As President Trump takes aim at some of his key campaign promises, the discussions around the potential renegotiation of the North American Free Trade Agreement (NAFTA) have further emerged. From the president’s view, concerns persist about the nation’s propensity to import more goods that we export to a number of large economies – thus creating trade deficits.

On this subject, many economists have theorized that trade deficits are not a measure of what the United States owes another country, and that there can be numerous benefits to running them. However, in actuality, it would be worthwhile for the administration to address a different type of trade deficit that has long plagued American consumers and taxpayers.