Fact check: Biden says U.S. trade deficit at 'all-time high' under Trump
The trade deficit in goods was higher under Trump in 2018 and 2019 than during any previous year, though that was not the case in 2017. However, this ignores the substantial trade surplus in services. When services are factored in, the overall trade deficit was larger in five separate years during George W. Bush's administration than it has been under Trump.
Louis Jacobson, PolitiFact reporter