Article
Comment
Economics
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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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Review
Culture
Film & TV
Music
5 min read

A complete unknown: the enigma of Bob Dylan

Chalamet commands but this biopic denies the audience its aha moment.

Krish is a social entrepreneur partnering across civil society, faith communities, government and philanthropy. He founded The Sanctuary Foundation.

A hunched man wearing dark glasses and a dark suit, walks down a New York Street at night, with his hands in his pockets.
Searchlight Pictures.

Crafting a biopic about Bob Dylan is no easy task. Known for his reclusive nature, Dylan has long avoided public introspection, rarely granting interviews and keeping a tight grip on his privacy. Enter A Complete Unknown, a film whose title is cleverly lifted from the iconic lyric from Dylan’s legendary song, 'Like a Rolling Stone'. For many, Dylan remains a complete unknown beyond his music. This film takes on the daunting challenge of unravelling, or at least presenting, Dylan’s story for a new generation.  

For Generation Z, Dylan’s genius is perhaps a distant echo, so casting Timothée Chalamet—a Gen Z cultural icon—as the main role is a masterstroke. Known for his standout roles in Dune and Wonka, Chalamet commands the attention of younger audiences, making Dylan’s story accessible and intriguing to a demographic otherwise unfamiliar with the folk legend. 

Chalamet’s dedication to the role is impressive. During the extended production, delayed by COVID, he taught himself to play the guitar, harmonica, and sing live. His performance is more than an imitation - it’s a striking incarnation of Dylan’s enigmatic persona. Through Chalamet, the audience is transported to a pivotal chapter of Dylan’s life, a time that would see a seismic shift in music history.

From folk icon to electric rebel 

This transformative moment in Dylan’s career is drawn from the book Bob Dylan Goes Electric. Much like Titanic or Finding Nemo where the climax is inevitable from the outset, the audience is well aware of what is coming: Dylan’s controversial decision to “go electric.” 

We begin by meeting Dylan as a young folk singer, heavily influenced by legends like Woody Guthrie and Pete Seeger. Arriving in New York as an ambitious teenager, he’s welcomed and mentored by the folk music community. These relationships form the foundation of his early career, but they also set the stage for heartbreak. 

The climax unfolds at the Newport Folk Festival, where Dylan debuts an electric set, shattering the expectations of his folk audience. Fans and mentors alike react with outrage—booing, throwing objects, and accusing Dylan of betraying the authenticity of true folk music. By the film’s end, Dylan, despite his eventual electrifying musical success, is no more popular – he has burned nearly every bridge, leaving a trail of fractured relationships. 

True to its title, A Complete Unknown offers no answers. Dylan’s motives remain elusive, and the audience is left with more questions than insights. It’s a daring narrative choice—presenting a guarded character who remains enigmatic to the end. There’s no traditional character arc, no emotional revelation, no intimate a-ha moment. The film respects Dylan’s mystique but denies the audience the catharsis they might expect from a biopic. 
Other biopic producers seem to be following suit.  In efforts not to be formulaic they are choosing a more lackadaisical approach to audience expectations.  In the upcoming Better Man which retells Robbie William’s life story, the singer is presented as a CGI ape. Pharell Williams’ life story is being retold through LEGO. If James Mangold, the director, who also co-wrote the screenplay with Jay Cocks was deliberately trying to subvert the genre, it seems he may have succeeded. 

From musical genius to mass appeal 

Despite its underwhelming emotional denouement, the film does leave viewers marveling at Dylan’s genius. By the age of 24, he had already written and performed some of the most iconic songs of the twentieth century including 'Blowin’ in the Wind' (1962), 'The Times They Are A-Changin’ (1964) and 'A Hard Rain’s A-Gonna Fall' (1962). Chalamet’s performance breathes life into Dylan’s music, and it’s nearly impossible to leave the theatre without humming a familiar tune. 

Around that time Dylan was also involved in the civil rights movement. He played at the historic March on Washington for Jobs and Freedom on August 28th 1963, where Martin Luther King Jr. delivered his iconic “I Have a Dream” speech. He performed at the huge rally on the National Mall between the Washington Monument and the Lincoln Memorial and his presence there alongside other prominent figures helped inspire more musicians and artists to join the struggle for racial equality. But this vital contribution is given only a few seconds of screen time and Dylan shows no other interest in justice or equality in the film. He only interacts minimally with black characters – once to mock a black girlfriend and the other to humiliate a black musician. No explanation is given.  

Dylan’s work undeniably speaks to the human experience, particularly through its reflections on social change, struggle, and hope, yet his actions and interactions seem to conflict with that message. The film therefore creates a dissonance that’s difficult to reconcile. It raises the question of whether we can, or should, separate the artist from the art—or if, in doing so, we undermine the very message they champion through their work. 

From faith to legacy 

The biopic story predates two significant conversions—Dylan’s eventual embrace of Christianity and Johnny Cash’s spiritual awakening. Both men would go on to explore faith in profound ways that would intertwine with one another, influencing both their lives and their music. Dylan’s conversion was famously sparked by an audience member throwing a crucifix onto the stage—a moment not yet reached in this film’s timeline.  Johnny Cash’s role in Dylan’s life is mentioned but not unpacked.  These threads add an intriguing layer of foreshadowing, leaving room for reflection on how faith would later influence their lives. A fascinating follow up would be to explore this relationship – for now the film only hints that perhaps the loneliness and longing for fulfilment behind the success would spark not only their friendship but also a transformative faith.  

Leaving the cinema, I found myself caught between admiration and frustration. Dylan’s genius is undeniable—his songs remain timeless, his influence immeasurable. Yet, his emotional distance and self-absorption left me unsettled.  Perhaps that’s the point. Genius, as we often discover, does not always equate to warmth or relatability. Dylan’s musical brilliance is his gift, but his guarded nature remains his curse. His songs preach peace, but he was a man in conflict with himself and with others. In the end, Dylan is presented as a complete unknown, a man who defies understanding, a riddle that continues to captivate and confound, an enigma in need of some salvation. 

 

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