Final answer:
A trade deficit is a condition in international trade when the value of a nation's imports exceeds the value of its exports. It can occur due to various reasons and has economic implications. However, it is not inherently good or bad for a country.
Step-by-step explanation:
A condition in international trade when the value of the imports into a nation is greater than the value of its exports is known as a trade deficit. This means that a country, such as the United States, spends more on products from other countries than other countries spend on products from the United States.
Trade deficits can occur for various reasons, including a higher demand for foreign goods, a lack of competitiveness in domestic industries, or a currency depreciation. Trade deficits are often debated as they can have economic impacts, but they are not inherently bad or good. It is important for countries to monitor and manage their trade deficits to ensure long-term economic stability.