They claim that the country’s overall trade deficit — the sum of the U.S. trade balance with all countries — represents economic weakness and a national-security threat. But what can bilateral trade deficits and the country’s overall trade deficit tell us about trading relations and the health of the U.S. economy? Here are some facts:

But his tariffs threaten to tarnish it. Commerce Secretary Howard Lutnick declared on Tuesday that everything is hunky-dory with President Donald Trump’s Friday tariff deadline. “August 1 is the date that we’re setting all these rates,