This article helps clarify important terminology about trade. A “surplus” isn’t necessarily good and a “deficit” isn’t necessarily bad. Talking about trade that way is simplistic. In fact, trade deficits are historically a sign of a stronger economy.

If the goods and services available to the American people are greater as a result of international trade, then Americans are wealthier, not poorer, regardless of whether there is a “deficit” or “surplus” in the international balance of trade.

– Thomas Sowell, 2015. Basic Economics, 5th Edition, p. 476-477