Fairness is not a satisfactory basis for managing international trade.
The Chinese simply have lower costs than the US. Our landlords and drug companies will not cut rents & prices in half even if Trump begs them to.
Substantial and sustainable fiscal balance must be the primary basis for managing international trade.
We are in Greek territory when it comes to national debt.
We can not continue to run large trade deficits financed by large budget deficits.
“In 2016, the total U.S. trade deficit was $502 billion.”
https://www.bing.com/search?q=trade+deficit+2017&form=HPNTDF&pc=EUPP_HPNTDF&src=IE-SearchBox
“CBO estimates that that the federal budget deficit in 2016 will be $544 billion.”
https://www.bing.com/search?q=budget+deficit+2016&form=HPNTDF&pc=EUPP_HPNTDF&src=IE-SearchBox
I like the "growth" approach, better.
Keeps the theoreticians out of your hair.