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.
Key Points
- The U.S. still has a significant trade deficit under Biden
- The trade deficit has not been reduced during Biden's presidency
- The three largest trade deficits ever have occurred in each year of President Biden’s presidency
Cons
- Biden's claim is false and misleading