No, the U.S. doesn’t have a $1 trillion trade deficit with China. What Trump got wrong. - MarketWatch
1. Trump claims U.S. runs $1 trillion trade deficit with China; it's $263 billion. 2. U.S. trade deficit in 2024 totals $918 billion, down from $944 billion in 2022. 3. Tariffs imposed on China remain, affecting stock market value significantly. 4. Manufacturing jobs fell by 20% from 2000 to 2007, impacting U.S. employment. 5. Experts cite transshipping of Chinese goods, but extent remains unclear.