Despite trump promising to shrink the trade deficit, it's the highest level in 10 years.  The real goods deficit in December reached $91.6 billion, its highest level since 1994.  It's being driven in part, by weakening exports.  Nominal goods exports to China tanked by 33%, likely a result of China's retaliatory tariffs on U.S. goods.  The American Enterprise Inst. calculates the tax cuts could boost the trade deficit by $200 billion.  This is what trump winning looks like.