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 $.
BALANCE OF TRADE. The balance of trade of a nation is the difference between values of its exports and imports. When exports are greater than imports, the nation is said to have a balance of trade surplus. On the other hand, if imports are greater than exports, the nation is said to have a balance of trade deficit. Exports and imports that figure in the balance of trade concept arise in the context of trade with other countries.