The People's Forum: Seems you don't understand how any of this works.

There is no "subsidising". Trade deficit is caused by US consumers wanting stuff made in other countries. So it's a bit like you having a trade deficit to your grocery store. I mean, when ever have they bought something from you? Why is this not a huge problem?

What will quite probably happen is that there will be a trade war everyone loses and investments from Europe to American companies decrease. Europe is by far the biggest external investors in US companies, IIRC something like 70-80% of all investments comes from Europe.

And trade deficits vary between countries. It's a funny idea that every country would have a trade deficit. Exactly how would this work? Tariffs are often used to protect national interests. For instance Volkswagen has struggled to produce cheap EVs and they are a major influence in Germany, and by extension EU. So, surprise surprise, EU set tariffs on Chinese EVs. This is clearly not good for EV buyers, just European EV manufacturers.

USA is also in a unique position in the world in that dollar is by far the most important currency in the world. This gives it a lot of leverage regarding those deficits. USA might own China trillions but it would be quite tricky to collect them.

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have huge trade deficits with each other? Do they charge tarriffs to each other? These are questions by the way, not arguments.

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For the citizens of all countries concerned.

I wouldn’t foresee home grown growth in manufacturing for years if at all.

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understanding any of it, I had a look for some clarity. I have no idea if this is pertinent but I'm sure I'll soon find out:

The United States is the 2nd largest goods exporter in the world, behind only China. U.S. goods exports to the world totaled $2.1 trillion in 2022, up 17.5 percent ($307.3 billion) from 2021. Canada was the largest purchaser of U.S. goods exports in 2022, accounting for 17.3 percent of total U.S. goods exports. The top five purchasers of U.S. goods exports in 2022 were: Canada ($356.5 billion), Mexico ($324.3 billion), China ($150.4 billion), Japan ($80.2 billion), and the United Kingdom ($76.2 billion). U.S. goods exports to the European Union 27 were $350.8 billion.

Goods Imports
The United States is the largest goods importer in the world. U.S. goods imports from the world totaled $3.2 trillion in 2022, up 14.6 percent ($413.7 billion) from 2021. China was the top supplier of goods to the United States, accounting for 16.5 percent of total goods imports. The top five suppliers of U.S. goods imports in 2022 were: China ($536.3 billion), Mexico ($454.8 billion), Canada ($436.6 billion), Japan ($148.1 billion), and Germany ($146.6 billion). U.S. goods imports from the European Union 27 were $553.3 billion.