If we look in national debt of the United States, compared with other countries, USA have Nr. 1 position with 19.907 USD billions national debt. See link here -
http://www.usdebtclock.org/world-debt-clock.html. What can do Trump with this ? Shortly - nothing, it is largest country debt in the world.
More important question is who is the owner of this national debt?
China, of course.
So, in a way, China have great way how to control America.
Until now, America could manage this big debt.
After all, if needed, they can simple print more money

In the long term, it's very difficult to say what will happen with this debt.