Many on both the left and the right fret about trade balances, and much of the concern about debt is performative. A glance at a graph of public debt in the USA

Many on both the left and the right fret about trade balances, and much of the concern about debt is performative. A glance at a graph of public debt in the USA alongside presidential terms is illuminating. Of course there is protectionism and there are subsidies in the modern economic landscape. All the political parties in every country have their special interests and exceptions. Globalisation is the general trend towards reducing and eventually eliminating these through institutions like the WTO and treaties or associations such as NAFTA/USMCA and the European Union.