Trade deficits are ALWAYS an immediate detriment to their nation’s GDPs, numbers of jobs and their median wages.
I know that we’re swimming against the current but I’m among those contending due to annual trade deficits their nation’s GDPs are immediately less than otherwise. Those changes of GDPs are reflections of changes that occurred to the nation’s numbers of jobs and median wage. (The purchasing powers of nation’s median wages are prime indicators of middle income earners’ living standards).
[ If the trade deficit is due to the importing production supporting products, it could immediately or in time compensate for trade deficit’s detriment. That compensation could be a partial regain or a net gain of GDP. (That’s not USA’s case)].
For explanations google “ wikipedia, balance of trade “ and read the paragraphs
entitled “Trade Balances' affects upon their nation’s GDP”.
I’m a proponent of a specific remedy based upon Warren Buffet’s concept of transferable Import Certificates.
Google “wikipedia, import certificates “.
Respectfully, Supposn
