While the White House is waging a trade war on behalf of US manufacturing, the largest and most important part of the US economy, one that has a trade surplus, not a gap, is under threat.

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Ford Motor Co. displays its Bronco Sport Sasquatch SUV before media day of the 2025 Detroit Auto Show at Huntington Place in Detroit, Michigan, U.S. January 9, 2025. REUTERS/Rebecca Cook/File ...