The US has trade deficits with everyone. The deficit with China is $295.4 billion. It’s 41 billion dollars with Canada. The trade deficit with the EU is $235.6 billion in 2024. The deficit with Ireland is $9 billion, and Vietnam is $111.6 billion.
Our total trade deficit is about $1 trillion.
Everyone is draining our resources while we are $36 trillion in debt with an unsustainable debt service. We are the world’s saps.
President Trump said the US has a $350 billion deficit with Mexico, and he won’t let it happen.
PRESIDENT TRUMP on tariffs: “We have a deficit with Mexico of $350 billion! I’m not going to do that. I’m not going to let that happen.” pic.twitter.com/OXLkqWV2e1
— Rapid Response 47 (@RapidResponse47) February 9, 2025
Donald Trump shared a Truth Social post from Scott Adams. It revealed the truth about tariffs.
The White House Explains
Administrations failed to fully leverage America’s economic position as a tool to secure our borders against illegal migration and combat the scourge of fentanyl, preferring to let problems fester.
- Access to the American market is a privilege. The United States has one of the most open economies in the world and the lowest average tariff rates in the world.
- While trade accounts for 67% of Canada’s GDP, 73% of Mexico’s GDP, and 37% of China’s GDP, it accounts for only 24% of U.S. GDP. However, in 2023 the U.S. trade deficit in goods was the world’s largest at over $1 trillion.
- Tariffs are a powerful, proven source of leverage for protecting the national interest. President Trump is using the tools at hand and taking decisive action that puts Americans’ safety and our national security first.
- Though previous Administrations have failed to leverage America’s combination of exceptional strength and its unique role in world trade to advance the security interests of the American people, President Trump has not.
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