Caron Lumsden fWSw

#TrumpTariffs

Tariffs:
In simple words tariffs are taxes, levies, restrictions, tools and measures on goods and services to control foreign influence on domestic businesses, industries and economy. Such measures:
(i) greatly affect imports of goods and services from certain regions and countries
(ii) dig out a trench between nations and people
(iii) may start trade wars among nations
(iv) may create and deepen 'I don't care' attitude of governments
Implications of tariffs:
Apparently, to protect the interests of a nation such measures are taken time and again as and when needed and can't be taken negatively but if such measures are taken for long to show hatred and superiority of a nation over others, there could be serious implications. Such as:
(i) trade routes may be changed
(ii) the concept of global village may be sabotaged
(iii) trade wars may turn into ground wars
(iv) in spite of promotion of domestic industries and businesses unexpected recession could be witnessed
(v) tariffs by a string nation if prolonged may destabilize global economy
(vi) treacherous tariffs can cut off a nation from others when the restricted and tariffed countries seek new opportunities that can grow up from elsewhere and the economy of the rival nations may boom out.
Implications of Trump tariffs:
Now in the current scenario, much debated Trump tariffs may result in any one or more of the following:
(i) America's economy may boom and the universal concept of Super Power may get more strength. People of America may become the richest in the world and America may become a symbolic nation in the world and she may have more control on the world's economy.
(ii) In the present day world a country thinking its geographical boundaries as a perfect ecosystem for the growth, sustenance and protection of its political and economical boundaries is living in the cave's era. It is totally insane and unwise to wage trade war when sane countries avoid conflicts and any sort of war for the protection and promotion of their economy. On the other hand, in case of failure of Trump tariffs, America's current position in the world order may deteriorate. Many countries and people already dislike Trump administration' policies. Its economy could go to a long recession that could effect its local businesses badly. China, EU and other tariffed countries may go in long term unison and find better alternatives greatly cutting off their trade relationships that could not be a pleasing outcome of such tariffs. A huge number of people other than Americans including the people of tariffed countries are currently rendering their invaluable services for America and through such tariffs, sowing seeds of discontent in their hearts may not bear sweet fruit.
The world is not the name of America, if other nations and people have fraternal relationships with America, it doesn't mean if America dishonor this fraternity they have no where to go. When a door is shut, others open so such strict tariffs could single out America and that would not be called any service to the proud nation of America that so far has had been a symbol of freedom in the world. The protection of the interests of American or of any other country's economy is not a bad idea but taking hypothetical and too critical measures against many countries at a same time can't be accepted without people's consent.
Trump tariffs and crypto:
Now we come towards the possible impact of Trump tariffs on crypto. For many days we are watching affects of possible affects of Trump tariffs, the crypto market is getting affected. Such tariffs may cause serious implications about the real concept of crypto that stands for the creation of a new world economy, a totally decentralized economy where people can be the custodians of each other's wealth but dragging crypto into national reserves may not do good. When you have wealth, you have technology and expertise, there are strong signals of manipulation and usurping of people's rights. If Trump tariffs are thinking Bitcoin and any such other coins suitable for national reserves they are forgetting that billions of people live on their rival side. For google Maps, there is A map, for Amazon, there is Alibaba and what to enumerate there are countless things that along with physical trafe can also turn virtual trade shift from America to other countries. Similarly, there can be a shift from Bitcoin to some other Chinese or European crypto that can outshine prevalent tokens and coins. In my opinion, Trump tariffs should not prolong or go to outreach new stronger crypto or digital products. The number of people does weigh in scale.
Final thought:
It may be called a political or economic necessity and may yield more richness, benefits or popularity to American government but if Trump tariffs are miscalculated, these may put both America and crypto in a blind alley. New trade routes, new Centralized-cum-Decentralized (CcD) powerful crypto currencies may emerge like regional fiet currencies and there may emerge new global issues related to crypto trading and digital transactions that could create disparities among nations. So before prolonged promulgation these tariffs must be rigorously debated, tested for a pilot project on a scale model and if proven sound then may get final approval and if rejected partially or wholly, should be modified for further work out.