Yes, Trade Deficits Are Hurting American Manufacturing
IndustryWeek | August 23, 2018
A trade deficit occurs when a country imports more goods and services than it exports. The macroeconomic explanations are often convoluted and do not make sense to the average voter.
A typical example of a nebulous explanation is: A trade deficit arises as a result of several factors, including overall domestic economic conditions and standards of living; domestic consumption and purchasing compared with savings rates; and the price of goods in the market, which is, in turn, affected by exchange rates, domestic structural issues (e.g., taxation regulation) and openness to international trade.