President Donald Trump distorted some facts about trade in a press conference announcing an agreement to replace the North American Free Trade Agreement with the United States, Mexico, Canada Agreement, or USMCA.
President Donald Trump is saying that the U.S. balance of trade improved by a “tremendous” $52 billion in the second quarter of 2018. But the correct figure is much smaller — $22 billion — as two economists with expertise in trade statistics have confirmed for us.
In a campaign speech supporting the Republican candidate in a special House election in Pennsylvania’s 18th District, President Donald Trump made several false and misleading statements on a range of topics, from drug smuggling to the stock market.
President Donald Trump claimed the U.S. has “large trade deficits with Mexico and Canada,” which isn’t accurate. The U.S. actually runs a small trade surplus with Canada, and the deficit with Mexico isn’t all that large, relatively speaking.