Supporting economic “patriotism” is now the working principle on both sides of the political divide in Washington. Robert Lighthizer, the former US trade representative under Donald Trump, is famous for getting rid of the US trade deficit. But recently, California Democratic Congressman Ro Khanna – a rising figure in progressive circles – called for the same, calling for the US to run a trade surplus with the rest of the world by 2035.

In Khanna’s words, “The trade deficit in some years is fine, when balanced by the trade surpluses in other years. But the country has been running a persistent trade deficit since 1975.”

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