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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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Will the owner of ‘Halloween’ please come and collect it?

A mutant festival of saints, spirits, and supermarket costumes resists belonging to anyone
A witch, a priest and a druid stand in a store and look quizzically towards a halloween pumpkin
Nick Jones, Midjourney.ai

The trouble with modern Halloween is that it’s hard to say who it really belongs to. Our contemporary public holiday – 31 October, when people dress up as skeletons, light jack-o-lanterns, and go ‘trick-or-treating’ – has a few prospective owners.  

Perhaps Christians could claim it. The term “Halloween” is a shortening of ‘All Hallow’s Eve’, which is the day before All Saint’s Day (1 November) in the Church calendar.  

But this doesn’t fit with a few things. Don’t Christians dislike all that dressing up as evil spirits, and summoning up misrule and revelry? Instead, the case is made for a pagan ownership of Halloween: it was all due to a Celtic festival called Samhain (pronounced ‘sow-in’). This was a day for appeasing evil spirits, contacting the dead, and acts of mischief – all better fits for modern Halloween, surely? 

Sadly, we just don’t know enough about Samhain to say. We only have evidence about it from centuries after the Christian era, and in limited scraps like: “Samhain, when the summer goes to its rest”. It is unlikely the Christians invented this, to be sure – but none of the data tells us how it was celebrated.  

In fact, there is no evidence at all that All Saints Day was a churchy attempt to ‘take over’ a pre-existing pagan festival. From the get-go, Christians commemorated their dead on the basis that they were still alive in heaven, and able to bring prayers to God. A quick peek at the Book of Revelation (the final book of the Bible) gives a behind-the-curtain look: “and the smoke of the incense, with the prayers of the saints, rose before God from the hand of the angel”.  

Over time, it became more official which ‘holy ones’, or saints, should be honoured at which times. This was not about making dead Christians into gods, though. A famous theologian called St Augustine explains the proper view of the early Christians as they kept hold of bones and clothing from their dead: “We do not build temples, and ordain priests, rites, and sacrifices for these same martyrs; for they are not our gods, but their God is our God”.  

Gradually, a date was set to celebrate all those great men and women in heaven – from this came All Saints, or All Hallows Day. A tradition in northern Europe set this on the 1 November: “As a jewel worn on the brow sparkles time and again, so November at its beginning is resplendent with the praise given to all the saints” reports an English calendar from around 800AD.  

It is all well and good celebrating those who have made it to heaven. But what about the majority of Christians? Those who had died unrepentant and lukewarm – what on earth could be done for them? Here came another separate development: offering prayers and worship on behalf of those who had died as forgiven sinners, but who were still, if you like, serving their time for their bad choices.  

It gradually became the norm to tack that practice onto the pre-existing All Saints Day, so that the souls of regular Joes could have powerful heavenly intercessors close by. And so, All Souls Day became an established part of the Church’s year too, falling on 2 November.  

 

But here’s the twist. This season of ‘Hallowtide’ (All Saints and All Souls together) carried on for centuries, until England suddenly and violently abandoned it all in the sixteenth century. Seemingly overnight, the Reformations of the Tudor monarchs ended All Souls Day by scrapping all mention of a purgatory for the dead, and attempts to pray for them there. All Saints Day limped on in the new Established Religion as a remembrance of Christian exemplars – but they were not to be thought of as in radio contact from heaven anymore.  

Some people tried to carry on as usual, in illicit gatherings on hilltops, where they would burn straw, and gather to ask for help from great saints and pray for loved ones. But the majority followed the new religious settlement and tried to forge new communal rituals as best they could. The night still had a ‘supernatural’ afterglow thanks to centuries of the now-absent All Saints and All Souls. 

Then, in the nineteenth century, there was a comeback. Irish immigration to the USA and Great Britain plonked a fully formed Hallowtide into English-speaking culture again. It took like a duck to water. Perhaps this was to be expected. Here was a civilisation which had been rapidly deprived of its ordinary way of expressing connection to their deceased loved ones, as well as a sense of protection from heavenly guardians. They were clearly starving for some way to communicate feelings about ‘the beyond’, and to find hope in the darkening, colder days.  

‘Halloween’, really a modern döppleganger of All Hallow’s Eve, quickly became a popular national custom – a world custom, indeed, due to US influence. It took from Christianity that otherwordly atmosphere – but it did not jettison any of the customs that had arisen since the Reformation, and which were themselves continuations of folky responses to the coming of Winter; Samhain is almost certainly a part of that background here, even if it is not a direct connection, as we have seen. 

This Halloween mystery has a twist, then. Here is really a mutant of a festival that belongs to no one in particular - and that is the point. One could really call it one of modern pluralistic society’s great achievements. It has taken over management of this eerie season from the church, and arguably made a successful shared custom out of it. On the other hand, it is arguably consumeristic, tacky and frequently immoral: it was only a few years ago that supermarket costumes allowing people to dress as ‘mentally ill’ showcased this shallowness. 

So, as a Christian, I have some regrets that Christianity does not really ‘own’ modern Halloween, anymore. Because the original All Hallows, as well as All Souls, seem to me to be a historic high point of confidence about our human fate. Here was a whole civilisation that seemed to announce to itself, every November, that death, human wickedness, and the Devil, were not in charge here – those who had died in Christ were now more fully alive; that no one is so beyond hope that they are not worth praying for. The darkening nights and colder air must have seemed less daunting to them.  

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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?
 
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