January 20, 2025 • 5 mins
The Minister of Agriculture and Trade comments on Trump, trade, and tariffs.
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Episode Transcript
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Speaker 1 (00:00):
It is today's big news story, the inauguration of the
forty seventh President of the United States, who just happens
to be the forty fifth as well, Donald Trump. Is
he an evil genius or barking mad or maybe a
bit of each. Here's a man who can't make comments
like that because he's got to play with a straight back,
because he's going to have to deal with Trump and
(00:20):
trade and Tariff's Todd McLay, Minister of Agriculture and Trade.
An interesting day.
Speaker 2 (00:27):
Yeah, a good afternoon, and a happy new year to
you and all of your listeners. I was up very
early this morning, not to milk the cows, but I
watched some of the inauguration speech, and I'm going to
say he's a plane speaker. He's not let anybody in
doubt as to what he wants to get on and do,
which is one make America great again. But here's something
that's interesting. Last time when he did that, the American
(00:49):
economy grew and New Zealand, particularly our primary schector export
has did very, very well. So it's going to be
it's going to be an interesting couple of years.
Speaker 1 (00:57):
America as such, or the US as such an important
market for US at the moment, especially when we look
at the likes of red meat.
Speaker 2 (01:07):
Yeah, that's exactly right. I mean, the good news is
we've diversified a lot over the last number of years.
China still remains a very important trading partner of ours,
with seeing you know, more returns and more product going
into the EU last week with christoph Lux, and we
signed the UAM trade deal. So there's lots of parts
of the world we get to sell into. But you
(01:27):
are right for red meat, wine, a few other things,
even dairy. Actually, the US is an important market for US.
Officials have been working away at you know, what we
will do with the new administration, and certainly's a couple
of years and we're reaching out already that we think
we can work together. But you know, it is not
(01:48):
bad news because we get on well with the US.
We have a very even trade balance with them. We're
fairly like minded. And actually, where people do things that
harm New Zealand's interest and trade Canada and dairy for instance,
we're ready to stand up for New Zealanders as it
sounds like the US now will stand up for themselves.
So I'm a lot more optimistic than many are, but
you know, we're going to have to do some pretty
(02:09):
hard work to make sure that, you know, we're not
affected by any collateral damage as a result of from
maybe the US putting tariffs on people.
Speaker 1 (02:16):
Could we get a sweet hot deal with the US
when it comes to the tariffs.
Speaker 2 (02:23):
Look, so we shouldn't expect a trade deal with them.
I don't think that's on the agenda. That's not likely.
But you know, the question that will be answered in
the next little while. Are they going to look at
tarraff on the whole world or on countries where they
are at a disadvantage that they buy a lot more
for them than they sell. They've got a trade deficit,
(02:44):
and to me, it feels like probably more that trade
deficit space. If you think about New Zealand, we buy
and sell a similar amount. Yes, they take red meat
from US, but a lot of that goes into hamburgers.
If they didn't take them from US and others, I
put tariffs on it, the cost of hamburgers will go
up the US, and I don't think the average voter
would be so keen on that. So let's wait and see.
I think we're a really good place. We did on
(03:05):
the well. We were able to work with the US
when President Trump was there last time. It's a very
constructive relationship. Our Prime Minister and Trump have had a
very very good conversation early on soon after he was elected.
So we will wait and see. But we are not
taking things for granted. We're reaching out. We're talking gently
at a trade level anyway about the things we've been
cooperating in and what more we might do together.
Speaker 1 (03:27):
As she said, you've already been on a plane this year,
no rest for the work, and not much of a
break for you to do that or to some on
that UAE trade deal. Where else are you going this year?
Speaker 2 (03:38):
Yeah, there's all a lot of places of the answer.
There's still trade deals to do, and of course India
is up there. It's a number one priority for us
getting some form of better trade access a trade agreement
with India. But we're also going to be moving from
the trade negotiation and to let's just sell more and
do more trade. So you see a lot more trade
(03:58):
missions from the government. The PM is going to be
doing one to India in the first part of the year.
I'm having a look at those golf states, Saudi and
the others in the UAE and taking book there but
not going up for a visit. We're going to go
up there to sell more. And I'm going to say
when Christopher Lux and I were in in the UA
last week, they are open to what we produce. There
(04:19):
is a lot of interest there in New Zealand the
high quality, safe food that our farmers are producing every
single day. And so you know, it almost looks like
the world is our oyster. We're just going to get
out their hustle and make the most of those opportunities.
And so you're going to see a lot from the
government about economic growth this year and the plans for
that and exports and our primary sector are a very
(04:41):
very big path of our plan to grow the New
Zealand economy.
Speaker 1 (04:44):
Now you Nats are having a two day caucus or
is it a come by our in Hamilton starting tomorrow.
Speaker 2 (04:51):
Yeah, there will be no singing at all. Its sleeves
rolled up and back to work very very quickly. There's
a lot to get done this year. You know, last
year was about sort of settling things down again. As
Christoph Latson said, the last government put the car in
the ditch. We've had to get out of the ditch,
in at the gear and pointed in the right direction.
This is a year we've got to see the interest
rates coming down flow through to helping household and our
(05:12):
farmers and actually we're going to get the economy growing
because that's what we desperately need. And so you've seen
the reshuffle with a very very big focus on economic
growth and you know you'll hear more of the next
couple of days with the Prime Minister and the Finance
Minister on that. But nope, there will be no singing,
no Cumbia. Our meetings at the beginning of the year
are about working hard well.
Speaker 1 (05:33):
You can let Shane Jones off the chain and he
can drill, baby drill. Where have you heard that before?
Todd McLay, thanks as always for your time on the
country and I'm glad you enjoyed that Mickay's are over
the Christmas break.
Speaker 2 (05:45):
It was great, in fact, the hard work beause I
can't wait for next Christmas to try some again.
Speaker 1 (05:50):
Got on you, Todd
It is today's big news story, the inauguration of the
forty seventh President of the United States, who just happens
to be the forty fifth as well, Donald Trump. Is
he an evil genius or barking mad or maybe a
bit of each. Here's a man who can't make comments
like that because he's got to play with a straight back,
because he's going to have to deal with Trump and
(00:20):
trade and Tariff's Todd McLay, Minister of Agriculture and Trade.
An interesting day.
Speaker 2 (00:27):
Yeah, a good afternoon, and a happy new year to
you and all of your listeners. I was up very
early this morning, not to milk the cows, but I
watched some of the inauguration speech, and I'm going to
say he's a plane speaker. He's not let anybody in
doubt as to what he wants to get on and do,
which is one make America great again. But here's something
that's interesting. Last time when he did that, the American
(00:49):
economy grew and New Zealand, particularly our primary schector export
has did very, very well. So it's going to be
it's going to be an interesting couple of years.
Speaker 1 (00:57):
America as such, or the US as such an important
market for US at the moment, especially when we look
at the likes of red meat.
Speaker 2 (01:07):
Yeah, that's exactly right. I mean, the good news is
we've diversified a lot over the last number of years.
China still remains a very important trading partner of ours,
with seeing you know, more returns and more product going
into the EU last week with christoph Lux, and we
signed the UAM trade deal. So there's lots of parts
of the world we get to sell into. But you
(01:27):
are right for red meat, wine, a few other things,
even dairy. Actually, the US is an important market for US.
Officials have been working away at you know, what we
will do with the new administration, and certainly's a couple
of years and we're reaching out already that we think
we can work together. But you know, it is not
(01:48):
bad news because we get on well with the US.
We have a very even trade balance with them. We're
fairly like minded. And actually, where people do things that
harm New Zealand's interest and trade Canada and dairy for instance,
we're ready to stand up for New Zealanders as it
sounds like the US now will stand up for themselves.
So I'm a lot more optimistic than many are, but
you know, we're going to have to do some pretty
(02:09):
hard work to make sure that, you know, we're not
affected by any collateral damage as a result of from
maybe the US putting tariffs on people.
Speaker 1 (02:16):
Could we get a sweet hot deal with the US
when it comes to the tariffs.
Speaker 2 (02:23):
Look, so we shouldn't expect a trade deal with them.
I don't think that's on the agenda. That's not likely.
But you know, the question that will be answered in
the next little while. Are they going to look at
tarraff on the whole world or on countries where they
are at a disadvantage that they buy a lot more
for them than they sell. They've got a trade deficit,
(02:44):
and to me, it feels like probably more that trade
deficit space. If you think about New Zealand, we buy
and sell a similar amount. Yes, they take red meat
from US, but a lot of that goes into hamburgers.
If they didn't take them from US and others, I
put tariffs on it, the cost of hamburgers will go
up the US, and I don't think the average voter
would be so keen on that. So let's wait and see.
I think we're a really good place. We did on
(03:05):
the well. We were able to work with the US
when President Trump was there last time. It's a very
constructive relationship. Our Prime Minister and Trump have had a
very very good conversation early on soon after he was elected.
So we will wait and see. But we are not
taking things for granted. We're reaching out. We're talking gently
at a trade level anyway about the things we've been
cooperating in and what more we might do together.
Speaker 1 (03:27):
As she said, you've already been on a plane this year,
no rest for the work, and not much of a
break for you to do that or to some on
that UAE trade deal. Where else are you going this year?
Speaker 2 (03:38):
Yeah, there's all a lot of places of the answer.
There's still trade deals to do, and of course India
is up there. It's a number one priority for us
getting some form of better trade access a trade agreement
with India. But we're also going to be moving from
the trade negotiation and to let's just sell more and
do more trade. So you see a lot more trade
(03:58):
missions from the government. The PM is going to be
doing one to India in the first part of the year.
I'm having a look at those golf states, Saudi and
the others in the UAE and taking book there but
not going up for a visit. We're going to go
up there to sell more. And I'm going to say
when Christopher Lux and I were in in the UA
last week, they are open to what we produce. There
(04:19):
is a lot of interest there in New Zealand the
high quality, safe food that our farmers are producing every
single day. And so you know, it almost looks like
the world is our oyster. We're just going to get
out their hustle and make the most of those opportunities.
And so you're going to see a lot from the
government about economic growth this year and the plans for
that and exports and our primary sector are a very
(04:41):
very big path of our plan to grow the New
Zealand economy.
Speaker 1 (04:44):
Now you Nats are having a two day caucus or
is it a come by our in Hamilton starting tomorrow.
Speaker 2 (04:51):
Yeah, there will be no singing at all. Its sleeves
rolled up and back to work very very quickly. There's
a lot to get done this year. You know, last
year was about sort of settling things down again. As
Christoph Latson said, the last government put the car in
the ditch. We've had to get out of the ditch,
in at the gear and pointed in the right direction.
This is a year we've got to see the interest
rates coming down flow through to helping household and our
(05:12):
farmers and actually we're going to get the economy growing
because that's what we desperately need. And so you've seen
the reshuffle with a very very big focus on economic
growth and you know you'll hear more of the next
couple of days with the Prime Minister and the Finance
Minister on that. But nope, there will be no singing,
no Cumbia. Our meetings at the beginning of the year
are about working hard well.
Speaker 1 (05:33):
You can let Shane Jones off the chain and he
can drill, baby drill. Where have you heard that before?
Todd McLay, thanks as always for your time on the
country and I'm glad you enjoyed that Mickay's are over
the Christmas break.
Speaker 2 (05:45):
It was great, in fact, the hard work beause I
can't wait for next Christmas to try some again.
Speaker 1 (05:50):
Got on you, Todd
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