The Study of US Trade Deficit reveals the causes of US trade deficit from such perspectives as the US trade balance evolution,and the structural,supportive and policy factors of US trade deficit.It based on the global value chain,intra-product division of labor,dollarization and so on,reveals the relationship between the US trade deficit and the inflation rate,employment rate,international competitiveness and trade interests,further exploring their macro and micro basis of US huge trade deficit having existed for a long time.Meanwhile,combined with the evolutionrelationship among global industrial transfer,dollarization,virtual economy and real economy,this study comprehensively analyzes the sustainability of US trade deficit,probes into the cost of adjusting US trade deficit,and on this basis puts forward an idea of adjusting its objectives and and thinking.