Are trade deficits bad for an economy?

President Donald Trump was back on the topic of trade today. Taking questions at the White House, he said that the United States “has been taken advantage of” on trade. And he doubled down on his promise to impose tariffs on steel and aluminum imports. They are needed, he said, because of trade deficits. But that term may not mean what the president thinks it means.

Click the audio player above to hear the full story.