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:

U.S. President Donald Trump announced on Wednesday that the deadline for reciprocal tariffs for trade partners will not be extended past Friday, August 1. Trump's statement, released with emphasis on his social media platform,