Fact Check: Biden Falsely Claims He Eliminated The Trade Deficit

Claim: Biden said that the U.S. is exporting products instead of importing foreign products, implying the trade deficit had been erased or reduced during his presidency.

“And now instead of importing foreign products and exporting American jobs, we’re exporting American products and creating American jobs – right here in America where they belong!” Biden said during his State of the Union Address.The United States ran a goods and services trade deficit of nearly $779.8 billion last year. While that is down from last year’s record high $951.2 billion, it is higher than the trade deficit under any prior president.

The trade deficit in goods has also been higher in each year of Biden’s presidency than it was under previous presidents. While the balance of payments in goods improved last year, the goods deficit is still higher than it was before Biden took office.Daily Beast: Minnesota's 19% 'Uncommitted' Spells Trouble for BidenWatch: Biden Mispronounces Laken Riley's Name in State of the Union‘Follow the Money’: D.C.

Schumer: Reversing Trump Border Policies Didn’t Cause Problem, Dems Moved and GOP Said Let ‘So-Called Crisis Fester’VP Harris Won’t Say Whether She, Biden Will Participate in Debates‘I Have Been Removed ’: Trans Golfer Hailey Davidson Responds to Women’s Pro Tour‘Biden Needs to Do His Job’: Montana Attorney General Says Fentanyl Seizures Spiked 20,000 Percent

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