I have a big trade deficit with the supermarket. My employer has a big trade deficit with me. Neither is a problem. I know the president is beyond convincing. But hopefully you understand that the US having a trade deficit with another country isn't inherently a problem.
Can't know for certain, of course. But yes, I think he truly doesn't understand this. He says it so often, and with such passion. I think he's convinced. Basically neo-mercantilism (but more instinctual than intellectual).