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I read your links and now understand the certificates. I like that they are market driven. I still do not think they are needed to a fix a problem that is not a problem.

Trade deficits only exist, in our current example,  because labor in other countries is cheaper than here. When labor in other countries is no longer cheaper then the trade deficit will go away.

If we use certificates to drive up the price of imports or to drive down the price of exports the trade deficit will not exist but prices will still be higher and there will still be pressure to reduce our wages. Wokers in other countries will still work for less and that will still cause some sort of effect on the world economy. What that effect is I don't know right now but we will have simply traded one equalizing factor for another. The only difference is the situtaion has become more complicated. Complicated always translates into inefficiency which makes markets perform worse.