The reckless malevolence of the political class.

People intend the natural consequences of their acts.

The burgeoning trade deficits are not the result of bad trade deals or ineffective tariff policies. They are the result of a deteriorating U.S. economy which is no longer one of production, but of consumption and debt. A growing economy creates trade surpluses not deficits; it produces more than it consumes.

Because of decades of anti-capitalistic economic legislation – confiscatory taxation, regulatory burdens, inflationary monetary policy, “crowding out” budget deficits, unemployment subsidies, minimum wage laws, and an overemphasis by the establishment on higher education – the U.S. is no longer an industrial power and not a conducive environment for economic growth.^[1]

Not to mention the catastrophe of off-shoring to chase subsistence wages, lax environmental laws, and artificially reduced exchange rates.

Notes
^[1] "Who Cares About The (Record) Trade Deficit? We All Should..." By Schiff Gold, 3/9/22 (emphasis removed).