On the list of countries and territories hit with tariffs are the Heard and McDonald Islands, an Australian external territory in the South Indian Ocean with an estimated population of 4 million.
Penguins. Millions of penguins. Zero exports, let alone permanent human inhabitants or any economy or exporting industries. There’s substantial volcanic activity from Mawson Peak on Heard Island. The territory is thousands of miles from mainland Australia, South Africa, Madagascar, and Reunion, and is only occasionally visited by research teams and the Royal Australian Navy.
But should any of that change within the next few weeks and suddenly a semiconductor manufacturing plant sets up shop on McDonald Island – the one without the dangerous active volcano – then they’re not going to be ripping us off anymore right away at 10 percent out the gate.