Since trade is conducted largely in USD, that means other governments must purchase USD to trade. This is the core of trade deficits. Foreign countries buy US dollars so they can trade with other people. That guarantees the deficit since they give us something in exchange for USD, which they do not then spend on goods we make.
If you no longer want the trade deficit that means payments of fealty by those who trade in dollars, which countries aren't likely to tolerate, or abandoning the USD as a global reserve currency, which would be disastrous, truly disastrous. Our debts would suddenly become existential because inflating our currency to pay for them could result in functionally not being able to import goods required to run our economy. I don't think many truly understand just how disastrous it will be.
This isn't America's liberation day. This is Russia's and China's liberation day. While America was once able to check their power, America is no longer in a position to do so, we will barely be in a position to satisfy our own military's logistics requirements.
This is a decapitation strike (Timothy Snyder: Decapitation Strike -- https://archive.is/1xkxK) on America by our enemies. It is not only a de facto soft blockade of American trade, but it is an attack on the mechanics of American hegemony. Politicians already ask for money instead of votes or actions. That means if foreign governments spend money, they can elect their preferred candidates. America's own government was a result of french support. We institute regime change in other counties, and I see no reason to believe we are immune.
If trade stops occurring in US Dollar, which is a consequence of the stated goal of our current ruling regime, that would be the coup de grace on this country's hegemony. It is the definitive end to it, and the birth of Chinese hegemony.
Ray Dalio's Principles for Dealing with the Changing World Order feels prescient: https://www.youtube.com/watch?v=xguam0TKMw8