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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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Article
Art
Culture
5 min read

Emily Young: the sculptor listening as the still stones speak

Unlocking the stillness, from underwater sculpture to St Paul's Cathedral

Jonathan is Team Rector for Wickford and Runwell. He is co-author of The Secret Chord, and writes on the arts.

A sculptor works on a carved face emerging from a stone larger than her
Young creating.
Emilyyoung.com

As a painter, Emily Young says she worked relatively quickly in her distinctive surreal style featuring penguins and figures with penguin heads. When she came to sculpture in the 1980s, what she most appreciated was the resistance she felt as she worked, meaning that she ‘had to slow down’ and ‘be super careful’. Right from her first works as a sculptor, the stone was speaking to her, teaching her the value of stillness.     

The stones with which she works still speak to her. The stone ‘tells me what it is willing to do’ and ‘lets me know exactly what it can and cannot do, and I work with that’. ‘The stone’, she says, ‘leads me through into this zone where we’re working together’. Ultimately, she says, ‘what I’m showing is that the relationship between a human and the planet can be very, very respectful, and very, very beautiful’. In this way, she uses the beauty, history, and energy of stone to connect people to the natural world. 

Her respect for the stones is, in part, because she moves ‘through layers of history in the stones’. Because of their age, stones bring ‘messages to us from a time before culture’; ‘nature has been making stones’ for millions of years meaning that ‘they are from deep time’. This is the ‘stillness of stone compared to me as a short-lived human being’. Her work, therefore, involves ‘throwing something out there that is more enduring than soft humans’. 

Her most recent exhibition was entitled ‘Comparative Stillness’. This title was chosen because the way the faces and the bodies she carves ‘always come out, there’s peacefulness there, there’s stillness’. ‘If you sit in this stillness of the stone’, she says, ‘you can find a great joy and a great peace’. She has asked herself, ‘What is it that I’m doing when I’m carving a human head out of stone?’ Her answer is that she is ‘finding an essential core of being alive that has in it, stillness’. ‘It’s the stillness that I’m after’, she says, and ‘out of that stillness come good actions.’ As a result, she says, ‘what I’m completely dedicated to now is to show that we do have access to that stillness and it could be our saving grace’. Everyone, she thinks, ‘should have quiet, kind symbols of internality around them’.  

Describing her symbols, she says that: her discs are translucent, holding light within while symbolising the wholeness of the universe; her heads are never of particular people and are embodied consciousnesses with a sweetness to their closed eyes; and her torsos show the beauty and vulnerability of the female form which holds the capacity to create life. 

The ‘quietness inherent in stone can also found in our consciousnesses’, which is why she speaks of her stone heads as ‘embodied consciousnesses’. She thinks that religion leads towards this same stillness and, therefore, thinks her art is doing a similar job to that which religion does, ‘trying to give value to people’s lives, what you can and can’t do’. Christ, she says, ‘is a particularly fine example of a teacher’. Her works ‘seem at home within the quietness of churches’ because ‘churches are places that have something of time, deep time’. She has made many sculptures for ecclesiastical settings, including St Paul’s Churchyard and Salisbury Cathedral, while exhibitions of her work have been held at St James Piccadilly and St Pancras New Church. 

When I met her, she was in London for the McDonald Agape Lecture in Theology and the Visual Arts 2025. ‘Theology and the Visual Arts: Firming Foundations; Firing Imaginations’ is a five-year project to strengthen the foundations of Theology and the Visual Arts as a discipline within academic Theology, and help to shape its future. The project’s work is showcased to a public audience through major public lectures in an internationally renowned arts venue. 

This year’s lecture put Young in dialogue with US painter, Genesis Tramaine, an expressionist devotional painter deeply inspired by biblical texts. Like Young, Tramaine also creates monumental heads, and both speak of being led as they create their works; Young, by the stories in the stones, and Tramaine, by the Holy Spirit following prayer, worship and study of scripture. By being led in their work, both essentially agreed that, as Tramaine put it, you can't be present when creating, instead you ‘have to trust yourself to the process, surrender, and play in the space’. Whether creating the heads of angels or of saints, both are depicting ‘messengers from heaven’. 

The good actions that have arisen out of stillness for Young include a project to re-diversify the Maremma seabed in Casa dei Pesci. The seabed in this area, as also in many other places, is being destroyed through illegal fishing by dredger trawlers which destroy the seagrass meadows that are the breeding grounds for marine life. A local fisherman Paolo Fanciulli decided to address the problem by asking artists, including Young, to sculpt huge blocks of Carrara marble as, once these lie on the seabed, they make it impossible for the dredger trawlers to operate in the area. 29 sculptures, including four Stone Guardians by Young, form the Talamone Underwater Museum, which has seen ‘the trawlers go away’ and ‘the seabed diversify’ once again.  

Young also creates large sculptures in the grounds of Convento di Santa Croce, the ruined monastery in Tuscany where she now lives. She says she has ‘been quiet’ and ‘become reclusive’ living there because the place itself is ‘really peaceful and quiet’ with a ‘handmade stillness to everything’. When the rains come, ‘bits of the steep hills fall away’ revealing ancient stones formed of volcanic materials, while caves which had fallen in on themselves have filled up with rainwater creating over time ‘a layered geology’. In this way in this area, ‘the earth is giving great stones to work with’.  

In this delightful, giving place of stillness, she can sit quietly, prayerfully. She notes ‘how difficult it is to find a place of stillness today because of the ‘cacophony of distraction’ we all experience. Her aim is to show the way we are ‘wasting the gift of life’ and to reveal ‘our one consciousness’ in the stillness of stone.   

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