It's actually better to have a trade deficit. Let's say you are a king living in a castle. If you are importing grain from all the surrounding land, the peasants are doing all the hard labor. You have a trade deficit with the peasants and pay them with pieces of paper and goodwill (i.e. dollars). You get to enjoy your life in the castle and read books or whatever else you do in your spare time.
Yes and even better if your pieces of paper are what the peasants use to trade with one another. That means you can make more paper money and it keeps value because it's in demand beyond your own trade needs.
