what does that even mean? Are you saying trade deficits don’t exist? Nor surpluses?
Yes.
What are described as trade deficits are imbalances in the accounts of individuals and businesses. That is individual Americans and companies buy more from a specific country than other individuals sell to that nation to create what is politically termed as a trade deficit.
These trade imbalances are not sovereign. That is the imbalance does not occur when one government buys more than it sells.