Minds of Tomorrow

How Trump’s Economic Policies are Reshaping the Global Landscape Trump’s return to the White House has sparked discussions and I believe that his economic policies are a key issue being discussed everywhere. I have chosen this topic to elaborate into the details of his plans to unveil the pros and challenges economies face ahead. Countries have been awaiting Trump’s new economic plans to reform the US, particularly the imposition of tariffs. These are indirect taxes placed on imports, as a percentage of their price, which significantly impact international trade. Benefits Tariffs can raise foreign goods’ prices, shifting demand from imports to cheaper domestic goods. This helps to protect infant industries, who struggle to compete with foreign firms, from being wiped out of the market. Additionally, this fosters more self-reliance, which provides resilience through an economic shock, such as Covid. However, countries imposed with tariffs face huge challenges and Trump’s policies do no less. Challenges Neighbouring countries including Canada, Brazil and Mexico are particularly concerned with steel and aluminium, which are burdened with a 25% tariff, set to take effect from March 12, 2025. These countries are major suppliers of steel and aluminium to the US exporting 6 million, 4.1 million and 3.2 million tonnes in 2023. Steel and aluminium prices for US consumers and firms would increase, incentivising them to buy domestically produced metals instead. Top Canadian steel/aluminium suppliers, including Huron Alloys and Reliance Metals Canada Limited, expect to see a significant drop in revenues. In return, job cuts and rising unemployment may follow. Shifting focus to China, the world’s largest exporter, faces a 10% tariff on US-bound goods over $800 in value, affecting major exports like computers and office machine parts. However, if American firms sell imported goods from China within the US, this would result in higher prices for US consumers in order to cover the cost of duty. This would reduce the welfare of tariffs if consumers face higher prices domestically than buying Chinese imports, undermining the benefits. However, China is preparing its own response and isn’t expected to stay quiet. Beijing plans to declare a trade war by taxing US coal and liquified natural gas (LNG) of 15% and 10% on crude oil. Although China is the world’s largest coal importer, it sources most from Indonesia, meaning oil and gas supply chains are unlikely to be significantly affected. Overall, I believe that Trump’s tariffs appear to hinder long-term economic growth. While intended to reduce US reliance on foreign production, they risk disrupting supply chains, particularly for Canadian and Mexican firms. Should nations retaliate, or is a more balanced approach needed for stability? -Ayushi Pandya #MindsofTommorow #Tariffs #TrumpsEconomicPolicies

?? EXCITING NEWS ?? Introducing Minds of Tomorrow’s newest Analyst, Aater Raveel. We’re delighted to welcome Aater to the team. His first piece of work will be shared soon. However, before that here are some words from Aater himself. #MindsofTomorrow

?? EXCITING NEWS ?? Introducing Minds of Tomorrow’s newest Analyst, Tochi Iyke. We’re delighted to welcome Tochi to the team. Her first piece of work will be shared soon. However, before that here are some words from Tochi herself. #MindsofTomorrow

The Use of Geoengineering to Combat Climate Change. Geoengineering has been proposed as a method to counteract climate change by manipulating the environment. Researchers, such as Adam Subhas from the Woods Hole Oceanographic Institution (WHOI), are investigating the potential of increasing ocean alkalinity to enhance CO? absorption. WHOI has gained EPA approval to maintain ocean pH below 9 to protect marine life. However, this approach has raised concerns among environmentalists, scientists, and local communities. One significant concern is the impact on marine ecosystems. Groups like the Centre for Biological Diversity fear altering ocean chemistry could harm endangered species like the North Atlantic right whale. A rapid implementation or abrupt termination of geoengineering efforts could destabilize ecosystems, forcing species to adapt too quickly to survive. Critics argue that the benefits of reducing climate change should not come at the cost of irreversible damage to marine life. Economic concerns also arise, particularly among fishing communities. The release of sodium hydroxide into the ocean may create public misconceptions about seafood safety, potentially harming the fishing industry. Studies indicate that people perceive geoengineering as an unnatural intervention that disrupts the delicate balance of marine environments. Critics warn that unintended ecological consequences could threaten not only biodiversity but also the livelihoods of those who depend on ocean resources. With $10 million in federal funding, the WHOI project has also raised ethical and regulatory concerns. The United Nations Human Rights Council warns that geoengineering could interfere with human rights and environmental justice. Many argue that a lack of comprehensive regulation and public dialogue makes these projects risky. A major issue lies in communication. Media framing plays a crucial role in shaping public opinion, often portraying geoengineering as dangerous and unnatural. Stuart Hall’s encoding/decoding model highlights how audiences interpret information based on pre-existing biases. Negative media narratives contribute to skepticism and opposition to geoengineering efforts. Miscommunication and lack of transparency can further alienate the public, making it harder for researchers to gain support. To address these issues, scientists must engage with communities, policymakers, and environmental groups to foster dialogue and transparency. Public meetings and clear messaging can help bridge the gap between scientific research and societal concerns. As WHOI moves forward, it must navigate ethical, environmental, and economic challenges while ensuring inclusive discussions. The question remains: Can we balance technological intervention with ecological responsibility, or are we risking more than we can afford to lose? Written by Jarah Begum #MindsofTomorrow #geoengineering

The U.S. Crypto Reserve: A New Era in Financial Policy? President Donald Trump will host the first ever White House Crypto Summit on March 7, 2025. The summit aims to bring together cryptocurrency founders, CEOs and investors to discuss regulatory policies and the implementation of a U.S Crypto Reserve. In the run up to this Summit, Trump posted on social media that the presidential working group will move forward with a Strategic Crypto Reserve that includes XRP, Solana, Cardano(ADA), Bitcoin and Ethereum. This move signals a clear shift toward digital finance, exciting crypto advocates while raising concerns among traditional financial institutions and regulators. The U.S. Crypto Reserve: Goals and Market Reaction In his post Trump reinforced his position to make the U.S. the “Crypto Capital of the World”. The idea behind this is if the U.S. government buys into these digital assets, they will be legitimised instead of just speculative. This will then attract mainstream institutional adoption as there is more certainty in the market. Crypto prices surged after the news: Bitcoin(+10.4%), Ethereum(+15.6%), XRP(+31.8%), Solana(+24.8%) and ADA(67.3%). The strategy is to build a diversified portfolio of digital assets to hedge against inflation. Since there will only ever be 21 million Bitcoin, its finite supply contrasts with the government’s ability to continuously print fiat currency. Bitcoin has gone up on average at 67% a year over the past 4 years. While the past is no guarantee of future performance, the scarcity of Bitcoin and decentralised nature make it a potential long-term hedge against currency debasement - provided demand remains strong and adoption continues to grow. As Michael Saylor said “Nobody has ever lost money in Bitcoin holding more than 4 years”. Risks and Criticism Whilst some experts say crypto market volatility makes it a risky store of value, I disagree. Although it may be volatile right now, if the U.S. buys into the crypto network and implements long-term holding policies this will restrict the supply of these digital assets and therefore reduce price volatility. Volatility will decrease if other countries choose to follow America's lead. The U.S. doing this first means they will be ahead of the curve and will receive the wealth benefit of other countries buying into the network after them helping them offset some of the $36 trillion national debt. However, there are ethical concerns when it comes to shaping crypto policy, as figures like David Sacks may have conflicts of interest. Conclusion The U.S. Crypto Reserve would mark a pivotal shift toward digital finance, by legitimizing cryptocurrencies and reshaping global markets. While risks like volatility and ethical concerns persist, strategic adoption could offer economic benefits, hedge against inflation, and strengthen U.S. financial dominance—provided the policy framework ensures long-term stability and transparency. -Joe Patey #MindsofTomorrow #BTC

The Great Tax Escape: How Monopolists Legally Avoid Paying UK Corporation Tax ? In the light of more tax hikes and spending cuts, it may surprise you to find that: while the working people of the UK are being financially squeezed on every pound they earn, international giants are getting away scot free, by utilising complex tax avoidance systems. Corporation tax in the UK applies to profits made by companies operating within its jurisdiction, with the main rate being 25% in 2023.??? ? Profit Shifting One of the most common strategies used by these corporations is profit shifting, which involves moving profits to jurisdictions with lower tax rates. Google, for example, historically used the controversial "Double Irish with a Dutch Sandwich" scheme, routing UK-generated revenues through an Irish subsidiary, then to tax havens. Enabling firms to legally reduce their tax burden in the UK. In 2019, it was reported that Google and other major tech firms had avoided paying approximately ￡1.5 billion in UK tax by employing such strategies.?? ? Company Structuring Amazon has employed similar tactics, taking advantage of intra-company transactions and offshore structures to minimize its UK tax bill. Despite generating ￡27 billion in UK revenue in 2023, Amazon UK Services paid only ￡18.7 million in corporation tax. Due to the company structuring its UK operations as a service provider for its Luxembourg-based European headquarters. By doing so, Amazon reports much of its UK sales as taking place in Luxembourg, where tax rates are significantly lower, thereby avoiding substantial tax liabilities in Britain.?? ? Allowances and Reliefs Another method frequently used is the strategic use of capital allowances and tax reliefs. Amazon, for instance, benefited from the UK government's "super-deduction" tax break, which allowed businesses to deduct a large portion of their capital investment from their taxable profits. As a result, Amazon was able to write off significant costs associated with its vast network of technology, warehouses and infrastructure.?? ? Counteraction The Diverted Profits Tax, sometimes called the "Google Tax," was introduced in 2015 to prevent companies from artificially shifting profits out of the UK. Additionally, the Digital Services Tax, implemented in 2020, imposes a 2% levy on the revenues of large tech firms derived from UK users. However, this had minimal effect, as TNCs have been avoiding UK taxes in years after.? ? Final Thoughts Amazon and Google’s tax strategies highlight the ongoing challenges in regulating corporate tax avoidance. While their actions comply with the letter of the law, they expose the weaknesses in the UK tax system and fuel public frustration over economic fairness. As international efforts expand, such as the OECD’s global minimum tax proposal, the debate over corporate taxation remains a critical issue for UK policymakers. Written by: Aaron Johnson #MindsofTomorrow #Tax #Monopoly #Google #Amazon

?? EXCITING NEWS ?? Introducing Minds of Tomorrow’s newest Analyst, Rishikesh Sundaralingam. We’re delighted to welcome Rishikesh to the team. His first piece of work will be shared soon. However, before that here are some words from Rishikesh himself. #MindsofTomorrow

?? EXCITING NEWS ?? Introducing Minds of Tomorrow’s newest Analyst, Esar Deol. We’re delighted to welcome Esar to the team. His first piece of work will be shared soon. However, before that here are some words from Esar himself. #MindsofTomorrow

?? EXCITING NEWS ?? Introducing Minds of Tomorrow’s newest Analyst, Anupreet Kaur G.. We’re delighted to welcome Anupreet to the team. Her first piece of work will be shared soon. However, before that here are some words from Anupreet herself. #MindsofTomorrow

Lost for words: declining literacy rates in the UK & beyond In 2024, the National Literacy Trust reported that 18% of adults in England have very low levels of proficiency in literacy, with reading skills comparable to that of a young child aged 5-7. Figures also show that the number of children aged 8-18 who enjoy reading in their free time has dropped to the lowest recorded level since 2005, at just 34.6%. With regards to reading frequency, a mere 20.5% of children between those ages report reading daily – another record low since 2005. As the statistics show, we are in a literacy crisis. But why is this happening?? The OECD (Organisation for Economic Co-operation and Development) published a report containing findings from a survey conducted in 2023. As Al Jazeera outlines, the report found literacy rates are declining due to systemic failings in education, with a particular lack of investment in quality teaching by countries across the globe. This translates to poor support for students, which in turn negatively affects their learning and engagement. The OECD also recognised the impact of the COVID-19 pandemic, which saw large-scale disruption to education?as a result of?numerous lockdowns and government measures. It goes without saying that reliance on and increased use of technology is also a main contributing factor to falling literacy levels. Due to the integration of technology in education, children are now spending more time on digital devices than ever. This increased screen time shifts the focus onto entertainment and games rather than reading traditional books. Additionally, technology’s ability to increase efficiency negatively impacts literacy as it requires less effort from our side. With the implementation of AI tools and autocorrect functions, children and adults no longer need to?devote?time and attention to identifying errors themselves. This could prove?disastrous?in the long term, leading to diminished comprehension and grammar skills.? No one can deny that reading and writing are core skills – they are the fundamental key to accessing a world of opportunities. Proficiency in literacy widens a person’s vocabulary & ensures proper exercise of the faculties in our brains. The NLT also identified that it boosts a country’s economic enterprise – businesses benefit from a literate workforce and do not have to spend money on literacy training as a result. The declining literacy rates in the UK and beyond have shaped my motivation to join literacy support projects – one of which is as a Literacy Champion for the National Literacy Trust itself! I call on everyone to champion this cause?in their own right and, most importantly – keep reading! #literacycrisis #education #MindsofTomorrow Written by: Aarya Handa