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Kwesi Charles is a contributor to 24ora.com and the voice behind the new column “Inside the Mind”, where he explores topics such as finance, strategy, sports, and investing.
His debut piece, “Tariffs, the Economic Bar, and Your Wallet,” kicks off the series with thought-provoking insights.
It is no secret that through the last few weeks the global financial economy has been swinging left and right. Without having to bore and or confuse you with numbers, we are all
aware of the ongoing differences between geo-political heavyweights on different sides of the coin. The reality as they say is when Big Dogs clash, small dogs sit back and watch.
Now in terms of the economy, the word “tariffs” most likely has been trending for the last couple of weeks due to the commander of economic showtime known as President
Donald Trump. This platform is not about economic and political sides but one thing I am sure regardless of how we feel is that President Trump knows how to keep our eyes
and ears glued to news. In expected moves, over the last few weeks, there would have been the imposition of several economic tariffs with aim to re-balance the American
economy. In a quick nutshell, a tariff is described as a tax imposed by one country on the goods and services imported from another country to influence it, raise revenues, or
protect competitive advantages [source – Investopedia].
Here is where it gets important.
Tariffs usually come with a couple of family members. Some good and some bad.
Evil Sibling 1: It sometimes leads to higher production costs
Evil Sibling 2: Higher production costs leads to higher cost of goods
Evil Cousin 1: Higher cost of goods means more money will be leaving your wallet
Good Sibling 1: Look for investment opportunities. Where can I shield my income?
Good Sibling 2: Practice even better financial management
Good Cousin 1: More aware means more informed
So…..what does this all mean for us here in dushi Aruba.
Again, I will not bore you with numbers but think of it like this.
The majority of what is consumed here on the island is imported. Either directly or indirectly, the cost of importing/doing business will increase and us, the consumers will need to still foot the bill…if one isn’t earning more then the impact will be negative
The main tourism source of the economy is the US population. If this populace is under strain, their already heavily dependent credit livelihoods will now be forced to focus on necessities vs the luxury of travel. Less Americans means less money flowing in the economy…..and whether or not you like to hear, all Governments will always aim to rebalance the economy. The great news is that between penning this article and it being published, Aruba Tourism Association has already done extensive analyses to combat it.
So really, what can you do?
1) Become more economically aware: This simply means to keep your eyes and ears on what’s going on. If you know, you become more informed and you can make better decisions. Please don’t comb the grocery aisles every week with a price map [insert laugh] and or keep buying ALL the Toilet Paper but as I said pay attention to what is happening which can include doing price comparisons.
The interesting thing we all know is that sometimes we never directly notice price increases but we notice the increasing grocery bills.
2) Become more financially stable: This means utilizing financial literacy, financial capability and financial management. I will expand on these in future reads
3) Become more investment oriented: Don’t read and say I don’t have enough but go to your bank/financial advisor and ask them what I should invest in…..remember compound interest is the 8 th wonder of the world and you will be surprised at starting small and ending big. There are always opportunities for those who seek.
Tell Us more Kwesi…..
To summarize, all that is happening is beyond us especially in this relatively small economy but in spite of the noise, look for the silence…that’s me being wise but it really means seek opportunity. I know the current global exchanges provide opportunities at both a macro and micro level. I am also convinced that now more than ever, we need to be closer to what influences our finances. In case you are wondering, where the name of the article came from … .same am I……Happy Reading!!!!
The End!
Meet Kwesi Charles—a seasoned corporate finance and investment professional with over 15 years of experience spanning a wide spectrum of financial disciplines. Throughout his career, Kwesi has played a pivotal role in transactions totaling over a billion U.S. dollars, covering areas such as investment banking, private equity, debt financing, financial modeling, and consumer credit.
Kwesi holds both a Bachelor’s and Master’s degree in finance, and his expertise has not gone unnoticed—his insights have been published in Trinidad and Tobago’s leading business newspaper. He also proudly represents the Caribbean as the sole regional contributor to two of the largest credit union news platforms in the world: CUInsight and CUManagement.
Beyond the boardroom, Kwesi is deeply passionate about sports and competitive video gaming, particularly esports. He even led the charge in establishing the Trinidad and Tobago National FIFA Video Gaming Team, bringing the country onto the global gaming stage.
Currently, he serves as Managing Director of Bluestart Capital VBA (Facilito Cash), a subsidiary of the Unicomer Group. Through his blog, Kwesi shares thought leadership on finance, strategy, and sports—three areas that intersect in powerful ways in our daily lives.
His goal? To create value, share perspective, and help others navigate the ever-evolving world of finance.
For collaborations, discussions, or opportunities, Kwesi can be reached at [email protected].
