You're making the assumption that public education would disappear without the federal government's involvement. That is certainly not the case. Education existed before the Department of Education and it would exist after. State and local communities would provide education as it should be. It is not the place of the federal government to be involved. Again I ask for any direct reference in the Constitution to provide education. And again I point out that any power not granted to the federal government is the right of the people or the States.
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The trade imbalance is the US buying more goods from others. If all sides lose 10% of their trade then they lose more that we do. Not only in actual dollars (or whatever currency you want to use) but also as a percent of their GDP since the US GDP is so much larger than theirs.