Hoyer Statement on Record Trade Deficit
"Today's announcement that the merchandise trade deficit for 2018 topped $891 billion shows that the President has flunked the test he set for himself. During the campaign Donald Trump claimed that large trade deficits represented failed leadership and flawed trade policies. Now, after two years in office, President Trump's economic policies have produced the largest trade deficit in American history -- by a wide margin. It is time for President Trump to acknowledge that his scattershot approach to trade policy is failing and explain how he intends to change course and reverse these record deficits."
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