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Phillip Seeberg's avatar

Glad I read to the end. I liked the portrait of St. Upid.

Joanie Wimmer's avatar

President Trump apparently believes that if we have a trade deficit with another country, that means that the other country is “ripping us off.” This belief has no basis in reality. We import lots of vanilla, and nickel and other minerals from Madagascar, i.e., we give them dollars in exchange for vanilla, nickel, and other minerals. Madagascar is a poor country which doesn’t spend a lot of its money on products or services made in the United States. According to Trump, this means that Madagascar is “ripping us off.” So Trump scheduled a 47% tariff on products imported from Madagascar. This will make companies and people in the United States pay more for vanilla and nickel and other minerals from Madagascar. And this will help us how? This will make us rich how?

Generally, a system of free trade and capitalism promotes competition and lower prices, and creates the most wealth. What happens to the wealth once it is created is a separate issue. But imposing tariffs, limiting free trade, makes things less efficient and makes products and services more expensive, reducing the standard of living.

https://www.axios.com/2025/04/03/tariffs-trade-war-vanilla

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