US President Donald Trump has agreed to cut tariffs on UK autos, steel and aluminum in a trade deal.
In the deal, the United Kingdom will buy more US beef and ethanol, streamlining it customs process for goods from the country.
Who came out better in the deal?
UK Correspondent Gavin Grey discusses the terms, the impact on domestic industries and more.
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Speaker 1 (00:00):
Devin Gray, how UK correspondents with US, hey, Kevin Hi
have so this trade deal, who's a bitter for the
US or the UK?
Speaker 2 (00:09):
Very good questions. That's been something that's been debated, but
the Prime Minister says this is a great deal, fantastic
historic deal and is very keen. So what the US
and UK have agreed to do is that Donald Trump
is to remove the twenty five percent tariff on steel
and aluminium coming out of the UK and into the US.
(00:31):
He will also cut the rate on car exports from
twenty seven and a half percent to ten percent, and
that actually is pretty crucial because companies like Jaguar landro
have actually put a temporary pause on production and export
waiting for an announcement like this. It covers the first
hundred thousand cars, but last year I think we sold
(00:51):
one hundred and one thousand across the Atlantic, so it
is going to be pretty good. In return, the UK
government says it's removing the town gariffon ethanol for US
goods and agrees reciprocal market access on beef. It's going
to be very interesting. Farmers rather worried about that last bit. Now,
I suppose the question is having announced a deal with
(01:11):
India and America this week, two huge company, big trading partners.
Of course, we now turn the focus on the EU
and already we're hearing now from the Governor of the
Bank of England saying Britain needs to rebuild its trade
relationship with the European It is the UK's largest trading
partner and there are calls for a reset in relations.
Speaker 1 (01:33):
Kevin. Why was Keir Starman not at the White House
for the announcement?
Speaker 2 (01:37):
Yeah, he interested this. He's had a rather busy diary
lately and it would appear that he was enjoying certain hospitality.
There was a report of with Arsenal playing. But also
he has now got to go to Norway today as well.
So I think it's just one of those things. It
(01:58):
was seen a long way. They thought they'd leave it
in the Lord Peter Mandelson, former very senior minister within
Tony Blair's government and seen as a very smooth operator.
So he was the one that was on the shoulder
of Donald Trump as the signing went ahead. And yeah,
I think an interesting thing that sort of secure Starma
(02:19):
didn't think the need to.
Speaker 1 (02:20):
Go I think so too. Hey, so what's going to happen.
What's the UK going to do with these Russian oil tankers.
Speaker 2 (02:26):
Well, since the invasion of Ukraine, many Western countries of
course have impost sanctions are Russian energy, that is, by
limiting imports and capping the price of its oil. These
are of course trying to prevent that money going into
Russia in order then to be used to fund the war.
But to get around these penalties, Russia has built up
(02:49):
what's been referred to as a shadow fleet of tankers.
The ownerships and movements are obscured. They aren't sort of
officially on the register of Russian boats, but they are
being used, it's believe, to export oil around the world.
The government thinks they are decrepit, often in a very
dangerous state, and responsible for what they've described as reckless seafaring.
(03:13):
Now it's not just one or two boats, it's up
to one hundred vessels carrying more than thirty eight billion
New Zealand dollars worth of cargo since the start of
twenty twenty four. And so Sekirir starmers I mentioned he's
with North European leaders at the Joint Expeditionary Force in Oslo,
today and he is announcing that there are going to
(03:33):
be sanctions on those one hundred vessels, and I think
he's hoping that other leaders there would take note and
maybe do the same, because at the moment, all those
sanctions are are going to be banning them from British
ports and also potentially detaining them if they come into
UK waters. If that now is expanded by other nations
and the JEF as it's known, consisting of ten nations
(03:55):
including Denmark, Norway in the Netherlands, then this could be
a much bigger step.
Speaker 1 (04:00):
Okay, now listen, is this Dean Mark situation serious?
Speaker 2 (04:04):
Yes? It is so. The Wall Street Journal in America
leaked a story saying that the spy agencies in Washington
in America have been told by the Trump administration to
focus their minds on Greenland amid that threat of Donald
Trump to take over the island. Now, according to the newspaper,
(04:25):
US spy agencies told to focus efforts on the semi
autonomous countries independence movement and America's goals, of course, to
extract minimal resources there. So. The Director of National Intelligence
has reacted furiously to this league, saying that it is
an attempt to undermine President Trump by politicizing and leaking
classified information, accusing the Wall Street Journal of breaking the
(04:48):
law and undermining our nations security and democracy. But the
Danes the same. Hang on a minute, now, are you
spying on an ally here? So they're summoning the US
ambassad to effectively address these reports, and as you can imagine,
are not happy with Denmark the overarching country when it
(05:09):
comes to Greenland, the Greenland remaining semi autonomous.
Speaker 1 (05:12):
Hey Gavin, thanks very much, enjoy your weekend and we'll
talk to you again next week. That's Kevin great are
UK correspondent.
Speaker 2 (05:18):
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
Devin Gray, how UK correspondents with US, hey, Kevin Hi
have so this trade deal, who's a bitter for the
US or the UK?
Speaker 2 (00:09):
Very good questions. That's been something that's been debated, but
the Prime Minister says this is a great deal, fantastic
historic deal and is very keen. So what the US
and UK have agreed to do is that Donald Trump
is to remove the twenty five percent tariff on steel
and aluminium coming out of the UK and into the US.
(00:31):
He will also cut the rate on car exports from
twenty seven and a half percent to ten percent, and
that actually is pretty crucial because companies like Jaguar landro
have actually put a temporary pause on production and export
waiting for an announcement like this. It covers the first
hundred thousand cars, but last year I think we sold
(00:51):
one hundred and one thousand across the Atlantic, so it
is going to be pretty good. In return, the UK
government says it's removing the town gariffon ethanol for US
goods and agrees reciprocal market access on beef. It's going
to be very interesting. Farmers rather worried about that last bit. Now,
I suppose the question is having announced a deal with
(01:11):
India and America this week, two huge company, big trading partners.
Of course, we now turn the focus on the EU
and already we're hearing now from the Governor of the
Bank of England saying Britain needs to rebuild its trade
relationship with the European It is the UK's largest trading
partner and there are calls for a reset in relations.
Speaker 1 (01:33):
Kevin. Why was Keir Starman not at the White House
for the announcement?
Speaker 2 (01:37):
Yeah, he interested this. He's had a rather busy diary
lately and it would appear that he was enjoying certain hospitality.
There was a report of with Arsenal playing. But also
he has now got to go to Norway today as well.
So I think it's just one of those things. It
(01:58):
was seen a long way. They thought they'd leave it
in the Lord Peter Mandelson, former very senior minister within
Tony Blair's government and seen as a very smooth operator.
So he was the one that was on the shoulder
of Donald Trump as the signing went ahead. And yeah,
I think an interesting thing that sort of secure Starma
(02:19):
didn't think the need to.
Speaker 1 (02:20):
Go I think so too. Hey, so what's going to happen.
What's the UK going to do with these Russian oil tankers.
Speaker 2 (02:26):
Well, since the invasion of Ukraine, many Western countries of
course have impost sanctions are Russian energy, that is, by
limiting imports and capping the price of its oil. These
are of course trying to prevent that money going into
Russia in order then to be used to fund the war.
But to get around these penalties, Russia has built up
(02:49):
what's been referred to as a shadow fleet of tankers.
The ownerships and movements are obscured. They aren't sort of
officially on the register of Russian boats, but they are
being used, it's believe, to export oil around the world.
The government thinks they are decrepit, often in a very
dangerous state, and responsible for what they've described as reckless seafaring.
(03:13):
Now it's not just one or two boats, it's up
to one hundred vessels carrying more than thirty eight billion
New Zealand dollars worth of cargo since the start of
twenty twenty four. And so Sekirir starmers I mentioned he's
with North European leaders at the Joint Expeditionary Force in Oslo,
today and he is announcing that there are going to
(03:33):
be sanctions on those one hundred vessels, and I think
he's hoping that other leaders there would take note and
maybe do the same, because at the moment, all those
sanctions are are going to be banning them from British
ports and also potentially detaining them if they come into
UK waters. If that now is expanded by other nations
and the JEF as it's known, consisting of ten nations
(03:55):
including Denmark, Norway in the Netherlands, then this could be
a much bigger step.
Speaker 1 (04:00):
Okay, now listen, is this Dean Mark situation serious?
Speaker 2 (04:04):
Yes? It is so. The Wall Street Journal in America
leaked a story saying that the spy agencies in Washington
in America have been told by the Trump administration to
focus their minds on Greenland amid that threat of Donald
Trump to take over the island. Now, according to the newspaper,
(04:25):
US spy agencies told to focus efforts on the semi
autonomous countries independence movement and America's goals, of course, to
extract minimal resources there. So. The Director of National Intelligence
has reacted furiously to this league, saying that it is
an attempt to undermine President Trump by politicizing and leaking
classified information, accusing the Wall Street Journal of breaking the
(04:48):
law and undermining our nations security and democracy. But the
Danes the same. Hang on a minute, now, are you
spying on an ally here? So they're summoning the US
ambassad to effectively address these reports, and as you can imagine,
are not happy with Denmark the overarching country when it
(05:09):
comes to Greenland, the Greenland remaining semi autonomous.
Speaker 1 (05:12):
Hey Gavin, thanks very much, enjoy your weekend and we'll
talk to you again next week. That's Kevin great are
UK correspondent.
Speaker 2 (05:18):
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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