At first, Erik Ackerman, a farmer in North Dakota, was frightened by President Trump’s tariffs on China. After all, 75% of his corps go to the Chinese.
But now he’s glad that Trump taught him a little economics lesson, and he can summarize it in one word: diversification. In Ackerman’s case, diversification means that he should spread out to different customers because depending just on one customer can be disastrous, especially if that buyer is unreliable.
“With China, Trump taught me not to put all my eggs in one basket,” Ackerman said, “and he taught America too. We’re getting more countries to buy from us. That way if one country screws us over, it’ll hurt less.”
He, like President Trump, believes that China is unreliable to trade with because the communist nation ruins fair trade by subsidizing state-owned companies, dumping foreign markets with cheap products, and stealing intellectual property.
“They act like they have the right to do bad stuff to us, and they get mad when Trump punches back with tariffs,” he said. “They lashed out like entitled brats.”
Interestingly, he also learned about the perils of leftism.
“Before, I thought ‘diversification’ only means diversity of races or affirmative action, since that’s what the Democrats and the media are all talking about,” he said. “I like ‘diversification’ in economics better. That’s Trump’s kind of diversification and now it’s mine.”
And both the president and Ackerman see that diversification needs to go way beyond China. For Ackerman, India quickly became his biggest customer, but that only lasted four months since it copies China by running a trade deficit with America and by eventually tariffing American farm products, like apples, almonds, and legumes, with rates up to 70% when Trump tried to get even.
India, just like China, also has threatening economic ambitions, strives to displace America as the wealthiest economy, and is just a step behind its communist neighbor in power. Worse, India still has the ability to portray themselves as a potential military and political US ally, something that China can’t do.
“China isn’t the only bad guy,” Ackerman noted. “Also with other bad countries like India, me and the rest of America really learned the value of Trump’s economic diversification.”
“Diversification can be a beautiful word,” he said, “Too bad the left ruined the meaning of it.”