Part 6/10:
Hogan’s analysis extended to international trade, particularly with the United States. He underscored Australia's bipartisan stance that US tariffs, notably those implemented under President Trump's administration, are detrimental regardless of political affiliation. Such tariffs threaten global supply chains and inflate prices, negatively impacting both American consumers and global economic stability.
Specifically, Hogan discussed Australia's pharmaceutical exports, noting the importance of maintaining free trade relations. Australia imports more pharmaceuticals than it exports, and Hogan argued that retaliatory tariffs or restrictions would be counterproductive. The existing trade surplus with the US and a long-standing free trade agreement bolster the case for open markets.