STORY: U.S. tariff hikes will backfire: professor
SHOOTING TIME: Jan. 24, 2025
DATELINE: Feb. 25, 2025
LENGTH: 00:01:22
LOCATION: Beijing
CATEGORY: POLITICS/ECONOMY

SHOTLIST:
1. various of the White House (file)
2. SOUNDBITE 1 (Chinese): SANG BAICHUAN, Dean of Institute of International Economy at University of International Business and Economics
3. various of container ships (file)
4. various of the U.S. Department of Treasury (file)
5. various of goods in the U.S. (file)
6. SOUNDBITE 2 (Chinese): SANG BAICHUAN, Dean of Institute of International Economy at University of International Business and Economics
7. various of streets in the U.S. (file)
8. various of WTO's headquarters in Geneva (file)
9. various of Capitol Hill in the U.S. (file)
10. various of ports (file)

STORYLINE:

A Chinese professor has said that the Trump administration's move to revive high tariffs will eventually backfire.

SOUNDBITE 1 (Chinese): SANG BAICHUAN, Dean of Institute of International Economy at University of International Business and Economics
"The U.S. government has chosen trade and investment protectionism. This move can't achieve the goals of suppressing the economic progress of other countries while also benefiting American society, businesses, and consumers. If additional tariffs are imposed on goods exported to the U.S., the trade losses will primarily be borne by U.S. importers. In reality, if import prices increase substantially, it would lead to further aggravation of inflation in the United States, significantly impacting American consumers and causing a considerable decline in public welfare."

He said that the U.S. tariff move fundamentally contradicts the basic principles of the World Trade Organization (WTO).

SOUNDBITE 2 (Chinese): SANG BAICHUAN, Dean of Institute of International Economy at University of International Business and Economics
"The WTO opposes the imposition of additional tariffs and advocates for free and fair trade. The U.S. government's obstinate pursuit of deglobalization and unilateral actions, including imposing tariffs on other countries, extreme suppression, and decoupling efforts, fundamentally contradicts the basic principles of the WTO."

Xinhua News Agency correspondents reporting from Beijing.
(XHTV)