Greg Ip's Understanding of Trade Deficits is Fundamentally Flawed

Here's a letter to the Wall Street Journal: Greg Ip writes that The U.S. runs a trade deficit because it consumes more than it produces while its trading partners, collectively, do the opposite (How the Tax Cut President Trump Loves Will Deepen Trade Deficits He Hates, April 19). Not so.  A U.S. trade deficit does not […]