You don't want the tongue higher at the hitch end. With the trailer loaded and riding at speed, any hard braking will cause a forward enertia forcing the tongue to "push up", taking weight off the back wheel. This could cause the rear wheel to skid, especially on wet roads.
I would look for a way to make the tongue even, or better yet, running slightly downward to the hitch.
I have pulled about 7000 miles with a Harbor Freight trailer... so far, so good. YMMV