Storyline: A Japanese economist warned that the recent tariff hikes imposed under Donald Trump's administration will disrupt the global economy and ultimately backfire on the U.S. In an interview with China Media Group (CMG), Sakai Shozaburo, former Chancellor and President of Chuo University, explained that the U.S. developed a finance-driven tertiary industry as part of its economic strategy to establish a dollar-based global financial system. As a result, the country's manufacturing sector gradually declined, a shift that he emphasized was driven by domestic policy decisions, not external influences. "The U.S. tariffs will lead to a sharp rise in prices, and the economic situation in the United States will deteriorate. Moreover, with fixed purchasing power, any increase in costs will inevitably lead to a decrease in consumption. Simply put, goods will not sell. As a result, prices will rise, but goods will remain unsold, leading to stagflation, a phenomenon in economics," said Sakai. Sakai also warned that U.S. tariffs pose a significant threat to the country's GDP growth. "[U.S. tariffs] will certainly be opposed by all countries around the world, and they will eventually backfire on the U.S. From an overall economic perspective, prices will rise, which can be described as self-destructive behavior. It also poses a very serious challenge to the growth of U.S. GDP," he said. Shotlist: FILE: Washington D.C., USA - October 2024: 1. Various of White House Japan - Recent: 2. SOUNDBITE (Japanese) Sakai Shozaburo, former Chancellor and President, Chuo University: "U.S. tariffs will lead to a sharp rise in prices, and the economic situation in the United States will deteriorate. Moreover, with fixed purchasing power, any increase in costs will inevitably lead to a decrease in consumption. Simply put, goods will not sell. As a result, prices will rise, but goods will remain unsold, leading to stagflation, a phenomenon in economics." Miami, USA - April 7, 2025: 3. Various of employees putting meat products onto refrigerator shelves 4. Fruit in supermarket FILE: Los Angeles, California, USA - 2020: 5. Various of staff, customers in supermarket Japan - Recent: 6. SOUNDBITE (Japanese) Sakai Shozaburo, former Chancellor and President, Chuo University: "[U.S. tariffs] will certainly be opposed by all countries around the world, and they will eventually backfire on the U.S. From an overall economic perspective, prices will rise, which can be described as self-destructive behavior. It also poses a very serious challenge to the growth of U.S. GDP." FILE: New York City, USA - October 2024: 7. Various of Statue of Liberty, port scene FILE: Los Angeles, USA - Date Unknown: 8. Various of crane moving container at port. [Restrictions : No access Chinese mainland]