Can CCIs bypass the war trade?

In the intricate landscape of global economics, tariffs are a testament to how political bravado can inflict tangible harm on collective economic well-being. 

The loss of well-being is staggering—consumers bear the brunt through higher prices, producers face reduced market access, and entire economic ecosystems suffer from artificially constrained productivity.

 Beyond the economic calculus lies a more profound loss: cultural diversity and innovation erosion. Nostalgia-driven policies attempt to resurrect an antiquated vision of XX-century employment—a romantic but obsolete industrial model that belongs to a bygone era. Enter the era of Trump's trade wars—a masterclass in economic self-sabotage where protectionist tweets became more consequential than thoughtful policy. 

Through a microeconomic lens, these tariffs create a significant economic distortion known as deadweight loss. It's as if someone decided to solve international competition by throwing economic textbooks into a bonfire of nationalist rhetoric, with ordinary citizens paying the price in reduced economic opportunity and diminished prosperity.

The genesis of cultural and creative industries (CCIs) provides a fascinating counternarrative to traditional protectionist approaches. Emerging in the UK and spreading globally, these industries were born as a strategic response to economic globalisation and deindustrialisation. As manufacturing declined, countries like the UK pivoted towards knowledge-based, creative economic models that could compete in a rapidly changing global marketplace.

We are currently witnessing a critical inflexion point in global economic dynamics. The trade wars ignited during the Trump administration have accelerated a potential retreat from globalisation, challenging decades of economic integration. However, amidst this complexity lies an intriguing opportunity: services and creative industries remain primarily exempt from traditional tariff structures.

They represent an alternative to traditional manufacturing and a potentially more resilient and adaptable economic model. Amidst chaos and despair, this presents an unprecedented opportunity for professionals and policymakers to reimagine economic strategy.

It is a long but necessary conversation for our field.