STORY: Effect of U.S. tariff hikes negative at different levels: Australian professor
SHOOTING TIME: recent footage
DATELINE: Feb. 22, 2025
LENGTH: 00:00:54
LOCATION: SYDNEY, Australia
CATEGORY: POLITICS/ECONOMY

SHOTLIST:
1. various of U.S.
2. SOUNDBITE (English): HANS HENDRISCHKE, Professor of Chinese Business and Management, Business School, University of Sydney

STORYLINE:

The effect of U.S. tariff hikes is negative at different levels as the move will not only push up its domestic consumer prices but also disrupt the global supply chain, said a Sydney-based professor in a recent interview with Xinhua.

SOUNDBITE (English): HANS HENDRISCHKE, Professor of Chinese Business and Management, Business School, University of Sydney
"The effect (of tariff hikes) will be negative at different levels. The consumer prices will go up because you have less supply from the cheaper markets. The substitute products that you can do in producing your own economy will be more expensive, because otherwise they would have come from there anyway. Plus then, it will have an inflationary effect. So the effect will be on the kind of consumption side and will be on the economy as a whole, through the inflationary effects.
So tariffs as such are not really a means to achieve anything. They are a threat to get a conversation started. Because once tariffs are in place, then it will mean that the whole global economy and the supply chains will start to adjust to that."

Xinhua News Agency correspondents reporting from Sydney, Australia.
(XHTV)