Despite U.S. President Donald Trump’s efforts to tame U.S. trade deficit, the number spiked last year. The deficit in goods grew 10% year on year to 891 billion U.S. dollars, the highest in record according to data released by the U.S. Department of Commerce last Wednesday. Why has the U.S.’s trade deficit surged so much? Is Trump’s strategy backfiring? And is a trade deficit really such a bad thing for the domestic economy?
Panelists: John Gong, Professor of Economics at the University of International Business and Economics; David Mahon, Managing Director at Mahon China Investment Management LTD.