https://www.silvercrestgroup.com/do-the-budget-and-trade-def...

> Government budget deficits are part of national savings. When Washington runs a larger budget deficit, national savings goes down. In a closed economy, interest rates must go up until households save more (and consume less) and fill that gap. In an open economy, the needed savings can come from abroad instead, and as a result we end up running a larger trade deficit.

This would suggest that if we eliminate free trade, inflation will force us to manage our budget deficits.

Only if you cancel foreign investment, which absolutely nobody is talking about. That is a closed economy.

Nothing about trade stops you from selling your home and factory and national parks to China so that you can enjoy treats today.