The trade deficit isn’t an emergency. It’s a sign of America’s strength

When U.S. President Donald Trump imposed sweeping new tariffs on imported goods on April 2, 2025—upending global trade and sending markets into a tailspin—he presented the move as a response to a crisis. In an executive order released the same day, the White House said the move was necessary to address “the national emergency posed by the large and persistent trade deficit.”

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