Article
Comment
Economics
Politics
Trust
5 min read

Tariffs destroy trust so where do we go next?

Blunt weapons cause a mess in markets and lives.

Paul Valler is an executive coach and mentor. He is a former chair of the London Institute for Contemporary Christianity.

A gold coin with the DOGE dog on it, lies over the face on a $50 bill.
So doge-y.
Kanchanara on Unsplash

‘When America sneezes the rest of the world catches a cold’ quipped economists almost a century ago after the Wall Street crash.  A comment that might equally apply to the more than 10 per cent drop in stock markets caused by President Trump’s sudden raised tariffs on imports to the USA.  The impact of the American economy on the world is inescapable.  It represents almost a quarter of global GDP and the dollar is the leading reserve currency, accounting for around 60 per cent of international foreign exchange reserves.  Size is what enables America to bully the rest of the world. 

For decades the American trade deficit has been an elephant in the room and Trump is to be applauded for recognising it and addressing the problem. Unfortunately, the way he has gone about it has caused another, bigger problem. Changing the direction of the global economy is like turning a tanker, it cannot be done easily or quickly, but Trump’s style is to attack, like hammering at a nail.  Every issue in geopolitics looks like another nail, waiting for him to hammer out a negotiated deal.  Full marks for courage, but not for wisdom. The blunt weapon of trade tariffs is designed to bring wealth and power back towards the USA, but blunt weapons often cause a mess, and sure enough a global mess is what we now have.  A US/China trade war with higher prices that could end up stoking inflation and a government own goal.   

Panic selling of government bonds signalling a loss of confidence following Trump’s dramatic tariff boost is reminiscent of the impact of Liz Truss’ sudden and radical UK tax cuts, which were also driven by an ideology, but ended up as a wrecking ball.  Even some of Trump’s backers have warned of an economic nuclear winter.  In the long run, Trump has done the world a favour by highlighting a structural issue that needed correction, but his economically violent methods of addressing it look increasingly unwise.  If a global depression does happen on the back of all this, then coupled with the rise of autocratic and belligerent leadership, we would face a worrying parallel to what happened in the 1930s when the world eventually slid into war.   

Tariffs are like walls, barriers to cooperation and the epitome of economic selfishness.  Make America Great Again is selfishness writ large - a society pursuing wealth and power without the cohesive framework of values that are so essential to cooperation and community wellbeing.  A psychology of self-centredness that damages relationships at the national level.  This is what I find most concerning about Trump’s approach; not just the economics but the long-term legacy of relational damage that could last well beyond his Presidential term. 

Our fears reveal just how much we trust in wealth above everything else, and how much the fear of scarcity affects our mental health.

Michael Schluter in his book The Relational Lens defines five principles, or measures, of relational health.  They are directness, parity, common purpose, continuity and breadth.  Applying those five measures helps us see why Trump’s tariffs are the polar opposite of relational.  He introduced these escalating penalties remotely and not in face-to-face negotiations.  Exploiting the power of America instead of showing respect for the status and needs of other nations.  Tariffs have no common purpose with other countries, only a selfish agenda.  There is no continuity with previous trading protocols.  And it is all purely financial, with no reference to the broader holistic impact.  All in all, a relational disaster.   

Despite living in the ‘first world’ we remain gripped with fear of loss.  Our fears reveal just how much we trust in wealth above everything else, and how much the fear of scarcity affects our mental health. Markets are not entirely rational; they are driven by algorithms that stem from this psychology of greed and fear.  Emotions and trading swing wildly with a herd instinct that often drives behaviour.  As Rabbi Jonathan Sachs said:  

‘Markets have no moral compass; we have outsourced morality to legislation by the State.’   

But the worry now is that the current US administration shows signs of ignoring morality and even riding roughshod over the courts.  No wonder people feel afraid. 

Where can we find hope in all this turmoil?  Is there a better response than gritted teeth and the mantra: ‘this too shall pass’?  I think so.  There is life beyond the market.  Jesus said: ‘life does not consist in an abundance of possessions.’  We can choose to step back and look at all this with the true perspective that money isn’t everything.  We can cultivate gratitude for what we do have.  We can learn contentment.  Yet I feel for those who have experienced financial loss, and don’t want to minimise the reality of hardship.  In fact, something important and practical all of us who are privileged can and should do is to be vigilant in watching out for those who are poor and disadvantaged.  To look after those with a real need for the basics of life and help them through this tough time when economic disruption could make life even harder.  For those with a faith this is part of working out how our faith makes a positive difference where we are. 

Perhaps the supreme irony of this crisis is President Trump’s insistence that Americans must trust him.  Ironic, because the one thing that his tariff actions seem to have undermined more than anything else is trust.  The trust that is essential to the functioning of both markets and civilisation as a whole.  Face to face discussions must be the way forward now, to rebuild trust and find more nuanced, mutual approaches to solving America’s trade deficit.   

There is one person we can always trust though, and his name is written clearly on the American One Dollar bill. In God we trust. Let’s pray that Trump and his America returns to that imperative and turns back to a more Christ centred philosophy of loving our neighbour as ourselves, reflected in a more bilateral approach to diplomacy and agreement.

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Article
Belief
Community
Culture
Music
1 min read

Oasis: it's all gone a bit biblical at this summer’s musical moments

We’re reaching for some ancient vocab to describe our experiences together

Belle is the staff writer at Seen & Unseen and co-host of its Re-enchanting podcast.

A silhouette of a musician holding up shakers.
'Cast no shadow'.
x.com/oasis

A biblical narrative keeps whirring around my mind.  

In the first century, Paul – planter of churches, writer of letters, spreader of the way of Jesus – finds himself in Athens, the Graeco-Roman city where meaning is made. He wanders around this city, soaking up its culture, noticing its priorities, watching its habits. But he doesn’t do so silently. Paul pulls out his usual party trick; yelling about Jesus here, there, and pretty much everywhere, eventually catching the attention of the local philosophers. They want to hear more, and Paul finds himself thrown in front of the Areopagus, the meaning-making council at the heart of the meaning-making city. The cultural epicentre of the Graeco-Roman world, one could argue.  

Never one to miss an opportunity, Paul gets to his feet and unleashes a monologue for the ages, kicking off with this line: ‘People of Athens! I see that in every way you are very religious…’ 

Quite the opener, isn’t it? 

It’s that opening line that my imagination seems to have gotten snagged on.  

There is so much going on around me – right here and right now, in 2025 - that makes me want to find a place into which I can scream the exact same thing. There and then, here and now, I can see that in every way we are very bloomin’ religious.  

What Paul and I don’t mean by such an assertion is that everyone our contexts are signed up – hook, line, and sinker - to an organised religion. Such an assertion would be silly, considering the data tells a different story. What I’m pretty sure Paul meant, and what I know I mean is this – in every kind of way, people are searching for that which is bigger, deeper, truer than ourselves. We are directing our attention, our energy, our worship in certain directions. We are seeking ritual and practice, wrapping ourselves in stories that give meaning to our day-in-day-out experiences, stories that tie our lived reality into something that transcends it. We’re grasping for a world that is more full of beauty, truth, and sense than we imagined; pledging allegiance to our inkling that there is something more. Yup. In every way, we, the good old human race, are very religious.  

Paul said it with his chest then, I think he’d say it with his chest now. 

There are a hundred different places that I could go in order to pluck some ripe evidence for my theory – but for now, my evidence of choice is the language being used to describe the long-awaited Oasis reunion.  

‘Biblical’ 

That’s the word being used – in national headlines and personal Instagram captions alike, ‘biblical’ is the adjective of choice.  

Isn’t that strange?  

I don’t really know what people mean by it, to be honest. According to my research, they’re taking their cue from Liam Gallagher himself, who was the first to describe the band as such. Stay humble, Liam.   

Is using ‘biblical’ as the descriptor of choice a reference to the reconciliation of warring brothers? That’s certainly a biblical motif, which I guess is being played out in real-time, witnessed by those who could afford the £400 ticket (no, I’m not bitter). Is it implying that this event is so monumental, it should be canonised somehow? Written about? Memorialised? Poured over for millennia to come? Or is it a reference to the fact that what we are witnessing is the fulfilment of rumours, prophecies, hopes and expectations?  

Maybe it’s all of the above, maybe it’s none of the above. It doesn’t really matter. What matters, at least to me, is that people are wanting to express that these gigs are more than the sum of their parts; there’s something transcendent about them, something awe-inspiring, wonder-infusing. Something that feels, dare I say it, religious about them.  

It gets even more interesting, because such sentiments aren’t reserved for the reunification of the Mancunian brothers.  

I’m still stunned, curious to the point of distraction, about the fact that we – in a secular, materialist, rational culture – cannot help but stretch toward spiritual language. 

In a podcast episode recorded in the days leading up to this year’s Glastonbury festival, the DJ and broadcaster, Annie Mac, described the event as ‘communion’, explaining that ‘when you don’t go to church, you need to get that somewhere.’ On the flip side, in the days following the festival, another DJ and broadcaster, Miquita Oliver, teased the endless Glastonbury posts that were filling up her social media feeds – she jokingly stated that ‘it all gets a little churchy after Glastonbury… like “it’s heaven on earth”… can we all relax?’  

So, here we have it again – people reaching for religious language to describe significant musical events. Be it the Oasis reunion or Glastonbury – I’m fascinated by the fact that we’re not content with stating that these gigs are merely talented people doing what they do well, and in so doing, giving us an enjoyable time. Such language may be factually accurate, but it doesn’t feel true enough to us. Rather, we’re grappling with the feeling that these events feel like something we were made to experience somehow, they they’re tapping into the deepest parts of us, perhaps?  

In the past, I’ve wondered whether this is down to the sense of profound togetherness that these events provide – how they have the ability to remind us that we’re bound to each other, only if for a night. They’re a direct afront to individualism, the biggest and sturdiest lie of our age. I’ve also reflected on the fact that they instil as sense of awe within us: raw awe. An elusive emotion that can be hard to come by, but that we were made to feel. I still think all of that comes into play. 

I’ve pondered this a thousand times and yet I’m still stunned, curious to the point of distraction, about the fact that we – in a secular, materialist, rational culture – cannot help but stretch toward spiritual language. Nothing else quite hits the spot; nothing else feels quite deep enough, big enough, true enough. Religious references and language, we’re determined to keep them in our repertoire, aren’t we? Our reliance upon them betrays us. Indeed, I’ve come to see our unceasing usage of them as a crack in the façade of disenchantment. 

Oh, people of 2025 and beyond, I can see that in every way you are very religious.  

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Since Spring 2023, our readers have enjoyed over 1,500 articles. All for free. 
This is made possible through the generosity of our amazing community of supporters.

If you enjoy Seen & Unseen, would you consider making a gift towards our work?
 
Do so by joining Behind The Seen. Alongside other benefits, you’ll receive an extra fortnightly email from me sharing my reading and reflections on the ideas that are shaping our times.

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