover.org/research/clearing-air-tariffs-and-trade-deficits https://www.cato.org/blog/bad-solutions-non-problem https://www.cato.org/blog/ignore-politicians-trade-deficits-dont-really-matter https://www.cato.org/trade-policy-analysis/americas-maligned-misunderstood-trade-deficit https://www.stlouisfed.org/on-the-economy/2019/may/historical-u-s-trade-deficits https://www.industryweek.com/the-economy/trade/article/22007274/do-trade-deficits-matter https://www.cato.org/commentary/remember-when-japan-was-going-take-over-world