U.S.-China Trade Deficit

Former President Donald Trump falsely claimed that the U.S.-China trade deficit was over a trillion dollars, when in reality it was about $252 billion in 2023, the lowest in 14 years. Many economists do not believe trade deficits are necessarily bad.

President Joe Biden's State of the Union Address

Breitbart Economics Editor John Carney criticized President Joe Biden's State of the Union claim of eliminating the trade deficit as false, stating that the deficit has actually worsened under Biden's presidency.

Biden's False Claim on Trade Deficit

Biden falsely claimed during his State of the Union Address that the U.S. is exporting products instead of importing foreign products, implying the trade deficit had been reduced. In reality, the U.S. still ran a goods and services trade deficit of nearly $779.8 billion last year, higher than under any prior president.