Episode 56: Tariffs Hurt Everyone, So Why Have Them?
Words & Numbers
00:00
The Trade Deficit Doesn't Matter
The term trade deficit gets people's attention because you hear the term deficit and you think, Oh my God, this is something that's bad. Two reasons why a trade deficit really doesn't matter. The first has to do with how we describe it: We say things like we have a trade deficit with China. But in total Americans spend more for foreign goods than foreigners spend for American goods. All that money comes back in the form of US securities.
Transcript
Play full episode
