That was dropped and the latest tax policies seem to abandon much of the strong mechanism for reducing trade deficits with policies that increase the fiscal deficit and thus capital account surplus. (carnegieendowment.org)
Also, the overall trade deficit in Q2 was revised to be much smaller compared to Q1, which may lead to a possible upward revision for Q2 GDP growth. (babypips.com)
Larger budget deficits would mean larger trade deficits with the attendant costs and less space for government to respond to the next recession. (larrysummers.com)