In this episode, Louise McGrath and Dr Jeffrey Wilson unpack a new report by the Australian Industry Group titled Trade, Tariffs and Supply Chains. The report explores the impact of recent trade tariffs on Australian industries, and the hosts delve into the strategies businesses are adopting to manage ongoing supply chain disruptions. They also highlight the critical need to strengthen Australia’s engagement with Asia, including improving language education and cultural literacy, to unlock greater trade opportunities in the region.
Key Takeaways
- Trade tariffs have introduced uncertainty, influencing investment decisions across Australian industries.
- Supply chain disruptions remain a major concern for manufacturers, exacerbated by tariff-related pressures.
- Australian manufacturers are increasingly investing in digital logistics technologies to improve resilience.
- The concept of “grey tape” refers to indirect regulatory burdens that complicate business operations.
- Asian language education in Australia is in decline, posing a challenge to regional engagement.
- Cultural literacy is vital for building meaningful connections with Asian markets.
- The New Colombo Plan is a promising initiative for fostering ties with Asia, but further efforts are needed.
