Alongside his promise of 25 million jobs, Trump has also said he can get America growing at 4% a year again. That would be almost double what Obama achieved. The U.S. hasn't seen consistent 4% economic growth since the tech boom of the late 1990s.
Of course they matter. Trade deficits arise when we import more than we export. Easy said. It's a tad bit more complicated. When we keep incurring these deficits, year after year, we use our domestic currency (the $) to pay for those imports. This results in our trade partners getting a considerable supply of those $.
BREAKING DOWN 'Deficit'. The term deficit is generally prefixed by another term to refer to a specific situation, a trade deficit or budget deficit, for example. A trade deficit exists when a nation has exports of $2 billion and imports of $3 billion in a given year.