[brookst]

There is no “logic” that any two country pairs should have an equal trade balance.

“Belief” or “dogma” or even “idea” would work, but there’s no logic in that claim.

There’s not even a policy goal. If the intent is to convert the US from a net importer to neutral or even a net exporter, it means our cost of production needs to be about average. Which means our populace’s quality of life needs to be about average; wealthy countries are more expensive to produce in. Mix in the supposed interest in economic and social liberty, and you’ve got a country trying to destroy its own wealth in the name of controlling what its freedom-loving citizens buy

There is no logic here. It’s drunk monkeys all the way down.

[amluto]

Imagine the classical triangular trade. Three countries can have entirely balanced trade, yet each country has a 100% trade deficit with another country. Everyone benefits, and no one runs a trade deficit. Throw a huge tariff in and a country’s trade, imports and exports, will collapse.