Trump promised to rebalance trade in North America. The US trade deficit keeps climbing.


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Trump’s failure to reverse those deficits, despite successfully renegotiating the country’s biggest trade deal and slapping billions of dollars worth of tariffs on a range of other foreign trading partners, only adds to the doubts about his aggressive second-term plans to hike tariffs even further to flip America’s trade balance. The former president’s campaign advisers say that if he returns to the White House in 2025, Trump would consider raising duties on all imports coming into the country, while slashing business taxes beyond the cuts he made in 2017 — steps he and his advisers argue will help rebuild U.S....