Yes, We Have No Bananas

Yes, We Have No Bananas . . . The Real Impact of President Trump’s Steel and Aluminum Tariffs

It’s March, 2011, and I’m in Sydney, Australia. I wander into a supermarket to pick up a couple of bananas—and immediately suffer from sticker shock.

Price of two bananas: $7!

Turned out that a few weeks before a combination of floods, followed by Cyclone Yasi, had devastated the northern Queensland farms which produce some 90% of all Australian bananas.

Thanks to the shortage prices soared from...