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Reason
Reason
Eric Boehm

Trump Said Tariffs Would Reduce the Trade Deficit. Instead, It Hit a Record High in 2025.

Donald Trump Deficit America

As he announced a broad set of new tariffs targeting imports from around the world, President Donald Trump declared his intention to reduce America's trade deficit.

"Chronic trade deficits are no longer merely an economic problem," Trump said in April during a speech from the White House's Rose Garden. "They're a national emergency that threatens our security and our very way of life."

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