The arguments being put forward on trade now are comical. In just about every other context large debt is seen as bad and unsustainable. Certainly, I agree there is a point it becomes too much, though I do not think itors easy to clearly define what that level is. But it is very clear to me that conservatives and those that think government can do NO good, always think that level is lower than it is likely to be. Now these same people argue a trade deficit is accompanied bb offsetting nvestment surplus: all is good with the world, let trade continue exactly as is, it's fine because it balances. But investment is just another word for debt. A massive trade imbalance means you are borrowing, becoming indebted to finance consumption. And yes the numbers balance, but that is simply accounting, not a measure of a healthy economy. The books of failing companies balance in a similar way because accounting is always supposed to balance  by definition, not because things are good or bad.