Since 1985, the first year for which the Census Bureau has posted this nation's bilateral merchandise trade deficits on its website, the United States has accumulated $5.5 trillion in trade deficits with China. No other nation comes close. In 2019, America's seven top trading partners -- when measured by the total dollar value of the bilateral trade in goods -- were Mexico ($614.5 billion), Canada ($612.4 billion), China ($558.9 billion), Japan ($218.3 billion), Germany ($187.8 billion), South Korea ($134.4 billion) and the United Kingdom ($132.3 billion). By far, however, the least balanced relationship -- both last year and in recent...