CLAIM: Tim Walz claimed in the debate with J.D. Vance on Tuesday that the trade deficit under Donald Trump was the largest in history.
VERDICT: MISLEADING. The trade deficit in goods with China rose to its highest level ever in 2018 as Donald Trump leveled tariffs on China, as Chinese exporters rushed to send goods to the U.S. ahead of the tariffs. The following year, however, the trade deficit fell by 18 percent. It fell even further in 2020, although the disruptions in global trade due to the pandemic played role in that decline.
The trade deficit was higher in 2021 and 2022, the first two years of the Biden administration, than it was in 2019 or 2020.
