Donald Trump has long made the trade deficit a cornerstone of his economic rhetoric, particularly the bilateral deficit in goods with partners such as the European Union.
This obsession is not new, but it remains a politically potent narrative in the United States.
Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.
Already a member? LoginJudith Arnal is a Spanish economist with the Real Instituto Elcano think-tank and the Centre for European Policy Studies.
Judith Arnal is a Spanish economist with the Real Instituto Elcano think-tank and the Centre for European Policy Studies.