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Are Trade Deficits Good or Bad for the US? GOBankingRates 5/4/2021 © Bill Oxford / iStock.com ee money-and-flag-picture-id175399977 A trade deficit occurs when a country imports more than it exports and that’s a good thing for a national economy. Or a terrible thing. Or it might not matter one way or the other. Trade deficits are so complex that economists can’t even agree on if they’re helpful or harmful. But if deficits are as terrible as some would have you believe, America is in deep trouble. The richest country in the world has run a trade deficit every single year since 1976.

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