Candles, Tariffs, Covid
Nebraska Entrepreneur Braves Changes
“better to light a candle than curse the darkness”
The debate over free trade and tariffs echoes so many outdated and archaic economic systems, I am left frustrated. Investors and Libertarians and isolationists complaining about “globalists” or USA being “world policeman” or panicking over tariffs tells me they have not come close to understanding how the COVID pandemic pushed billions of people into the digital age.
In enters Nic Bianchi, who runs an Omaha-area company with his own name (https://bianchicandleco.com/). KMTV 3 did an interview with him, and he explained what happened to supply chains during the Pandemic (https://www.3newsnow.com/news/local-news/what-can-candles-made-in-omaha-teach-us-about-a-supply-chain). His business had to adjust, just as millions of other businesses had to adjust. This young and wealthy Omaha-metropolitian area resident deserves recognition (https://www.omahamagazine.com/today/bright-future-nic-bianchi-pours-his-heart-into-candle-making/). His story is interesting (https://bianchicandleco.com/pages/our-story).
In enters Trump tariffs and panic selling. Investors, ignoring the fundamentals of their investments and how the world has gone digital, start selling off stocks as fast as they can. This was and still is pure idiocy. Or perhaps it was an evil plan to crash the market but it would be foolish to speculate.
Trump’s tariffs are mild and yet isolate Communist China, an emerging economic power. With the experience of the Pandemic in the rearview window, many, if not most businesses, are already positioned to do well or are ready to do well. This is because the tariffs really only impact heavy industries such as mining, car manufacturing, and semiconductors. At the same time, Trump’s tariffs with Canada and Mexico are muted by existing agreements (https://www.troutman.com/insights/exclusions-from-the-tariffs-on-canadian-and-mexican-goods-under-hts-chapters-98-and-99.html), which provide ample exemptions to numerous products.
Apparently, many anti-Trump investors left the stock market. At the same time, repeated negative reportage has created an atmosphere of distrust for Trump for some investors, resulting in them selling. This negative atmosphere and fearmongering is foolish and causing many investors to throw money away. Please do not join them. Stand strong and yes, buy stock as the prices are quite low right now.
And, these candles are inspirational (https://bianchicandleco.com/products/freedom)! But instead of buying a candle, you may prefer to buy me coffee (https://buymeacoffee.com/andrewlsullivan).