Remember last year when President Donald Trump started the trade war with China? Experts said the tariffs would explode the trade deficit, but Trump promised the tariff would actually bring down the trade deficit.
Last week, the Commerce Department said that the nation’s trade deficit is at a record high, in part due to punitive tariffs imposed by Trump. But it's not just trade.
The Budget Department recently announced that the deficit had hit $310 billion, a 77 percent increase from last year.