Full Show Podcast: 03 April 2025

Episode Transcript
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Speaker 1 (00:02):
Digging through the spin spence to find the real story.
Or it's Ryan Bridge on Heather Duper see Ellen Drive
with one New Zealand. Let's get connected and news talks.

Speaker 2 (00:13):
They'd be good afternoon, seven after four. It is Thursday,
the third of April, and that means that is tariff day.
Todd McLay on the show today will have New Zealand
King Salmon. They reckon this might actually be good for them.
We'll have a market update, of course, on the Treaty's
Prince of Treaty Principal's Bill Labor said that they didn't
want to have the debate because it would be dangerous,
and now they want a longer one. Northland wants a

(00:35):
great walk. Is that something you can just ask for?
Does that not need to be bestowed upon you because
the walk is actually worth it, we'll ask that question.
It's seven after four, Bryan Bridge. Winston's probably right. There
will be a big sigh of relief across the country today.
The tarifs weren't as big and scary as we thought
they might be. But the bigger, scarier problem is not

(00:56):
Trump's tariffs, but the system that we've relied on to
get rich. Well richer over the past forty odd years
in free trade. All the politicians of all the stripes
are proud of the fact that we're a small trading
nation at the bottom of the world, punching above our weight.
We wrote the FTA rulebook with China, and there's no

(01:17):
doubt that it has done wonders for us as a country,
wonders for our economy. But free trade, whether we like
it or not, is going out of fashion. And surely
when the thing that you're known for, the thing that
you're good at, starts to age, you need to have
a plan. You need a long term plan, and I'm
not sure that we do have one. If you do
listen to this program often, you'll know. I spoke about

(01:38):
the chairman of HSBC the other week, Mark Tucker is
his name, HSBC, of course, being the largest funder of
trading free trade in the world. He gave an interesting speech.
He said, globalization as we know it is basically over.
Instead of one big world trading free we'll split up

(02:01):
into smaller groups and political blocks, bricks countries. That's her Russia, China, India, Brazil,
South Africa, Indonesia. They'll start doing a lot more trade
with each other. Trump is creating a new world order
with these tariffs, But how do we fit into it?
What's our goal? We're chasing a deal with India, which
is obviously not a bad thing, but that could take years,

(02:23):
will never happen, and if it does, maybe without dairy.
What happens when China invades Taiwan and the world blacklists it.
There's thirty eight billion dollars in two way trade, our
biggest trading partner. What do we do then? While Trump
was slapping friend and foe alike with terrorists today, he
mentioned war at least a couple of times in the

(02:44):
time that I was watching his press conference. He says,
we need a strong manufacturing base to sustain a war effort,
should we need one. The guy clearly has a long
term plan he thinks will help America protect and prosper itself.
The question is do we I and Bridge rich In
After four news talks here B nine to nine ten

(03:06):
the numbers tix here is Donald Trump familiar today?

Speaker 3 (03:10):
For decades our country has been looted, pillage, raped, and
plundered by nations near and far, both friend and foe alike.
But it is not going to happen anymore.

Speaker 2 (03:21):
Janett Hoffman is a Republican strategist with me this afternoon.

Speaker 4 (03:24):
Hi Janet, Hi, good afternoon, Ryan. Thanks for having me.

Speaker 2 (03:28):
Great to have you on the show. How's it going
down in America? Futures are already down significantly on the
back of this, but how people feeling about them?

Speaker 4 (03:37):
Well, it's a little controversial here too. In America. Stocks
are down as well. There's a lot of uncertainty with
the markets with this very controversial tariff plan. As we
just heard, President Trump is claiming that other nations have
been ripping America off for decades with tariffs, and he
wants to even the playing field. But of course that's

(04:00):
controversial because America has not implemented broadbeased tariffs since nineteen
thirty because the outcome has been trade wars, which is
not beneficial for anyone. In fact, when that happened, the
Tariff Act of nineteen thirty sparked the Great Depression for America.
So what happens next is anybody's guests. You know, a

(04:23):
lot of people think this could increase consumer prices for
Americans and across the globe. If this turns into a
massive global trade war, what is.

Speaker 2 (04:32):
Your sense of the reason he's really doing this. Is
this just you know, putting a steak in the sand
for you know, bargaining later to get the tariffs down
from other countries, or is it? I mean, if you
listen to the way he talks, he's talking about stuff like,
if we were at war and we needed medicines, you know,
we need to bring back manufacturing for our military might

(04:53):
and capability should we need it. Which of these two,
you know, compete ideas about why do you buy them?

Speaker 4 (05:04):
Well, two things both can be true, Ryan. You know,
one of the things, if you looked in the audience
of his speech, he was surrounded by auto workers and
teamsters and unions who are desperate to bring manufacturing back
to America because that ship has sailed a long, long
time ago. And he does. President Trump does have commitments

(05:25):
to bring manufacturing back from pharmaceutical companies as you mentioned,
from Pfizer, and from auto manufacturers, and from Apple and
from other companies. And the other thing that also can
be true, as you said, this can be negotiating chips
with other countries to bring their terriffs down, in which
I think would be smart. Right if this could just

(05:47):
be negotiations back and forth instead of a tip for
chat and saying if you're going to raise tariffs, then
I'm going to raise teriffs, and then everything becomes more expensive,
and then we get into this back and forth into
trade war. And I will say, when President Trump did
implement tariffs in the first term, it did hurt American
agricultural business, farmers, the American bourbon trades in Louisville, Kentucky,

(06:11):
the whiskey businesses in Tennessee, because those are big exports
for America. So when we implemented tariffs on other countries,
those countries slap tariffs right back on us. So if
it can be a negotiating ship where we say to
other countries, lower your tariffs and we won't implement them
on you, that would be a good thing. But the
fear is that the prices will go up across the board.

Speaker 2 (06:33):
Looking at the stock market, and I know a lot
of this is priced in over the last couple of weeks,
but looking at the stock market, looking at the futures,
if a recision comes to America, what does it do
to Trump?

Speaker 4 (06:47):
Well, that would not be good for Trump's legacy because frankly,
I think he was elected because of prices, because of inflation,
because of price of groceries, and he said it himself, groceries,
you know, that was the number one reason why he's elected.
People couldn't stand the price of eggs, the price of
just basic consumer goods, the price of gasoline. So if

(07:08):
everything prices go up, we hit a recession, that will
be bad news for Trump's legacy and also for midterms
that the House of Representatives will be elected next year
for Republicans because that margin the Republicans currently hold a
very slim margin right now, So that would be bad
for any kind of legislation that the president hopes to

(07:31):
pass in the future of his term.

Speaker 2 (07:33):
Interesting stuff, Jenett, thank you very much for your time.
Jeanette Hoffman, Republican strategist out of the States for US
at the afternoon, fourteen minutes after four News Talks Big.
We'd love to hear from you the soufternoon if you
have thoughts on the trade war and whether you think
whether you are a believer that actually protectionism can work.
I mean, didn't we disprove that? Haven't we disproved that
over many decades, well, the last one hundred years. New

(07:56):
Zealand King Salmon. I'm looking forward to talking to them
after five point thirty tonight. They have exports of around well,
I think thirty two percent of what they produce is
eaten by US, which means the rest is exported. So
they are quite exposed to what a trade wark could
do to the world and could do to their business,
so bentuing to hear what their take is. That's after
five thirty Darcy.

Speaker 1 (08:16):
Next, it's the Heather du Bussy Allan Drive Full Show
podcast on iHeartRadio powered by News TALKSB.

Speaker 2 (08:25):
News TALKSB is seventeen minutes after fort Ryan the tariffs
are completely made up? They are? Or how nice this
one says of Donald Trump to only set the reciprocal
tariffs at half the rate that the countries are charging
the Americans. What a great way to pay off your
deficit without incurring a full reciprocal value. Yeah. The thing

(08:46):
about the calculations is how have they actually calculated their
their tariff rate and what they think we're charging them?
Where do they get twenty percent from New Zealand from
Tom McLay has words on that. After five Darcy's here
was sport Hey, Darcy.

Speaker 5 (09:00):
Sporting tip to it. Have you heard of a dartboard?

Speaker 2 (09:03):
Well it does.

Speaker 5 (09:04):
Look how about where did thirty eight come from?

Speaker 2 (09:08):
It does feel like that does because we all have
because everyone's like I was gst included. But then our
vat is different to in other countries. That doesn't make
any sense anyway. Todd McLay after five on Matt Christian Horner.
Now he's come out and said some stuff about Liam Lawson.

Speaker 6 (09:23):
He's a principal of red Ball Racing. He was the
guy that was part and parcel of his elevation.

Speaker 2 (09:28):
Jerry's husband to.

Speaker 6 (09:30):
Yet that's right, that's right, Hallie will Now Horner So
he was elevated to the top team and then he's
constantly been He's been put down the laundry, shoot, hasn't he?
And he said, we've we've done this for his mental health.
I know through talks with people outside that this was
going to come up.

Speaker 5 (09:49):
They had this in their back pocket.

Speaker 6 (09:51):
Later on the piece are going to throw the mental
health card out there?

Speaker 5 (09:55):
How about this?

Speaker 6 (09:56):
You give a guy two races and a car he
can't drive that some possible to drive at two tracks
he's never driven on before, after saying would give you
three to five to get.

Speaker 5 (10:06):
Used to it.

Speaker 6 (10:06):
Then they thrown to the walls after two races, and
that's good for his mental health?

Speaker 5 (10:13):
Are you insane?

Speaker 2 (10:15):
I listened to his comments DRC, and he said he
was talking about the engineers a lot, saying they had
come to him with concerns about Liam's mental health, which
I thought was an interesting thing. It's almost like he
was putting it on them, like, oh, they came to me,
so I had to act, Well, that's it.

Speaker 5 (10:30):
I'm blaming them.

Speaker 6 (10:31):
These guys who are in girls who remained nameless said
to me, it's just it's all an act. I love
this weekend. There's a very good chance that read bull
leaned up with such a big custard pie right in
their face.

Speaker 5 (10:43):
We'll see.

Speaker 6 (10:44):
I might be horribly wrong, been had before. But there
was a really cool little video of the Racing Bulls
team welcoming back with the pit board when Liam Lawson
rocked into the pits today.

Speaker 5 (10:56):
Welcome back, we missed you.

Speaker 2 (10:57):
That's nice.

Speaker 5 (10:57):
So that's super super good.

Speaker 2 (10:59):
Not so nice as the who's stopped Porscha Woodman Whickcliffe
from joining the Nights?

Speaker 6 (11:04):
What's the reason which she is an ambassador for the
upcoming World Cup for women. So what that means is
that classed with the season and WNRL season And I thought, word,
it's understandable. You don't want her clashing with her because
we miss half the season. It's one week. I've since
been in forman, it's one week. She is the biggest
name in women's rugby. She is an absolute bona fide superstar,

(11:28):
a hero. She would be so good for their brand,
but for one week they think it's untenable, so they
won't let her.

Speaker 2 (11:35):
Plays a bit silly.

Speaker 5 (11:37):
She knows cut face off?

Speaker 2 (11:39):
Is she fighting at all? What's she doing?

Speaker 6 (11:41):
Just just shrugging her shoulders. She's been a cruiser a Porsche.
Don't worry too much about it, but it does. It's
another case of the NRL making a really dumb decision around.

Speaker 5 (11:50):
His Siller participation.

Speaker 7 (11:52):
I don't believe they've done it.

Speaker 6 (11:54):
This is not just someone out of the backblock. This
is Porsche, a Woodman Wickliffe.

Speaker 2 (11:59):
Really, Darcy, we'll see you tonight. How you got on?

Speaker 6 (12:02):
I've got Lorie mains on because you know what today
or today give will take it? Twenty four hours No,
five years in South Africa left Super Rugby five years.

Speaker 7 (12:12):
Have we missed them?

Speaker 2 (12:13):
Are we celebrating that tonight?

Speaker 6 (12:14):
I'm not sure we'll find out from all we missed them?

Speaker 5 (12:18):
Do we miss them? Do they miss us? Does it
really anyway?

Speaker 6 (12:21):
That goes on and we're going live to Suzuka talked
to a Formula one Cory about what's going on over there.

Speaker 2 (12:28):
Brilliant, look forward to seeing it. Then, Darcy Wildgrave's sports
talk host on News Talk to B. He'll see at
seven tonight twenty two minutes after four My hot tips
for the markets yesterday? Well, was I right or was
I right?

Speaker 1 (12:40):
That's next getting the facts discarding the fluff. It's Ryan
Bridge on hither dup see Allen Drive with one New Zealand.
Let's get connected News TALKSB.

Speaker 2 (12:52):
News Talk said, Ryan, I've told you says, this text
the formula has nothing to do with GST. This is
Trump's tariff Like, how did he get twenty percent for
New Zealand that we are essentially charging them twenty percent
tariff rate and therefore they will charge us ten percent
back because he's so generous, He's only doing half. Ryan

(13:13):
I've told you says this text of the formula has
nothing to do with GST tariffs, non trade barriers. It's
just an Excel spreadsheet that calculated the trade deficit divided
by imports and then halved goods only, not services. So
and this is what you know some are writing about today.
The Wall Street Journal had a piece of saying exactly
the same thing, that it appears that that is how

(13:35):
they came to the calculation. But look, I do have
a small brain, But how are those two things related?
I mean, I know they're related, but how does one
How would you just because you have a trade deficit,
just because one country buys more stuff from another country,
how would that number or how should those numbers influence

(13:57):
the tariff that you charge them? And how can you
say that our essentially our tariffs on you are calculated
based on that amount too. Anyway, here's what the Prime
Minister had to say about all this today.

Speaker 8 (14:09):
Well, what it means is our export is into the
US are going to be hit with a ten percent
baseline tariff.

Speaker 9 (14:14):
There are other countries that have actually.

Speaker 8 (14:15):
Got higher tariffs, and that it may actually mean that
we've you know, we've got a better relative position going
into the US because all countries have been hit with a.

Speaker 2 (14:23):
Tariff there you go. Ryan Trump has shown himself to
be an out of touch boomer without any understanding of
supply chain logistics and his magafanbase are the same. There
is no way that even in one hundred years time,
that Apple could manufacture their phones in the United States
of America. The contemporary at the componentry and requirements to

(14:45):
make those phones has been built up over decades and
cannot be changed on the flip of a coin. Interestingly,
a lot of the chips come from Taiwan, and he's
put a was it thirty five percent let me grab
my number caller on Taiwan? Thirty two percent on Taiwan.
But apparently it excludes a lot of the componentry that
you would need. So there are some carveouts. Despite what

(15:08):
we thought going into this, we'll have more about that.
Actually was Sam Dickey from Fisher Funds after Sex is
going to break that down for us. Murray Olds out
of Australia. Next tier on News talks big.

Speaker 10 (15:19):
We can love.

Speaker 11 (15:20):
Of days that we know.

Speaker 12 (15:24):
We can go forever till we've.

Speaker 1 (15:26):
Listed it out, putting the challenging questions to the people.
At the heart of the story, it's Ryan Bridge on
hither duper see Ellen Drive with one New Zealand, let's
get connected news talks.

Speaker 13 (15:41):
It'd be.

Speaker 2 (15:44):
Take Good afternoon. Twenty five away from five Tod McLay
on the show After five. We'll ask him how he's
calculating Trump's tariffs and his estimations. Also we'll get to
Murray Olds out of Australia in just a few moments.
The point is this is from a text to the
point is with Trump's tariff plan that it does make

(16:06):
zero sense. And that's the point with the formula, because
we're trying to work out why he's using the well,
what formula they are actually using to calculate how much
we're charging them. You're still trying to credit Trump with
some strategy he has none. His emotional response is you
sell me more than I sell you, so you must
be ripping me off. Twenty four away from five.

Speaker 1 (16:28):
It's the world wires on news dogs going.

Speaker 2 (16:32):
In the States. In the Senate, they voted to overturn
Trump's tariffs on Canada. The Democratic Senator Tim Kaine proposed
a resolution to cancel the emergency powers that Trump is
using to do this. You know, has Fenton All et cetera.
And four Republican senators broke ranks to get the resolution
through his main senator, Susan Collins. She was one of
the Republicans that broke ranks.

Speaker 14 (16:53):
The main economy he is integrated with Canada. The tariffs
sun Canada would be detrimental to many mean families.

Speaker 2 (17:05):
Anyway, It's not going to go anywhere because the Republicans
control the House. So now, Trump has put a ten
percent tariff on all goods from Australia except pharmaceuticals and
some critical minerals. He singled out Australia because of its
span on US beef is Elbow.

Speaker 15 (17:19):
President Trump referred to reciprocal tariffs. A reciprocal tariff would
be zero, not ten percent. The Administration's tariffs have no
basis in logic.

Speaker 2 (17:33):
There we go. Elbow sums it up. Finally this afternoon
to me, A straight German shepherd from California that was
rehomed in Alaska after the LA wildfires has decided to
embrace a more wild lifestyle. Jackie has escaped her new
owners and now living in a nearby forest. Animal control

(17:54):
has tried to retrieve Draggy by using traps baited with cheeseburgers.
So far, she's resisted temptation and stayed one step ahead
of them out there on her own.

Speaker 1 (18:06):
International correspondence with Ends and Eye Insurance Peace of mind
for New Zealand business.

Speaker 2 (18:12):
Murray Older is with US Australia correspondent Murray Good afternoon,
Hey mate. How you going?

Speaker 16 (18:16):
Yeah?

Speaker 17 (18:16):
Good?

Speaker 2 (18:17):
Thank you. So I thought I albo sum that up
quite well. Just doesn't make a lot of.

Speaker 13 (18:20):
Sense, makes no sense at all. I mean percent and
all Australian exports and every other country's exports into America
make those imports at their end, the imports that they
take from US and you and every other country around
the world just makes them ten percent more expensive. And
I'll give you the example. I mean, he's talking about
Australian beef exports to the United States worth three point

(18:43):
three billion dollars last week. Now I'm not a farmer,
but I did see a stat a couple of weeks back. Now,
Australia supplies almost fifty percent of the beef consumed in America.
Apparently now most of that goes into hamburgers, because apparently
the Australian beef sold into America is particularly lean, and
that's what they like so he says, oh, you know,

(19:06):
you're not allowing any beef imports from America to get
into Australia. But that's because we've got biosecurity rules you
half with, the same as New Zealand's got biosecurity rules.

Speaker 16 (19:15):
You can't have.

Speaker 13 (19:17):
Stuff coming in, agricultural products coming in that aren't one
hundred and one percent Reggie Didge in terms of biosecurity,
it's everything that this country stands for, same as New Zealand.
You can't have I mean, the risk of foot and mouth,
forget it, it's just not worth it. So he can
fulminate all he likes in waivers arms around the Orange
half with but under no circumstance. And this is both

(19:40):
sides of politics. Over here, Dutton is also backing Alban
easy and saying no way known we're going to compromise
on that. But naturally we're in an election campaign. So
Peter Dutton says, oh, you know the Prime Minister is
missing an action. Was the quote I heard today. Peter
Dutton might be better off Ryan having a look at
his own back bench because there's a bunch of nervous

(20:01):
now he's in there thinking Peter Dutton is driving the
campaign to this point straight down the toilet. They insisting
this is all anonymous and you know it leaks to
even the Murdoch Press over here, which is just absolutely
red hot for Peter Dutton. They are saying, Pete, come on,
so put out some policies. All we know so far
is about he's going to repeal a tax cut for

(20:24):
every Australian. They're going to need more than that between
now an election day.

Speaker 2 (20:27):
All right, Well he's got about a month now. One
hundred and fifty thousand livestock have died in Queensland's outback.
What's this about?

Speaker 13 (20:35):
Yeah, dreadful, dreadful, dreadful. Well, they've had so much rain
out in that it's called the Channel Country. It's way
out west in western Queensland. You know, it's very popular
of course with the gray nomads who crisscross the country,
you know, year round. It's a beautiful country out there.
Apparently I've never been there. Oh no, I have been

(20:56):
to long reach of beg your pardon, but I'm talking
beyond long read. So there are these channels that have
been there for millennia and whenever it rains, these channels
feed down through the very complex river systems that they've
got out there. The thing is, it's so flat, it
basically just sits there. It trickles out. You're going to

(21:18):
have Lake Air full for the first time they reckon
in over half a century. That's how much rain has
been And apparently that is the most magnificent site you'll
see in your life. There are water birds coming from
all over Asia, all over Australia to go to Lake Air.
All the most beautiful carpets of flowers that pop up.
But it's terrible for producers. Beat producers, Goats, sheep, horses,

(21:41):
all manner of livestock are gone.

Speaker 17 (21:43):
You've got.

Speaker 13 (21:47):
The stat I saw twenty nineteen. There was a huge
flooding disaster up there. In that flood in twenty nineteen,
they lost six hundred and fifty thousand head of livestock
and that costs two billion dollars. So it's not on
that scale, but boy boy, it's the last thing they want.
The poor buggers are doing it really really tough out there,
and now they've lost all their livestock. Roads are watched away,

(22:08):
fences are gone. The repair bill is going to be enormous.

Speaker 2 (22:11):
Yeah, it is tough for them. Murray, thank you for that. Murray.
Old's are Australia correspondent. Nineteen away from five. Now the
Labor Party made such a song and dance. Well, I
mean all parties in opposition did about the Treaty Principal's
Bill when it was first proposed by the Act Party
and the Government said you will look at it for
a first reading and nothing beyond that. They said, that
is outrageous. This is going to be one of the

(22:33):
most divisive, hate filled, nasty pieces of legislation that's ever
come before this Parliament. And we don't want a bar
of it. Vote it down. And here we are. They've
they've had the submissions and they are wanting to report
back early so that they can vote the thing down

(22:55):
early so they can get it out of the Parliament.
And Labour's not happy. They want the process extended, don't
can We will explain that after five?

Speaker 1 (23:03):
Very next Politics with centrics credit check your customers and
get payment certainty.

Speaker 2 (23:08):
Very Soper, Senior political correspondent with us. Very good evening,
good even afternoon.

Speaker 5 (23:13):
When I was looking dark.

Speaker 2 (23:14):
Now it doesn't it because it's a terrible day, terrible
Whether it really does feel like things that are. And
of course the storm clouds are gathering on the trade
front too.

Speaker 7 (23:24):
Absolutely, do you know I was thinking today, Ryan about
trade and where the world's come from.

Speaker 16 (23:29):
Now.

Speaker 7 (23:30):
I remember, before your time. It was in nineteen ninety
four I went to Bogor in Indonesia. Your older listeners
will remember it, and the APEC leaders they signed up
to what they said were common goals of free and
open trade and investment by two thy and ten for
industrialized countries in twenty twenty for developing economies. You won't

(23:55):
remember this, but I said on radio at the time
it'll never happen. It can happen because most of the leaders,
while all of them but one would be gone by
the time any of these dates were realized. And the
one who would be less left was the Sultan of Brunei,
And from my knowledge, I think he's still there, but
the rest of them have gone. Bill Clinton was in

(24:17):
office for the US. Jim Bolger we were traveling with
him and Paul Keating from Australia, who once called me
a maggot and told his mind is to get me
away from him. But well it was a blowfly fly.
Actually it wasn't a magot, and you know it attracts blowflies.
As I commented after he made the remark, But when

(24:39):
you look at the ten percent tariff, now it's not
as high as some were feeling. But that's not a
good thing, because a tariff is a tariff. And I
can't understand why Donald Trump would ever think that by
imposing tariff's unilaterally, that it's going to make America a

(25:00):
your country. That may happen over decades, but it's not
going to happen overnight. All the cars now are made
outside Mexico and Canada make the cars for America. They
do assemble them in America, but they'll all go up
because of the steel and what have you. It's it's
just incredible, and that I know. All the boffins and

(25:21):
the beehive were gathered around today to watch Trump make
this announcement and they couldn't understand the figure that he
used that New Zealand ter on there.

Speaker 2 (25:33):
People have been trying to unpick that number all day. Barry,
we'll give it a go over Tom McLay after five.
But interesting, yeah, he says, it was interesting listening to
him talk about war. I mean, he says we need
to be strong and we need to have the manufacturing
base should we be at war.

Speaker 7 (25:49):
Yeah, you know, so what does that tell you about
his psyche? Well, and about America that if there was
a war, America would be well, it would be anyway.

Speaker 2 (25:59):
But it's in there sort of. But I was thinking,
isn't that sort of what we want them to be thinking?
Like because like it or though that China's coming, right,
So if they're not thinking about how they might be
on a war footing, then who is I.

Speaker 7 (26:13):
Hope we're not thinking about war?

Speaker 2 (26:15):
Well, I mean I hope we're not.

Speaker 7 (26:16):
I lived through the Cold War and it was fantastic that.
I don't think anybody's failed as safe. And I'm a
baby boomer of course, as as Donald Trump, as is
Winston Peters.

Speaker 2 (26:26):
I mean, you could argue we're in a cold war
right now.

Speaker 7 (26:28):
Well you could, yeah, although it's.

Speaker 2 (26:30):
Anyway, we're getting a bit off track here. The Treaty's
Treaty Principal's Bill is going to be reported back tomorrow. Berry.

Speaker 7 (26:36):
Now you said it all really that Labour's Justice spokesman Duncan.

Speaker 5 (26:41):
I know you're going to have them on here.

Speaker 7 (26:43):
They were they were screaming about this bill being wasted
time on through the parliamentary process. They all to a
person and the Labor Party said it was a disgrace.
The government was wasting parliamentary time. Yeah, dangerous, it was
creating danger. And here's Dunk and Webb now saying it
should have been extended.

Speaker 5 (27:04):
We should have. They've they've had.

Speaker 7 (27:06):
Three hundred submissions to this bill. Ninety five percent of
them are opposed to it. Can you expect to Select
Committee to sit there day after day after day listening
to the same opposition to the bill? They closed it
off at one hundred and fifty submissions. Now the bill
will be back in Parliament tomorrow. Parliament's not sitting, of course,

(27:27):
but it can report a bill back and next week
it's expected people around the beehive that I've talked to today
that it'll be gone by next week.

Speaker 5 (27:37):
There will be a vote.

Speaker 7 (27:38):
The interesting thing to me is are you going to
see a repeat performance by the Maldi Party and the Hucker.

Speaker 2 (27:45):
No, I'm sure you will. Hrey Audrey Young had some
good advice for them. When they do do it, wait
till the vote's finished.

Speaker 16 (27:50):
A show.

Speaker 7 (27:52):
Everybody that you know it's sacrilegious to interrupt the debate,
right right, Mara Pardi don't know the rules clearly of.

Speaker 2 (27:59):
Parliament's speaking of and the Greens. You've got a final
note on these two, Barry.

Speaker 7 (28:03):
Well, look I was going to go on like a
crack record about profit today and the Greens came up again,
it came up. But I'm not I'm not running anything.
Don't worry about that. Chloe Swarbrick, Madam and Davidson. They've
been banging on about it for ages now and now
we see Riccardo Mendendez Menendez. Now this is ants our

(28:25):
technical producer said, Barry was mispronounced this Menendez.

Speaker 2 (28:29):
I never want to interrupt your flow. I never said
anything but.

Speaker 7 (28:34):
Yes, exactly. Well, he today banged on about profit and
that's businesses that run GPS organizations, you know practices. He said,
why should they make a profit? Hello? But anyway, the
other thing was that you know the Maori Party, what
will the Privileges Committee do with them? Well, what they

(28:56):
can do, and I think the Maldi Party painted themselves
into a corner. I think they've made it very difficult
for the Privileges Committee to be anything but hard on them.
What they can do is they can have their pay
breached between three hundred and four hundred dollars a day,
depending on their salary. Of course, there's if there's no

(29:16):
appearance with the committee, the suspension, they can be suspended
from Parliament. It's going it'll probably be longer, so they
could be out on the outside looking in. And it's
taken as red that they won't apologize for the hucker
that they made. So the whole Privileges Committee that White

(29:37):
Tea called silly or meaningless, I'm sorry he might find
they do have some meaning.

Speaker 2 (29:42):
Yeah, absolutely, Barry, thank you very much for that. Barry Soper,
senior political correspondent here at News Talks, said, be we
will get to Todd McLay after five. We will get
to Duncan Web as well on both of those issues.
Coming up next. A little bit for you on gold
and a little bit for you out of Cay Colda
on the whale that it helped. Unfortunately think a vessel
there a couple of years ago. We've had a Taiic

(30:05):
report on that.

Speaker 1 (30:06):
Putting the tough questions to the newspeakers, the Mic Hosking Breakfast.

Speaker 2 (30:10):
Donald Trump a reasons that allude me.

Speaker 18 (30:12):
He doesn't understand terrafs start Mouth Economics Professor Douglas zeroanshether.
I don't know if you realize this, Douglas. In nineteen eighty
two eighty three, we became free traders. We're there colonys
of free trade in the world building and so we
just don't get this. This is economic insanity. How does
it get explained to the American people?

Speaker 19 (30:26):
Well, I think they're going to feel it very soon
in their pocketbook.

Speaker 9 (30:28):
We talked about Liberation Days.

Speaker 19 (30:30):
Some other people are calling it watch your wallet, Dame.
With twenty five percent tariffs on cars, that's going to
push up the face of new cars and used cars
Alake let alone, the steel and the parts involved as well,
and so it's not going to sort of reindustrialize America
the way the President wants.

Speaker 20 (30:43):
It's just going to cost Americans a lot back.

Speaker 18 (30:45):
Tomorrow at six am, the Mic Hosking Breakfast with the
Rain Drover, THELA News Talk.

Speaker 2 (30:50):
ZB five away from five. You might remember this really
sad case out of Cay Colda was five people who
lost their lives. It was a charter boat. They were
bird watching and struck a whale and then capsized while
they were on this trip, so sadly, five people lost
their lives. Today we've had the Transport Accident Investigation Commission
report and a couple of things come to we'll stick out.

(31:14):
One is the EPERB. The locator beacon for want of
a better term, was in the right place on the boat,
and it was working and it was the right size,
and everything was good. But once you're capsized, you know,
once you're upside down, you can't get to it. So
they are recommending that each crew member on a passenger

(31:34):
vessel should have to carry a located beacon at all times,
you know, if you're taking terrists out, so that if
there will be more chance that there will be more
people with one who might be on the outside of
an upturned vessel, and that would help. The other thing
was the life jackets. There were people, sadly, who were
trapped in ear pockets underneath the upturned vessel. They're unsure

(31:54):
exactly obviously what happened to them, But the idea of
a life jacket is obviously a good thing because it
keeps you afloat. But if you're in that particular situation,
then obviously you want to get it off so that
you can dive under and get out. So they just
are talking about did we have enough education for people
around life jackets and how you should potentially deal with

(32:16):
a situation like that. It has just gone four minutes
away from five.

Speaker 20 (32:20):
Ryan Bridge.

Speaker 2 (32:21):
Now, if you were listening yesterday, I see go and
buy gold. In fact, we've been saying this for ages now,
haven't we haven't we ant go and buy gold, Go
and buy some European stocks, get out of America, and
in particular, go and invest in some defense stocks in Europe.
You know, if you're into a bit of German arms dealing,
then why not. Anyway, Gold three and thirty six dollars

(32:44):
way above the three thousand we reported just a couple
of weeks ago. Todd McClay.

Speaker 21 (32:48):
Past performance does not guarantee picture performance. This is not
lost up financial advice.

Speaker 2 (32:52):
Quite right, and thank you Todd McLay, the Trade Minister.

Speaker 12 (32:55):
Up next.

Speaker 1 (33:11):
Questions, answers, facts, analysis, the drive show you trust for
the full picture? Brian Bridge on hither duplicy Ellen drive
with one New Zealand let's get connected.

Speaker 20 (33:23):
News talks 'b.

Speaker 2 (33:24):
Good evening, it is seven after five. News talks 'b
just gone every Well, it's Thursday, the third of April.
Great to have your company ten percent. That's the teriff
right that Trump's slapping on KeyWe ex sports stateside. It'll
affect the nine billion dollars worth of goods that we're
seeing that as our second largest market for goods. Of course,
there are indirect consequences as well through our Asian partners.

(33:45):
But right now we're going to the Trade Minister Tom McLay.

Speaker 20 (33:47):
Good evening, Minister Ryan, good afternoon.

Speaker 2 (33:50):
Good to have you on the show. So I know
you're going to go back and question this number in Washington.
Have you had any update from that?

Speaker 16 (33:58):
Do you mean the twenty percent?

Speaker 2 (34:00):
Yeah?

Speaker 22 (34:01):
Yeah, So what they've done is when President Trump put
up the comparison all the countries that showed that New
Zealand's tariff rates for exports from the US and New
Zealand's twenty percent and therefore the ten percent tariff levied
on us.

Speaker 16 (34:14):
They have published some more information.

Speaker 22 (34:16):
Of course, it's nighttime there, so our officials will get
into it first thing when they're away. It looks like
what they've done is they've taken the amount that we
export to them minus the amount that they export to us.
There's a twenty percent difference, and they've just said, well,
that's the difference in the tariff rate, which is not
our tariff rate for a US selling into New Zealand
on average is one point nine percent. We face about

(34:38):
two point two percent up there. But we'll be discussing
that with them tomorrow and providing some clarity. Irrespective of that,
the lowest tariff rate they are putting on anybody in
the world is ten percent across the board, So even
if we move that number around, it's not clear that
we would fall below ten percent Australia. Many other countries
are in the same same category as we are. Although

(35:01):
compared to I suppose the Europeans that are facing a
thirty four percent tariff rate is challenging as this is
for our exporters, they are no worse off when it
comes to competing its other exports to the US as
a result of this, Yeah.

Speaker 2 (35:14):
Would you call it the best case scenario in a way?

Speaker 22 (35:17):
It's Look, it's much better than many countries most certainly.
But teriff rates put on New Zealand exports is not
a good thing.

Speaker 2 (35:25):
Number that's wrong, isn't it.

Speaker 22 (35:28):
So it is wrong and it is wrong. And as
far as that is not the tariff rates we put
in place. I think the highest tariff rate we have
on anything that the US can send to US is
about five percent. But it looks like they've used a
different type of calculation as to balance of trade as
opposed to tariff rate for some reason.

Speaker 2 (35:45):
But they clearly said on that. You know the chart
that Trump held up said New Zealand that the rate
that America is charged teriff rate. Charge That is wrong,
isn't it.

Speaker 16 (35:57):
That's that is not correct.

Speaker 5 (35:58):
That's right.

Speaker 22 (35:59):
The average the average rate that US pays on experts
in New Zealand is one point nine percent.

Speaker 2 (36:05):
So why are they using this weird calculation on the
trade deficit and then you know somehow relating that to
a terif rate.

Speaker 22 (36:15):
Yeah, it's really not clear, and that those would be
one of the things that we're asking officials to sort
of clarify and discuss.

Speaker 16 (36:22):
With the US.

Speaker 22 (36:23):
I mean, at the one level, what they are probably
saying as the USS two trillion dollar trade deficit, we
want people around the world to buy more from US.
In fact, in the New Zealand economy, the tariff rates
are low. There are no restrictions as to what you
can sell to New Zealand from the US or many
other countries, and so we don't have those barriers. What
they've also said, though, is I suppose is that there

(36:46):
are a group of countries where we put ten percent
on that's the minimum that anybody has. These are countries
we are not as worried about, or were worry less about.

Speaker 16 (36:54):
Their focus is.

Speaker 22 (36:55):
On Canada and the European Union, in China and many
other countries of the world, where it ranges from twenty
percent I think over forty percent in some cases. And
so you know, as you said earlier, the rates of
New Zealand has applied against us, are you know, better
than many although a ten percent is still going to
be challenging from some of our exports up into that market.

Speaker 2 (37:14):
Have you had just finy, Have you had any update,
because I know your officials are working on trying to
let you know what the economic impact of all of
this might be. Now that we have numbers, Do you
have a number?

Speaker 22 (37:24):
So they're working through that very very quickly for us,
because although they did a bit of modeling, of course
I had to wait and see exactly what it'd been.
So what we see is ten percent across our nine
billion dollars exports is nine hundred million dollars. But interestingly,
a lot of this is going to be passed on
to their consumers. You take the wine that we sell there,
it'll be ten percent more expensive European wine thirty four

(37:47):
percent more expensive. They may consumer less or they may
end up just paying more. And so you know, what
we do know is tariff rates are inflation, can be inflation. Really,
they do put up costs for consumers. It's one of
the reasons that we've been very clear today we're not
going to retaliate because that would just put up costs
on New Zealand exporters and drive inflation.

Speaker 20 (38:06):
We won't be doing that us.

Speaker 2 (38:07):
We can't. I mean, we're the small trading nation that could.
We can't exactly start and whacking people with terrorists. Can
well appreciate your time trading is to just go on
twelve minutes after five. Bridge Labor's not happy. The Justice
Select Committee has finished work on the Treaty Principal's Bill
a month early. It's apparently going to deliver its report tomorrow.
It means some submissions will be left on the cutting

(38:28):
room floor because staff haven't got time to read the bill,
read them all. I should say, Duncan Websterey just a
spokesperson with me tonight. Hi, Duncan.

Speaker 23 (38:36):
Good to be here.

Speaker 2 (38:38):
So first you said this is the most dangerous debate
we could be having. Now you want it to go longer.

Speaker 23 (38:44):
Well, look, if we're going to have it, I think
parliamentary process doing things right is so important. I don't
like this bill, I hate it. I want it gone.
But if we're going to invite people to have the
essay there's actually that's the critically important thing, then we
should give them that full opportunity. And I saw boxes

(39:05):
of submissions that hadn't been processed that no one had
the opportunity to read unless they went and rifled through
the boxes themselves, like I did before we reported back
to the house, and we still got five weeks on
the clock. We didn't have to have it reported back
at all.

Speaker 2 (39:20):
Yeah, but why do you want it to go on
for so much longer? If it's so dangerous and divisive?
I don't understand. Wouldn't you want this thing to be
wrapped up and done and dusted and out of everyone's hair?

Speaker 23 (39:29):
Well, because when I went down and looked at those
submissions that hadn't yet been processed. There were handwritten submissions
from old people. There were intermediate schools with colored drawings.

Speaker 2 (39:40):
Now they so is it dangerous or not? That doesn't
sound very dangerous to me. That sounds actually quite healthy.
That sounds like a democracy. Were you wrong to begin with?

Speaker 23 (39:48):
Duncan at least get the distinction right? I believe in democracy,
which means.

Speaker 2 (39:55):
That everyone you did when this process started, did you
because you said it shouldn't have happened.

Speaker 23 (40:00):
The bill should not have happened. The bill is divisive,
so it was really irresponsible. It was irresponsible to introduce it.
But once you start the parliamentary train rolling, you don't
stop it halfway down the track. You let it run
its course.

Speaker 17 (40:15):
And what what.

Speaker 23 (40:15):
The government parties have done here is they really don't
like well the National Party doesn't like it as well.
They're deeply embarrassed by it, so they want to move
it along. But people deserve the essay. Look, there was
twenty thousand Hobson's pledge. It's hard missions in there, and
then they deserve to have the essay as much as they.

Speaker 2 (40:33):
Them since pledge. So you don't know if you're Arthur
or Martha Duncan. One minute it is dangerous. The next
minute you're wanting to read Hobson's pledge.

Speaker 23 (40:43):
I want every I want everyone in New Zealand to
be given a fair crack and a fairsay, all right now,
and even if I despise their views, and that's a
really important value democracy.

Speaker 2 (40:56):
Is what number have we called? Is this the same Duncan?

Speaker 16 (40:59):
The web?

Speaker 2 (41:00):
Appreciate it, appreciate you?

Speaker 23 (41:02):
Thanks, all right, okay, just.

Speaker 2 (41:04):
A spokesperson for the Labor Party. It's called a past
five in Auckland. So this is interesting. The public transport
emissions in Auckland. Remember the council was crying about this
a couple of months ago. They were saying, we want
to bring the cost, bring the emissions down by five
percent five percent decrease. That is our goal for public

(41:24):
transport emissions in Auckland. And now it turns out they're
dropping the target. Why because there is a lack of
reliability in verifying public transport operational emissions. In other words,
they can't measure it, which begs the question why they
make a goal they couldn't measure seems pretty dumb, right Northland? Next,

(41:47):
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(42:09):
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(42:30):
you'll leave as a friend. Your island paradise isn't even
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Nuey Bryan Bridge. Speaking of beautiful destinations Northland, it doesn't
get much better than that. And they want a regional
deal off the government and they want this because they

(42:50):
say it will boost their economy by a billion dollars.
One of the things they're asking for, and I don't
think know whether this is something you ask for or
whether it's something that's bestowed upon you, but anyway, they
are asked for the very own great walk, joining the
existing eleven around the country. The co owner of the
Duke of Marlborough Hotel is Ricky Kinnerd. He's loved me tonight.
It's the jewel in the Crown of north and Ricky.

Speaker 10 (43:11):
Good evening, Good evening, Ryan. Good to hear from you again.

Speaker 2 (43:15):
Yeah, good to have you on the show. So where
would this great walk be is? What's the location?

Speaker 10 (43:23):
So it's a loop track. Now there's been a lot
of work to get pieces of land joined up from
Elliott's Beach to Cape Brett where the light as is
overlooking the whales and the hole in the rock and
back again. So the tentative design is about a two
D twenty six seven ks.

Speaker 2 (43:43):
Right, and do you is this something that you request
as part of a regional deal or is this something
that DOC would have to make a determination on How
does that work?

Speaker 10 (43:52):
Yeah, there's there's a couple of layers here. So the
pressure for DOC is why wouldn't you have one up
in the north and actually complementary to the existing suite
obviously the South Islander, but for goodness sake, it's about
time to bring it up north with different options and
history and heritage. So we need a bit of support
there to get it on the list. But after the

(44:14):
last forty years of building relationships and it's tapu led
so it's very very important lands being banked and put
into the pot. So we're at the time is now
to bring it all together and provide an offering the
suits and complimentary to that suite of walks. It's good,
need a bit of pressure from the top.

Speaker 2 (44:32):
You also need four lanes to play at a Yeah,
make life a lot.

Speaker 10 (44:39):
Well, I'll tell you what the you know, we're not
the poor customs that I've seen. Some third worlds are
the worst. But you sort of go, we need all
these building box to unlock the potential and for.

Speaker 2 (44:50):
The great walk.

Speaker 10 (44:51):
Apart from being awesome and medine standing under the stars
in the corner of the Polynesian triangle. Who pays it
targeted and started is never going to shoot Juney, you know,
been part of their history and hereage is immense, but
it's a piece in the puzzle. And once you unlock
that in a sympathetic way, which flits our destination plan

(45:12):
not overpopulated those lanes that Rafay can turn back and
have hopkins to turn back into market gardens that feed
our people. And we're talking about the next one hundred years.
So four lanes is an important part of us. But
there's all of these productivity areas where you go. If
we can get that done, there'll be three, four or
five hundred real jobs that you can catnate over the

(45:32):
next hundred years ago an infrastructure ecosystem, and it.

Speaker 2 (45:36):
All starts now, and it all starts with a regional deal. Ricky,
thank you very much for that. Ricky Kennedy who's with us.
He's the co owner of the Duke of Marlborough Hotel.
Got married at the Duke of Marlboro. If you haven't been,
it's a like political, cultural little gem of New Zealand.
Russell go and visit. It's twenty two and that is
the jewel in the crown twenty two minutes after five
news talks. There be coming up next. Dog attacks. Have

(45:59):
you known noticed how many dogs are attacking not just
people but other dogs in this country. The numbers for you.

Speaker 1 (46:07):
Checking the point of the story, it's Ryan Bridgejohn Heather
dupless Ellen drive with one New Zealand let's get connected
and use dogs.

Speaker 2 (46:16):
That'd be five twenty five. Good evening to you. Have
you seen all the stories in the news lately about
dog attacks. It's really quite concerning. So a couple of things.
People have died. There was that poor wee boy up north,
the woman who was hanging or washing out in Northland,
the two seriously hurt in Monny Day. Well that's all
in the last couple of months. We interviewed a local

(46:37):
from Typer Bay in December who said that people should
bring a weapon to the beach to scare the dogs off.
Here's the numbers. I couldn't quite believe this. Twenty eight
thousand injuries from dogs last year. That's up three thousand
kids under the age of fifteen injured. That's up to
some of these will be usually harmless family poochers on

(46:58):
a bad day with kids getting caught in crossfire. But
according to aalking council, there are a couple of culprits,
the American football terriers, the staff's and the mastiffs. I
know there will be people who are good owners and
responsible owners, but should these breeds really be allowed in society?
If your dog takes a chunk out of some kid's

(47:18):
arm or leg or face, then it can be put down.
But if some breeds are doing this more than others
and more kids are getting hurt, aren't we just allowing
it to keep happening. Should we be surprised that it
keeps happening and that it's increasing. Then there's the desexing problem.
People aren't doing it, so they drop litters of puppies

(47:38):
to dog control. Then dog control is overwhelmed, so they
have to put the puppies down. They euthanize puppies. In Hamilton,
they've had one hundred puppies. Just think about this, one
hundred puppies under four weeks old in three months. And
the other day they got the veteran. Over the space

(48:00):
of a morning, they had to put twenty five down mentionine.
The poor staff putting down twenty five puppies. Owning a
dog should be a privilege and not a right. And
we've got to ask ourselves, surely, if your dog's at
risk of biting or taking a chunk out of someone,
or you're not taking care of their litter, do you

(48:21):
deserve that privilege? Ryan Bridge five twenty seven Newsbooks. There'd
be King Salmon our New Zealand King Salmon. They export
a lot. They got a lot of things to say
about Trump and his terras. That's next.

Speaker 1 (48:51):
After making the news, the newsmakers talk to Ryan first.
It's Ryan Bridge on Hither duplessy Ellen Drive with one News.
Let's get connected news Talks.

Speaker 5 (49:02):
They'd be.

Speaker 2 (49:12):
Twenty five away from the six News Talks. They'd be
great to have your company.

Speaker 5 (49:15):
We'll get to the.

Speaker 2 (49:16):
UK before the end of the show at seven. Just
before we do get to zed King Salmon, because I
want to ask them about the tariffs and what effect
you could have as an exporter, big exporter. But just
a little note on Elon Musk. So obviously he's in
the White House, he's a special advisor and he's there
for Trump and Doze and whatnot. And then there was

(49:36):
this report in Politico, and a lot of people say, oh, well,
the Republicans want Elon must there because he's cutting the coasts,
et cetera. The people who don't want Elon Musk in
the White House is any investors in any of his businesses,
because the more that he's there, the more tainted his
businesses get. And we've had Tesler quarterly sales data out
today down thirteen percent on a year ago. That's three

(49:58):
hundred and thirty six thousand new. It's versus the three
hundred and ninety six thousand that analysts had expected. So
the shares fall on those numbers coming out, right, and
then this report comes out that he is going to
be leaving the White House role to return to his company.
Shares jump five percent after that Politico report, and that
just tells you that the investors don't want him. Well

(50:18):
one distracted, but also shooting from the hap on politics
and then doing brand damage to Tesla twenty three away
from six Ryan Bridge. So ten percent, that's the tariff
we're going to have to pay, and that's on our
nine million dollars of exports to the United States. The
minister says it would cost our guests on those numbers
around nine hundred million dollars plus, there's the flow on

(50:42):
effects from a potential globalized trade war and what that
could mean for some of our businesses. Nzig King, Sam
and CEO Carl Carrington's with me tonight. Hi Carl, how
are you?

Speaker 17 (50:53):
Yeah?

Speaker 2 (50:53):
Good? Thanks? Good to have you back on the show.
What does this mean for your business?

Speaker 17 (50:59):
Well, to be honest, I don't think it means very much.
We sell most of our volume to the USA through
premium food service, so very high end restaurants and very
high end retail, so I think we have to some
degree some protection as the consumers and those channels tend

(51:19):
to have a lot more discretionary spending power. But we're
just working through what it will mean for our customers
over the coming weeks as it's sort of all unfolds.
But we don't foresee that it's going to have an
impact on our margins in the USA, because after all,
this is really a tax on USA consumers and hopefully

(51:43):
they get some tax relief coming over the hill fairly
shortly so the US though it is forty percent of
our business, so it's about eighty five million million dollars
in export revenue, so you know, will be keeping a
close sie on it. But to the extent there's any
reduction in demand, we're simply going to divert those volumes

(52:07):
to other strategic growth markets. So for US, that will
mean Australia and China, and we might be able to
do a little bit more with New Zealand retail partners
as well. But we're a little bit unique, i think,
compared to other New Zealand primary producers, and so far
as we don't have a global demand challenge. Rather we're

(52:29):
constrained by supply. So to be very clear about that,
we have a lack of supply, So any pold that
falls out of the USA, we'll be able to place
elsewhere in pretty short order.

Speaker 2 (52:42):
You did sound quite confident. You sound quite calm for
a guy who's got forty percent of his business going
to the States.

Speaker 17 (52:48):
But I'm not losing any sleep favorite but hopefully I'm
not being naive about it.

Speaker 2 (52:55):
But the fact it's a premium product that's the key
to this, isn't it. Because if you were selling you know,
lineback biscuits into supermarkets, you'd be a bit more worrying.

Speaker 17 (53:05):
If I was on that segment. I would be yeah,
I'll have a different disposition. But you know, dank salmon
is really only farmed in New Zealand. There's a little
bit of supply from in the USA, but you and
I would eat more salmon than they produce. So it's
really we are protected in that it is the wagu

(53:27):
of the sea. It's the most premium of the salmon species,
so that does give us a bit of protection.

Speaker 2 (53:34):
Really appreciate your time, Carl. Good to have you back
on the show. And let's hope you can get growing
to meet that rising demand soon. Carl Carrington. I know
we've spoken about ways you want to do that. Carl
Carrington ends in King Salmon's CEO here on news Talks.

Speaker 1 (53:46):
Here'b just gone the huddle with New Zealand Southeby's International Realty.
The ones with worldwide connections that perform, not promise.

Speaker 2 (53:54):
Someone says Ryan, you kept saying the number, the amount
we need to pay. Isn't it the US import waters
that pay We may just sell this. Yes, you're quite right.
There was at the tongue from me Connor, English director
at Wellington government relations firm silver Rio is with me
on the huddles Night along with Mark Sainsbury broadcaster. Good
evening guys, get a good to be here. Oh there

(54:17):
you go, Mark, you'd muted yourself with the beautiful checkbones
your back there We are all right, says what do
you make of Donald Trump and his and his announcement today?
Would you were you expecting worse? Always muted himself again? Apparently, Connor,
let's go with the safe option here. What do you
make of it?

Speaker 24 (54:37):
Well, go, I'm fascinated by it, and I know it's
not positive for New zeal because we have the direct
impact of ten percent on you know, that eight or
nine billion dollars of goods we've got going over there.
But there'll be secondary effects, you know, through change and
trade flows and you know, commodity prices and interest rates,
next change rates, and some of those will be positive,

(54:58):
some of those will be negative. But the the thing
that fascinates me, Ryan is just the big picture here.
And I can't help but thinking that what the American
administration is trying to do is a bit of a
tax swap where they're looking to go from income and
company texts. They wanting to lower that and they're wanting to.

Speaker 16 (55:13):
Get revenue from.

Speaker 24 (55:16):
Tariffs and also selling what they're calling the gold Card
visa to balance their books and you know, try and
protect jobs in their domestic market at the same time.
So you know, they've done it before in the nineteen thirties.
It didn't work out so well, So we'll see what
happens this time.

Speaker 2 (55:34):
No, you're on the money. I mean, that's exactly what
Trump was saying today, wasn't it. He said, why are
we paying you know, why are our workers? And he
had all the union and workers in front of it.
Why are we paying personal income tax? And we could
have the rest of the world paying it for us?
So Mark, what did you, Mark? What did you make about?

Speaker 25 (55:50):
Look at I mean, kind's quite right.

Speaker 26 (55:52):
The Smooth Hawly Terariffact nineteen thirty they brought in twenty
twenty five percent tariffs.

Speaker 25 (55:57):
It worsened the depression that caused.

Speaker 2 (56:04):
Mark from mute again, it's.

Speaker 25 (56:07):
My bony it's my bony ear. Keep getting them on
the sorry about but yeah, they went through this before.
It's it's where is it? And the thing is everyone
just accepts it.

Speaker 27 (56:19):
It's just it's sort of the world ruled by Trump
and everyone's just looking I mean, I really worry about
the you know, the world economics sort of you know situation.

Speaker 25 (56:29):
Are we now expected to bankroll the US? It seems
to be. I think Connor's quite right, that's what that's
what Trump is trying to do. But the impacts and
some of.

Speaker 2 (56:39):
The stuff is just mad.

Speaker 26 (56:40):
The herd and McDonald Islands in their tax list, they're
getting tax ten percent.

Speaker 25 (56:45):
Do you know who lives on the herd and McDonald Islands?
No one, the Macaroni penguin.

Speaker 2 (56:52):
What are they explorting? It's interesting. The other thing he
was talking about Connor today was the he mentioned war
a couple of times, and it's this idea that you
need to be a you need to have a strong
manufacturing base, should you need to be on a war footing.
You need to be able to make your own medicines,

(57:13):
you need you can't be beholden to anyone. You need
to be able to make your own weapons, all this
kind of stuff. So is that part of the strategy.
I mean, I think it is probably part of the
strategy too.

Speaker 10 (57:23):
Yeah.

Speaker 24 (57:23):
Yeah, well, I think if you if you go back
in time, you know, self sufficiency was very definitely a
policy objective that a lot of country had post of
wars that we've had over the last few centuries because
there was risks of particularly you know, on food security
as well as your ability to produce stuff. So yeah,
he is obviously moving away from the sort of theory

(57:45):
of comparative advantage where you trade with people who can
do a better job than what you can and then
you sell them what you can do a better job
than them. And so he's moving away from that sort
of framework, but I think he's still going to be
doing a lot of trading. And the challenge, well, the
challenge that they had and back in ninety three with
a smooth horly law is of course imports went down

(58:06):
from about three to one billion, and you think, okay,
that's really good for you know, jobs in America. But
the trouble was other countries diverted their purchase decisions to
away from the US, and their exports went down from
you know, six billion to a couple of billion, and
their GDP haved and you know, unemployment went from eight
percent to twenty five percent in three years. So you know,

(58:29):
it's it's like old Mike Tyson says, you know, everyone's
got a plan and to get punched in the face
and Donald Trump's He's thrown his punch and we'll see
what comes back.

Speaker 2 (58:39):
Yeah. Well, vonder Lane's lining up, hasn't she. She's she's
got a big fist ready, Right, we'll go back to
you guys in just a second. Connor English and Mark
Sainsbury on the huddle.

Speaker 1 (58:49):
The huddle with New Zealand southe Beast International Realty achieve
extraordinary results with unparallel reach.

Speaker 2 (58:55):
Connor English and Mark Sainsbury on the huddle tonight, twelve
minutes away from six Saints are So the Treaty Bill.
The Select Committee that's looking into the Treaty Bill, they're
going to report back a month early, but it means
that they won't be able to read all the submissions
that were made. And the opposition, remember they said, oh,
it's such a dangerous debate, we shouldn't be having it.
Now they're saying, actually, we should be extending it. Well,

(59:17):
what do you make of this? What's going on here?

Speaker 11 (59:19):
Oh?

Speaker 26 (59:20):
Look, I mean does Christopher Luxan sit there and think
I wish we'd never done this.

Speaker 2 (59:25):
I mean it's a lose lose.

Speaker 25 (59:27):
They caught all the flat for allowing the Treaty.

Speaker 26 (59:29):
Principle's Bill to be introduced to begin with, and the
ghetto out of jail thing was no, no, but it's
not to go any further. But now they've opened up
Pandora's box and saying, well, we don't want to look
at exactly how many people are actually antyet, because that's
what you suspect that the bulk of the submissions might
have been against the bill.

Speaker 16 (59:46):
It's not a great look.

Speaker 26 (59:47):
The whole thing I think was all thought out from
the beginning and was probably totally unnecessary.

Speaker 25 (59:53):
It's just a joke.

Speaker 2 (59:55):
It is a bit, but it's I mean as well.
Chris Lux's point, Connor is that that's the price of MMP.

Speaker 24 (01:00:03):
Well yeah, and I mean we have got a democracy
and different parties have different policies and they do different
deals and coalition agreements to progress those policies, and this
is the outcome of a deal that was done on
one such policy. So I don't think anyone should be
surprised that there's been a bill put through Parliament that
some people disagree with and others agree with it.

Speaker 5 (01:00:26):
I mean, that's nothing new, is it, No?

Speaker 2 (01:00:28):
I suppose not. I guess the interesting part about this
is that one side said we shouldn't be having the debate,
and now they're saying we should be extending it. I
mean just seems a little.

Speaker 17 (01:00:39):
Yeah.

Speaker 24 (01:00:40):
Yeah, but you know, there's been all sorts of bills
that some people are uncomfortable discussing, you know, things around
the end of life and gay marriage for example. True,
but there was no reason why that debate shouldn't happen.
People are entitled to their view. I should respect the
fact that other people might have a different view.

Speaker 2 (01:00:58):
Yeah.

Speaker 26 (01:00:59):
Good point to that is the fact that Seymour was
or it said that he that that it wasn't a
it wasn't a deal breaker in terms of the coalition agreement.

Speaker 2 (01:01:09):
Really, yes, he said.

Speaker 26 (01:01:11):
There was an interview with Guyan Espiner and he said,
so you wonder why on earth you know? I mean
that just that, just as I said, just comes back
to the fast school nature of it all and just
the you know, you just must you must.

Speaker 25 (01:01:23):
You would wake up in the middle of an I
can think, why the hell?

Speaker 2 (01:01:26):
Yeah, it was an odd time outside waiting outside the
Courts Hotel in Auckland for those negotiations to be finished.
Wonder what did happen on the inside. I think though
it is.

Speaker 24 (01:01:38):
It is interesting though, Ryan that I mean, there has
been a lot of interest in this bill, and so
it does show that people, you know, from a range
of perspectives are interested in this is an issue. Yeah,
And so I think it's it's it's you know, positive
that people are participating in the process and you know,
they're probably having discussions that they wouldn't otherwise have. And

(01:02:00):
I don't I don't take the view that if you
have a discussion that's a bad thing. I think so
long as you're polite and professional and you know you're
it's not a bad it's a good thing.

Speaker 25 (01:02:09):
Except some of the parts that discussion condor will never
be here.

Speaker 2 (01:02:14):
Well that's that's the point that maybe has the problem
with Yeah. But but I guess the other point is
has sure we've had a debate, Connor, but has David
Seemore won it, you know? Or was that never the point?

Speaker 28 (01:02:26):
You know?

Speaker 2 (01:02:26):
I don't know, I don't, I don't know.

Speaker 24 (01:02:30):
But but maybe he has won it in the sense
that there's been a lot more discussion about it than
there would be otherwise. And you know, people are saying, well,
is this good?

Speaker 17 (01:02:39):
Is it bad?

Speaker 24 (01:02:39):
Is it you know, is there other ways of looking
at it? I think that's a healthy thing. And a democracy,
isn't it to have a discussion in a constructive way.
I think it is unfortunate that some people on both
sides of the argument have taken a bit of a
negative and destructive view of things.

Speaker 2 (01:02:55):
But you know, isn't discussion good? Yeah? All right, hey guys,
we have to leave it there. Thanks coming on. Mark,
You'll have to sort out your your ears next time.

Speaker 25 (01:03:04):
The give a little page. I'm going to get a procedure.

Speaker 2 (01:03:07):
Don't just what have them taken off? That's not going
to help going to help you?

Speaker 25 (01:03:15):
Stock point them at the top.

Speaker 2 (01:03:17):
Conoring this and Mark Sainsbury on the huddle tonight. It
is eight minutes away from six.

Speaker 1 (01:03:23):
It's the Heather Duper c Allen Drive Full Show podcast
on iHeart Radio powered by News TALKSB.

Speaker 2 (01:03:31):
News TALKSB and Wellington. It has just gone five minutes
away from six and Wellington. This week they've had a
murder suicide and roseenneath. They've had a body found outside
a property in Northland. This is the police. They've had
that driver ramming police cars entering five in Lower Hut
last month they had the murder, well the death and
mirramar So the police have got a lot going on

(01:03:51):
and they've had to bring in more investigators into Wellington.
Fifteen more investigators have apparently been brought into help. That's
how bad things are in Willington at the moment. You know,
when you something in the news and you go, oh, gosh,
everyone's going to hate that. You know, everyone's going to
think that's so annoying, Like I don't know, the Greens
in their arguments about profit, for example, you think, oh,

(01:04:12):
most people will think that's a bit silly. Well, it's
just we're all different folks and we're all got different
strokes and we like different things. And Meghan Sussex, the
Duchess her collection, remember where I told you about this,
her online shop, her collection of things that she endorses.
I told you about this the other day and I thought, oh, well,

(01:04:32):
who's going to buy? I mean, you look at the
feedback she's had to this TV show that she's put
on where she's wandering around her house in a cashmere
sweeter with a bunch of flowers, you know, popping popcorn
from the actual corn on the cob. And I mean,
who has time anyway, So she's got her own line
online and it's sold out in minutes. So just because

(01:04:56):
you think people will hate something, doesn't think they will.
What was on there? Twenty five New Zealand dollars for jam,
Flower Sprinkles twenty six dollars.

Speaker 21 (01:05:04):
Because sorry, how much jam for twenty five dollars?

Speaker 2 (01:05:08):
Well, a good question, Actually it does. Haven't got that information.

Speaker 21 (01:05:11):
I really hope that's like a lot of jam, a
lot of jam, or a really really good jam for
twenty five dollars.

Speaker 2 (01:05:16):
I suspect it to say.

Speaker 21 (01:05:17):
I don't think people were swooping it and this is
sold out because people were bargain hunting.

Speaker 2 (01:05:20):
No, I think that the jam would have been the same,
you know, the ones you get in the hotels that
are tiny. I reckon it would have been like that
wildflower Honey Honey forty nine dollars, short Bread and Crape
mixes twenty four dollars, Herbal Tea mix twenty one dollars,
sold out in minutes.

Speaker 17 (01:05:36):
There you go.

Speaker 2 (01:05:38):
If you were one of the lucky buyers, give us
a text nine two nine two What do you score?
How do you feel? Three to six news talks. They'd
be after Sex. We're going to talk to Sam Dicky
from Fisher Funds. He's got some really interesting tidbits that
we might have missed from today's Trump trade announcement.

Speaker 1 (01:06:00):
Where where business meets insight, the business hours with Ryan

(01:06:22):
Bridge and Mass Insurance and investments, Grow your wealth, protect
your future news talk.

Speaker 2 (01:06:28):
Said B seven after six news talks, said B Liam
Damon on trade. In just a few moments, Jamie McKay
as farmers breath assigned relief. The business have been a
gp and before top of the hour will get to
the UK. Right now, it is time to have a
look at Trump's tariffs. He's fired as shots on trade.
All countries get ten percent, the EU cops twenty percent.
Asia hit quite hard. Here are the numbers for you.

(01:06:50):
China thirty four percent, Vietnam forty six percent, Taiwan gets
thirty two, Japan twenty four, South Korea twenty five, Thailand
thirty six, Indonesia thirty two, Malaysia twenty four, Cambodia forty nine.
Sam Dicky is Fisher Funds. He's with us, Hi, Sam
good eating right now. The fact that Asia has been

(01:07:11):
hit so hard, I mean that has implications for US
given how much trade we do there. But in terms
of market reaction today, that's who we've seen the biggest reaction.

Speaker 20 (01:07:19):
Is it not? That's right?

Speaker 11 (01:07:22):
Well, sort of two to three percent falls in the
US markets after close and Asian markets like you know
the Nick Eye in Japan down three percent, Vietnam down
sort of four or five percent, whereas Good on New
Zealand as did flat on the day.

Speaker 2 (01:07:38):
And is this what you were expecting? Were you expecting
them to be worse than this?

Speaker 23 (01:07:43):
No?

Speaker 11 (01:07:44):
I think I mean the market generally was expecting sort
of a global tariff of twenty percent, and I think
the market was expecting it to be more uniform. So
the fact that it's a twenty nine percent weighted average
tariff around the world is worse.

Speaker 20 (01:07:56):
And the fact that so non uniform was quite a.

Speaker 2 (01:07:58):
Surprise as well. So that's a good thing because the
market's obviously they were pricing in something bad happening over
the last couple of weeks, weren't they. So is this
is this sort of a bit of a sigh of relief?

Speaker 11 (01:08:12):
Well, I think when the big news event that everyone's
expecting comes to pass, you do start to get some
sign of relief.

Speaker 20 (01:08:21):
But to be clear, this was worse than expected.

Speaker 11 (01:08:23):
This is twenty nine percent versus twenty percent expected, despite
the fact that markets have been weak, and as you said,
it's been disproportionately negative to Asia, but especially Southeast Asia.
You know, Vietnam, Cambodia, some of those countries have been
with sort of forty five to fifty percent tariffs, so
that that's definitely worse than expected, and that has flow

(01:08:44):
on impacts as well, because there's a lot of product
that is manufactured in those countries and a lot of
product that's been diversified out of China. So people have
been trying to diversify their supply chains away from China
and they've chosen Southeast Asia is the next best.

Speaker 2 (01:08:58):
Option, right, So this is actually, I mean, yeah, interesting.
And I was looking at Vietnam today. They I think
it's about thirty percent of you know, more than one
hundred billion dollars of what they produced goes to the
United States and they've been hit with what was it
forty six percent. I mean, that's that's for that kind
of country. That's pretty crippling, isn't it.

Speaker 11 (01:09:20):
That's right, But I mean, you know, we had been
here in the last few days that Vietnam had been
feverishly trying to, you know, walk back some of the
tariffs it had on US goods imported into its country.

Speaker 20 (01:09:32):
You hear to this, but I guess you know, too little,
too late at the stage.

Speaker 11 (01:09:35):
But this is going to be critical to watch in
the coming days and weeks, is do some of these
countries back down reduce the tariffs on US imported goods,
which will in turn allow the US to back down
and lower the reciprocal tariffs.

Speaker 2 (01:09:50):
Now, let's talk about some New Zealand stocks for example,
I mean the likes of Fisher and Pike or what
happens with them? What did you any carve our workarounds
for these types of businesses from what you heard today.

Speaker 20 (01:10:04):
Yeah, fishing and Pocal healthcare super interesting.

Speaker 11 (01:10:06):
It had a bit of a roller coaster day, down
as much as seven percent at one stage, but encouraged,
encouraging me finished up on the day.

Speaker 20 (01:10:13):
And a couple of reasons for that.

Speaker 11 (01:10:14):
The first is stock had been a bit soft running
into this and anticipation, but much more importantly, while New
Zealand was slapped with a ten percent tariff Mexico, where
FPH manufactures about sixty percent of the product that goes
into the US did not receive any incremental tariffs, and
above the twenty five percent tariff.

Speaker 20 (01:10:34):
It got earlier.

Speaker 11 (01:10:35):
But most importantly, the White House confirmed that products manufactured
in Mexico that are compliant with the US Canada Mexico
Trade Agreement will have zero tariffs. And almost all of
fph's products and Mexico is compliant, So that was really important.
And I've got to say, you know, we've been looking
at a lot of companies around the world today and

(01:10:56):
how they've reacted.

Speaker 20 (01:10:57):
To this and what they've said.

Speaker 11 (01:10:59):
It was an absolute breath of fresh air to see
the clarity that FPH gave the stock market with their release,
and that's quite rare globally.

Speaker 2 (01:11:07):
Yeah, well, they would be one of the lucky ones,
wouldn't they. It's the lucky few.

Speaker 17 (01:11:11):
What is all of this?

Speaker 11 (01:11:12):
Well, not so much the lucky few, but it's just
the clarity with which they put in that release, and
that gave the clarity to investors that that's quite rare.

Speaker 20 (01:11:21):
So I think that's right, a lesson for other companies
around the world.

Speaker 2 (01:11:25):
What does all of this mean for investors?

Speaker 20 (01:11:29):
Well, we're two from here. I think is critical.

Speaker 11 (01:11:32):
So I always think, and this is a bit of
a fraud exercises trying to understand why is Trump doing this,
But if we take them at face value, it's important
and it helps us begin to understand the end game.
So ostensibly it is to reduce the persistent US trade deficits,
It is to return manufacturing to the US, and it
is to serve as a bargainingship to drive lower tariffs

(01:11:53):
on US goods important into other countries. So if any
of those things start happening, we could see an easy
of this pretty draconian policy.

Speaker 20 (01:12:02):
So that's the first point.

Speaker 11 (01:12:04):
The second point is there's a bit of water to
go into the bridge here that these tariffs weren't uniform.

Speaker 20 (01:12:10):
And take Apple. Apple is a great case in point.

Speaker 11 (01:12:13):
It was down sort of seven percent after market, not
only because it gets hit harder than expected on its
manufacturing in China, but perversely, it also gets hit harder
than expected on the manufacturing it had moved to Southeast
Asia and India to diversify away from China. So I

(01:12:33):
think two points there. If we see those two things
happen that Trump once, then we could see and easy
of this policy. But secondly, there's a bit of a
bit of uncertain water to go into the bridge for
some of these companies where where they make decisions about
where to manufacture in the future.

Speaker 2 (01:12:50):
With hope it doesn't last too long. Sam, thank you
very much for being with me tonight. Sam Dickie film
Fisher Funds. Just to recap, Sam said, this is much
worse than what was being expected by the markets. Fisher
and bikele is going to be okay, despite the fact
that they are manufacturing in Mexico and exporting into the
United States. Asia was hit hard, and Southeast Asia particularly hard.
Thirteen after six News Talk zb we will get to

(01:13:11):
Jamie McKay from the Country shortly and Liam Dan from
The Herald.

Speaker 1 (01:13:16):
It's the Heather dupas Allen Drive Full Show podcast on
iHeartRadio empowered by News Talk ZEBBI.

Speaker 2 (01:13:24):
There is a bold, design centric five star hotel in
downtown Auckland, So Auckland, and it's a great place to visit.
I can highly recommend it. The first thing that strikes
you when you go there is just how different so
Walkman feels from a typical five star. The lobbies packed
with personality, there's artwork everywhere, breakfast, lunch and dinner are
all served at the Harbor Society restaurant on the fifteenth floor.

(01:13:45):
It's very nice and where the behaving. You get stunning
views of the harbor. They are offered through floor to
ceiling windows. Every table has a window seat, so everyone
gets to enjoy the view. It's equal opportunity. Here you
watch dozens upon of yachts returning to the marina as
the sun sets. It's stunning. At night, the rooftop bar
comes alive. There's colorful lights throughout the building. There's all

(01:14:08):
these unexpected little lighting choices. Even in the lifts. There's
mirrors on the walls. That's selling the floor. It's like
a party in there. So Auckland really is so impressive.
So treat yourself, enjoy a break away from the every
day at so Auckland. Sometimes soon encroaching.

Speaker 1 (01:14:23):
The numbers and getting the results. It's Ryan Bridge with
the Business Hour and MAS Insurance and Investments Crew, your wealth,
Protect your future news dogs.

Speaker 2 (01:14:34):
That'd be six seventeen Jamie McKay. Next Liam dan linzid
Herald's Business editor at large with us Now Liam, good evening.

Speaker 17 (01:14:41):
Good day, Ryan.

Speaker 2 (01:14:42):
So all this tariff talk we're going to talk. We're
going to keep it simple for people tonight. Yeah, and
I need that more than anyone. So what does it
mean for our mortgage rates?

Speaker 29 (01:14:54):
Well, great question.

Speaker 25 (01:14:57):
So look, the.

Speaker 29 (01:14:59):
Tariffs, you know, those direct houts. You've heard people talking
about the direct tariffs. We can probably manage them. But
the trouble is what happens to the US economy affects US.
So if they are inflationary for the US economy, and
that does look, you know, that's what the markets are expecting,
and you see the US Federal Reserve is unable to

(01:15:19):
cut rates. They may even worry about inflation and talk
about putting rates up. That puts up the international cost
of borrowing, so that the US yields really set the market.
So that would put up with pressure on borrowing costs
for our banks. And so you know, you could, I
mean the Reserve Bank could counter that by cutting the

(01:15:41):
OCR a bit lower. But ultimately that you know that
the trouble is the US economy is so influential on
everything else that happens in financial markets. So even if
New Zealand, New Zealand's got a lot of work to
do to negotiate this anyway, and we've got our own
risks around, you know, slow down because our trading partners

(01:16:01):
are hit harder and all the rest of it. But
you know, what happens in the US economy will matter too.

Speaker 2 (01:16:07):
Right, Let's talk the dollar. What happens with the dollar.

Speaker 20 (01:16:10):
Well, it's been.

Speaker 29 (01:16:11):
Bouncing around all over the place. Today, it went down
and up and down and up and ended up. It's
fifty seven something now, so it's actually kind of up.
So the issue is, on the one hand, you've got
inflationary risk.

Speaker 20 (01:16:25):
In the US.

Speaker 29 (01:16:26):
On the other hand, you've got people talking about a recession.
So you know which one's going to sort of which
way is it going to break or are they going
to be stuck with stagflation which is recession and higher inflation,
which should be terrible for everyone too. So look, it's
not one hundred percent clear, cup, but if the inflation,
if it's inflationary in the States, you'd expect that to

(01:16:46):
keep interest rates up, to keep the US dollar up,
and our dollar would stay low, which actually, you know,
it does help offset things for the our exporters, you know,
the load dollars really helping bring dollars in the new
Zealand dollars terms and keeping us competitive. It's not so
good on the import site, so that could import a
bit of inflation at a dollar stays low, so you know,

(01:17:09):
could be facing a bit of inflation pressure here as well,
which again would squeeze the reserve bank because it's looking
at you know, that trade off between keeping inflation under
control and stopping the economy slowing down too much.

Speaker 2 (01:17:23):
And key we sab run us through it.

Speaker 29 (01:17:26):
Well, it's already yeah, Kee We Saver is already looking rough, right,
So you know, we are hugely influenced by Wall Street.
Our funds have a large exposure. I know, I've talked
to some fund managers who are you know, there is
talk about shifting out towards Europe and looking back at
other parts of the world, but really where Wall Street goes,

(01:17:48):
everyone sort of follows. And so it's been it's been off,
it's going to be you know, the futures are saying
you're looking at it two to three percent off again tonight.
So yeah, not going to be a great day to
look at your key savor tomorrow or in the next
next couple of weeks.

Speaker 9 (01:18:03):
I guess it's just we don't.

Speaker 29 (01:18:05):
Know, it is a giant experiment. What happens from here,
you know, how much of its negotiation, how those negotiations go,
whether it escalates to a bigger trade war.

Speaker 16 (01:18:14):
So, yeah, there was a rough one.

Speaker 29 (01:18:16):
Markets have to, you know, process that this was a
more aggressive starting point than maybe they had expected. They'd
been in pricing some of this sin but they'll have
to absorb that and then you know, we hope that
doesn't doesn't escalate from here, that if anything, it could
be dialed back, but that remains to be seen. Unfortunately.

Speaker 2 (01:18:36):
Yeah, we're all holding on breadth and hoping that they
it doesn't escalate any further. Didn't thank you very much
for that. Lend down Insid Herald Business editor at Large
on Trump's tariffs announced today twenty one minutes after six. Actually,
one thought I had today is what happened to the
agriculture tariff? Remember Trump said there was an agriculture tariff?
Was that just did he mean tariffs generally which would

(01:18:58):
help the agricultural sect or was there something else? Anyway?
Jamie McKay is here next.

Speaker 1 (01:19:03):
The Rural Report with MSD Animal Health, home of the
new all Flax rapid EBODAGS.

Speaker 2 (01:19:09):
Six twenty four News Talks. There'd be Jamie mckaye, host
of the Country with me tonight, Jamie good evening.

Speaker 16 (01:19:14):
Good Ay, Ryan.

Speaker 2 (01:19:15):
How what's the reaction been like the rural sector to
the tariff announcement today from Donald Trump?

Speaker 16 (01:19:20):
Well, well, it depends on who you're listening to.

Speaker 28 (01:19:22):
I heard just talking to Tod McLay Ryan just after
five o'clock, and I've seen Luxon saying tariffs are no.

Speaker 16 (01:19:29):
Good for anybody on the world stage.

Speaker 28 (01:19:32):
Yet I spoke to Winston Peters, obviously Foreign Affairs Minister.
Some people would say he's a bit pro America, but
he thought it was a good result for US, and
I guess when you look at some of the other
countries like Cambodia and Vietnam, relatively it's a good result
from a primary sector point of view, Ryan, I don't

(01:19:53):
think Dary will be too badly affected, although in saying
that only six percent of our dairy stuff goes to
the U. But our biggest market for Darry is obviously
China with a thirty four percent tariff. Their economy is
obviously going to be affected by this. So really the
clicker for US is what effect it has on other
economies are other customers. I think from a primary sector

(01:20:17):
point of view, just my take on it, meat and
wine would be the worst effect. You take the United
States as our biggest red meat market. When it comes
to sheep meat, it's second only to China, and when
it comes to beef, it's the biggest by a country mile,
almost twice out of China. So you know, nine billion dollars,

(01:20:37):
as Tod McClay said, that's a nine hundred million dollar tariff.
We're better off than a lot of countries. But I
think we'd be better off without them.

Speaker 2 (01:20:45):
Yeah, well, yeah, the whole world would be, would we.
Did you remember when Donald Trump tweeted on a whatever
you call it on his truth social site about an
agriculture It seemed to imply there was a specific agriculture
tariff coming and we were a bit worried about that.
I'm assuming, Jamie, this is what he was talking about,
and that it will benefit agriculture American agricultural producers rather

(01:21:08):
than a specific agricultural tariff. Is that your understanding too?

Speaker 16 (01:21:12):
Well?

Speaker 28 (01:21:12):
The man confuses me, to be perfectly honest, I can't
quite figure out how he's figured out that he's paying
a twenty percent tariff to put stuff into New Zealand.
I've heard all sorts of explanations how that number's gone about,
but it would be primary school maths, bad primary school maths.

Speaker 16 (01:21:28):
He's used to come up with that number.

Speaker 28 (01:21:31):
Look, I think certainly in the short term, maybe in
the medium term we're just going to have to put
up with it. And maybe and there is as once
Peter said that on my show, there is possibilities that
markets could open up for us elsewhere where we can
be more competitive because of our lower tariff right into
the US. So look, we'll see how it plays out,

(01:21:53):
but I'm with Luxan on this one. We'd be better
off without the tariffs.

Speaker 2 (01:21:57):
Very briefly, Jamie, we've got this twenty four year old
Meghan White who is going for gold, the only female
contestant and the young farmer regional finals.

Speaker 28 (01:22:07):
Well, the last of the of their regional finals, remember
the seven of them. The last of them is happening
this weekend down in Winton and Southland Heartland, Southland, and
she is the only female finalist and all the rest
of males obviously, so if she were to get through
and win that Otago Southland Regional final. She would be
the only female finalist. The other six regional finalists already decided.

(01:22:32):
Our blokes remembering Emma Emma Paul one the young farmer
of the Air Grand Final, first female and only female
to do so in twenty twenty three. But look the
three first time is and there'll be another first time
coming out of Otago Southland.

Speaker 16 (01:22:47):
But the ones to keep an eye on.

Speaker 28 (01:22:48):
I'm hearing Hugh Jackson bay Plenty, second time finalist, he
finished third behind Emma Paul in twenty twenty three. George
Leatham at a Tasman, Gareth Gareth Mkirchengi, both second timers,
both were in the Grand Final last year. So watch
out for those three names. And I'm hearing Hugh Jackson's

(01:23:08):
the favorite. I've probably just given him the commentators kiss
of death.

Speaker 2 (01:23:12):
Ryan, Yes you might hear Jamie appreciate your time, Jamie mckaye,
host of the Country. And good luck to Megan White
of course as well. Twenty eight minutes after Sex News talks,
they'd be coming up the business of running a GP
clinic apparently doesn't really add up. And we're in the
UK within the.

Speaker 30 (01:23:26):
Brady start, whether it's Macro Micro or just playing economics.

Speaker 1 (01:23:40):
It's all on the business hours with Ryan Bridge and theirs.
Insurance and investments, Grow your wealth, protect your future, youth talks.

Speaker 5 (01:23:48):
He'd be in power.

Speaker 23 (01:23:53):
My name si.

Speaker 15 (01:23:57):
Jap Moselle.

Speaker 2 (01:24:03):
It's twenty three minutes away from seven news talk c'd b.
We'll get to end a Brady out of the UK
in just a few moments, well before seven o'clock. And
I promise you that because it'd be interesting to see.
Did Starma players cards right? He They've got away with
ten percent, the EUS getting twenty percent, So did Starma
do something right? I saw Canada was quite upset with
the UK, just because they share the same king as

(01:24:26):
we all do. But they were at Canada was upset
with the UK because they felt like the UK didn't
stand up for them enough against Donald Trump. So as
far as school Yard, you know, spats go, why went
you standing up for me when I was being picked
on by that person? It's all a bit sad and pathetic, really,
isn't it. But at the end of the day, what
it shows you is it doesn't matter who your king is,

(01:24:48):
your country comes first. Twenty three to seven Bryan Bridge,
who would want to run a GP clinic, But the
answer from today's New Zealand Initiative report is perhaps not many.
The gps who are running them are aging and overworked.
They are struggling to keep their business running because of
the number of patients they have to see, the operating

(01:25:10):
costs they are faced with, They're blowing out. Funding is
not keeping pace and the ailments that people are presenting
with are increasingly complicated. Doctor prabarney Wood is a GP
and New Zealand Initiative research fellow who did this report
and it's with me now. Good evening, Good evening, Ryan,
Nice to have you on the program. Give us a

(01:25:30):
sense how hard is it to run a GP clinic.

Speaker 31 (01:25:36):
I have to be honest, it's pretty hard. The funding
and it just doesn't cover the costs of delivering the
care that our patients need. And add to that the
working conditions under which gps currently have to work, which
means that a lot of our time is spent doing vital,

(01:26:02):
non patient facing work such as following up referrals, looking
at blood results, those type of things. Those that time
is not paid for, So as a business owner, you
would have to pay for your employees to carry out
that work, but then the business loses money as a result.

Speaker 2 (01:26:22):
You can charge a co payment though, right.

Speaker 31 (01:26:25):
The co payment is only what the patient pays when
they come and see you for their appointment. So four
and a half hours of seeing patients generates about three
and a half hours of non patient facing time that's
not paid and certainly isn't covered by the money the
funding you get from the consultation, So.

Speaker 2 (01:26:48):
The co payment So what I pay when I go
plus what the government pays you. You're saying, would I
only cover the four and a half hours patient time,
not the three and a half extra roughly?

Speaker 31 (01:27:00):
Yes, yeah, I'd probably say that the funding doesn't even
cover the four and a half hours of the patient
facing time either.

Speaker 16 (01:27:08):
Right?

Speaker 2 (01:27:09):
Is that because all the doctors are creaming it?

Speaker 16 (01:27:13):
Oh?

Speaker 31 (01:27:13):
No, I think you talk to any GP and I
would hope you would know that that's not the case.
It's really sad that because our funding has not been
looked at and addressed for so long, that many GP
practices have had no choice but to increase the co
payment that they charge patients. It's not something they want.

(01:27:36):
We want to provide an accessible service and we want
our patients to be able to come and see us
when they need to.

Speaker 2 (01:27:42):
And to be able to afford to do so, what's
the net effective that if you're in an area where
you can push up your co payment without you know,
cutting your nose off to spite your face, and no
one can afford to come and see you anymore, does
that mean that you will have a better service if
you are rich and living and well to do area
as opposed to if you were in a poorer area.

Speaker 31 (01:28:05):
Yes, Unfortunately that is the case because with the way
funding works as inequity in the system, if you are
looking after a predominantly high needs population who are poorer,
often they'll have the Community Services Card, which makes it

(01:28:25):
cheaper for the patient to access to see you, and
you get a little bit more funding, but it's certainly
not enough to cover the costs of looking after them.
Whereas if you've got patients who are from a more
predominantly wealthy area, you can charge a bit more from
your co payment which helps cover your cost, but it's

(01:28:50):
still really at the moment, not enough to give you
an idea. And when I was trying to do write
this report, I was trying to find evidence to show
how much of our health budget goes on primary care,
and I couldn't easily find that data. But earlier or
last week study from Victoria University showed quite clearly that

(01:29:11):
for the last twenty years we have had an average
of five point four percent of the health budget spent
on primary care. And when you compare that to other
OECD countries, the ones that are doing well are spending
around fourteen percent.

Speaker 2 (01:29:28):
So that's going to cost billions of dollars.

Speaker 16 (01:29:32):
No, And what it means is, you know, we know that, you.

Speaker 31 (01:29:37):
Know, government is trying to reduce spending and keep to budgets.
What we would be asking for is just a small
reproportion of some of the health budget into primary care.
If we can't find new money, it's just reassigning some
of that to primary care. And one of the ways

(01:29:58):
is to look at the amount of money you would
save from preventing people turning up to ED for instance.

Speaker 2 (01:30:05):
Hey, just one final thing, because this has been a
fascinating insight. A lot of what I've read today talks
about complex increasingly complex needs and complicated patient situations. Is
this code for obesity problems related problems? What is it
getting it?

Speaker 31 (01:30:25):
Oh, there's any problem you can name, really we are.

Speaker 2 (01:30:31):
Why have we got so many more problems?

Speaker 31 (01:30:35):
I think, well, one of the things is we've got
an aging population. By twenty twenty eight, we're going to
have over a million people aged over sixty five in
New Zealand. So that in itself, as you get older, unfortunately,
you're more likely to develop a chronic health condition and
or will be living with a disability.

Speaker 25 (01:30:56):
So there's that.

Speaker 31 (01:30:58):
But we are also dealing with increased diabetes, that's for sure.
There's increasing mental health issues, which you've possibly talked about
at some point as well. But I think why these
issues are getting worse is because people aren't being able

(01:31:20):
to get in to see their usual doctor for them
to be able to pick up things early and help
support people to turn their health around.

Speaker 2 (01:31:29):
It's a vicious cycle. Doctor Probaring would GP in New
Zealand Initiative Research Fellow really enjoy talking to you. Thanks
so much for your time.

Speaker 31 (01:31:37):
Oh thank you.

Speaker 2 (01:31:38):
It is sixteen minutes away from seven. You're on News
Talk CBB. I do wonder about when they're so you know,
increasingly complex things. It's likeing, is it really that complex?
I suppose it is. If you're a GP and everyone's
getting older and bigger and more mentally unwell. Quite the
concoction sixteen to seven were in the UK.

Speaker 1 (01:31:57):
Next everything from your sims to the corporates, the Business
Hour with Ryan Bridge and Player's insurance and investments. Grew
your wealth, protect your future.

Speaker 20 (01:32:08):
The youth dogs env Nick.

Speaker 2 (01:32:10):
On the text has taken a particularly grim view of
public health. Will get to that shortly right now in
the Brady, a UK correspondent in the good evening to you.

Speaker 9 (01:32:18):
Hey, Ryan, Good to speak to you again.

Speaker 2 (01:32:19):
Now the UK, you've escaped the worst of it. Canada
was a bit angry with you guys for not standing
up for them. But your strategy is Starmer's strategy seems
to have worked. It looks like you've escaped the worst
of Trump's tariffs, well to a point.

Speaker 9 (01:32:33):
You know, everyone here bangs on about the special relationship
with the United States. Well hang on, New Zealand have
got the same dealers the UK. So a is Guatemala,
Brazil and Australia. Starmer has made the main plank of
his foreign policy making friends with Donald Trump. The European Union.
They don't care. They're going to whike back exactly the

(01:32:54):
same taxes and tariffs. You're going to see a big
trade warner between Europe and the United States Canada. You know,
everyone will whack back and bite back of what Trump
has done. Starmer seems to think that conciliation is the
way forward. So we saw a big show that envelope
from the King when he saw Trump recently. It's going

(01:33:14):
to be fascinating. But I think there will be perhaps
a collective's outpouring of relief from Number ten Downing Street
that the UK has not had a twenty percent tariff
because the economists here reckon twenty percent of a tariff
would have a permanent zero point three percent reduction in
the UK GDP. So there's still a lot to play for.

(01:33:35):
Tariff's don't kicking and kick in until Saturday. And now
in the next forty eight hours is just frantic diplomatic
efforts behind the scenes to try and get a trade
deal to negate that tariff even further.

Speaker 2 (01:33:49):
Prince Harry the case over the text payer funded security.
You know, he thinks he should have security on the
on the public tet in going to court next week.

Speaker 9 (01:33:59):
Yes, so it be a two day hearing Tuesday Wednesday
next week. I'm hearing at the Court of Appeal. This
is his last roll of the dice now, because it's
an appeal, I don't think he needs to be there,
so we may not see Harry. He doesn't need to
give evidence. I think it's legal argument and then there
will be a panel of three judges who will ultimately decide.
But look, there is no public sympathy here for Harry.

(01:34:21):
The overwhelming view when you speak to people is he
made his decision. It was his choice to remove himself
from his own family and go and live in luxury
in California. So why should the UK taxpayer be picking
up the tab for security when a multimillionaire comes back here.
So it'll be curious to see the interpretation of the law.

(01:34:42):
But I think most people here don't really care what
Harry does so long as we're not paying for it.

Speaker 2 (01:34:49):
Especially when Megan's line of Honey and Jam has just
sold out on a new website. I would have thought
in that amazing.

Speaker 9 (01:34:56):
I look forward to buying some.

Speaker 2 (01:34:59):
Hey, Heathrow Airport so that after the five I've been
warned about the power supply, or they had been I
should say warned about the power supply.

Speaker 9 (01:35:08):
Yeah, in advance, so this is interesting. The boss of
the airport, Thomas Wolby is his name. His Danish, used
to be the boss of Copenhagen Airport. Now he's running
heat Throw. He was hauled before Parliament to explain everything
that went on the decision making processes, and it's very
interesting that the information that is key to the story
today actually came from someone else speaking to the panel.

(01:35:32):
So it's a group of politicians on the Transport Select
Committee and it was a guy from the Heathrow Airport
Operators Committee, so this is all the airlines. And he
pointed out that just two weeks before the fire at
the substation, there had been the theft of some copper
wiring and cabling from the substations around Heathrow and that

(01:35:52):
prompted the airport operators to throw airport directly, what are
you going to do if there's a problem with one
of these substations. And they didn't get a response. So Woldby,
the CEO, said that he made the right decisions and
it was safety first and it was all he could do.
But it's very interesting now. I think what we're going
to see play out is a legal battle for compensation

(01:36:15):
because the airlines are legally obliged to compensate the passengers.
And it's quite clear the airlines are now going to
say that Heathrow you caused.

Speaker 2 (01:36:22):
This in the think if they're in the radio UK
correspondent will get to your tics next on News Talks IBB.

Speaker 5 (01:36:30):
It's the hither too.

Speaker 1 (01:36:31):
Plus see Alan Drive Full Show podcast on iHeartRadio powered
by News Talk ZIBB.

Speaker 2 (01:36:38):
Six to seven News talksib This is a text from Nick.
We were just talking about GP clinics and the fact
that there's an ever increasing increasingly complex array of the
ailments people can have, and that's why they go into
the GPS all the time.

Speaker 1 (01:36:52):
Ryan.

Speaker 2 (01:36:53):
The increasing complex, the increasingly complicated complex patient picture is
partly down to US six at stopping whatever primary health
issue would have killed a particular patient in the first place.
How grim is this? So now they live long enough
to develop a secondary problem, we stop that, then they
have time to develop a tertiary problem, et cetera, et cetera,

(01:37:15):
et cetera. Nick, I suppose it's not untrue. I mean,
we medical advancements, then people live longer than When they
live longer, they have more chance of getting more problems,
So I suppose you're not wrong that Another one says, ryme,
this is an absolute load of s h t E.
I had a skin issue. I saw three medical experts

(01:37:36):
and my GP preferred them. Me there four hundred dollars later,
I was told didn't need to come in the first place.
There you go. I went to the dermatologist once with
what I thought was a mole and he said, no,
you've just scratched yourself. And I still had to pay.

Speaker 21 (01:37:55):
An idiot. Well, you clearly couldn't tell yourself through the
diagnosis yourself, so you know you need to pay a
profession for I think that's absolutely fair enough to give
your fan aims to put on your scrap.

Speaker 2 (01:38:05):
Most of money over he just scratched it off. And
then there was that's all right, there's time's up. If
you go.

Speaker 21 (01:38:12):
I got to hate your patience to see it.

Speaker 12 (01:38:14):
That's brilliant.

Speaker 2 (01:38:15):
Hey, what have we going out to?

Speaker 16 (01:38:16):
Ends?

Speaker 21 (01:38:17):
Mark Ronson uptown Funk. Mark Ronson has been well, he's
actually ended up with a bit of medical issue himself.
He was playing a show and I'm sure this must
be really frustrating for performance. He wasn't happy with the
audio sit he felt like the crowd weren't getting like
the proper sounds, so he thought, okay, I'll just quickly
fixed this myself, and he went to one of the
speakers and kind of tried to turn it around so

(01:38:38):
that it would face the crowd more. Now, the problem
with that is the speakers are like really heavy, and
they're way way heavier than they look, and so he's
sort of popped both the tendons and his bicyp He
did finish playing the show, so it's a man with
work ethic. But yeah, he's just posted a photo from hospital.
He's doing a little thumbs up with his good arm.
So I don't I think he will recover, But yeah,

(01:38:59):
just we all wish you our best, smart ronson. Maybe
get the professionals the speaking next time.

Speaker 2 (01:39:05):
He should know better. After age thirty, you don't lift anything,
just you know, you take life very easy. Thanks everyone
for your feedback. Today Trump's done its worse. We're still standing,
aren't We see you tomorrow?

Speaker 1 (01:39:48):
For more from Hither Duplessy Allen Drive listen live to
news talks it'd be from four pm weekdays, or follow
the podcast on iHeartRadio.

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