Here’s how deficit-inducing tax cuts lead to trade deficits
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The U.S. trade deficit in July surged to a five-month high, $50.1 billion, as exports of products like soybeans and civilian aircraft fell, while imports reached record levels. President Donald Trump regularly complains about trade deficits, but his own spending policies tend to undermine the goal of lowering the trade gap. One part of the government is putting on the brakes, while the other is stepping on the gas.
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