How will a trade deal with China make a dent in the ballooning deficit the U.S. has with the rest of the world, led of course by the world’s No. 2 economy across the Pacific Ocean?
Even if China promised to double its exports of U.S. agricultural commodities that would just cut $30 billion in a yawning $419 billion trade gap. It’s not even a 10% dent! China is basically importing U.S. raw materials, adding value to those raw materials and selling them back to the U.S. Who and what is going to change that?
Maybe the U.S. can sell product elsewhere to lower its overall trade deficit?
Oh, wait, Europe’s economy is shrinking, and few see the richest countries in the world growing over 2% anytime soon. By the way, we have a deficit with Europe.
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