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Speaker 1: It's Monday, the third of February twenty twenty five. Welcome

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Speaker 1: to the Fast five Business News by Fear and Greed,

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Speaker 1: where we give you the top five business stories you

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Speaker 1: need to know in just five minutes. I'm Michael Thompson

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Speaker 1: and good morning Sean Aylmer.

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Speaker 2: Good morning Michael, Sean.

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Speaker 1: Five stories in five minutes, and story number one is

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Speaker 1: an absolutely massive one. Donald Trump has levied large tariffs

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Speaker 1: on imports from Canada, from Mexico, and from China, triggering

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Speaker 1: a trade war that is likely to push prices higher globally.

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Speaker 2: Twenty five percent on Mexico, twenty five percent on Canada

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Speaker 2: except for oil and energy products, ten percent on China.

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Speaker 2: That's products being sold into the US. Donald Trump said

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Speaker 2: he used emergency powers to issue the tariffs because of

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Speaker 2: the major threat of illegal aliens and deadly drugs killing

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Speaker 2: our citizens, including fentanyl. That's the quote. He was pretty

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Speaker 2: much condemned immediately by industry groups and economists. He has

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Speaker 2: threatened he allevy tariffs on the EU. Does it work? Basically?

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Speaker 2: An example is the best way to go. Mexico might

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Speaker 2: import a car into the US for ten thousand dollars

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Speaker 2: as from tomorrow it will cost twelve five hundred. That

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Speaker 2: makes US car makers in Michigan more competitive, But they

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Speaker 2: might make a car for twelve thousand, four hundred dollars

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Speaker 2: one hundred dollars better. Sounds good. Who pays that extra though?

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Speaker 2: That two four hundred, two thousand, five hundred consumers? That's

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Speaker 2: why it's inflationary. Good social policy, maybe awful economic policy.

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Speaker 1: What does it mean for Australia then, Sean, what's the

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Speaker 1: flow and effect?

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Speaker 2: Well, Canada and Mexico have come out and said they're

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Speaker 2: going to put tariffs on US products. There's a trade

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Speaker 2: war going on. That's not good. It slows global growth.

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Speaker 2: Australia sells a lot of stuff to other countries. If

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Speaker 2: global growth slows, that hits US. It'll hit the Australian dollar,

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Speaker 2: it hit bond marks, it'll hit equity markets. We'll see

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Speaker 2: that today. Biggest fear I think is what happens to

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Speaker 2: interest rates for many of us. This is a reason

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Speaker 2: for the Reserve Bank to give pause doing anything next

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Speaker 2: month when it.

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Speaker 1: Meets Okaying on to story number two, which is very

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Speaker 1: much linked to story number one, how do you think

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Speaker 1: the local market is going to react today?

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Speaker 2: Some of Australia's biggest companies could well be hit by

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Speaker 2: the tariffs. For example, Rio Tinto, minds aluminum in Canada,

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Speaker 2: sells into the US, BHP minds potash in Canada, Northern Star,

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Speaker 2: the Goal Miner, minds lots of stuff in Canada they

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Speaker 2: sell into the US. It'll just be interesting to see

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Speaker 2: how their share prices performed this morning. Then they've got

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Speaker 2: Australian companies in the US, or Aristocrat Leisure for example,

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Speaker 2: James Hardy, they manufacture stuff there, will they be hit?

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Speaker 2: A bit unclear about all that. Funny thing is that

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Speaker 2: the share market hit a new high last week, though

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Speaker 2: futures training suggests it's going to fall by about one

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Speaker 2: percent when we open today. Certainly it leaves investors the

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Speaker 2: tariff's decision leaves investors very very nervous.

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Speaker 1: Indeed, all right, moving on to story number three now,

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Speaker 1: Sean and the Australian home auction market has stalled with

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Speaker 1: no growth in January across the country, and Sydney, Melbourne

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Speaker 1: and Canberra are all actually going backwards, and even.

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Speaker 2: The boom cities of Adelaide, Perth and Brisbane are taking

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Speaker 2: a breather, albeit they're still rising. The regions are having

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Speaker 2: a good time of it. Internal migration and healthier affordability

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Speaker 2: has pushed up the average price across regions by zero

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Speaker 2: point four percent last month. Core Logic's Home Value index

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Speaker 2: is now down zero point three percent since the peak

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Speaker 2: in October. I suppose the good news is that rates

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Speaker 2: are supposed to be coming. That tends to support house prices.

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Speaker 2: What's kind of interesting now is Sydney's most expensive city,

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Speaker 2: But beyond that, the next most expensive in terms of

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Speaker 2: medium house prices is Brisbane at nine hundred k, then Adelaide,

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Speaker 2: Perth and Melbourne. Those cities have caught up to Melbourne

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Speaker 2: at about eight hundred k. Hobart's cheaper at six fifty k.

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Speaker 1: Okay story number four. Microsoft has warned the deep fake

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Speaker 1: audio content could be used to mislead voters and potentially

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Speaker 1: disrupt the federal election later this year.

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Speaker 2: Manipulated audio content and deep fake videos designed to sound

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Speaker 2: like a political candidate's real voice could spread quickly on

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Speaker 2: social media. Microsoft's Democracy Forward Initiative boss Jenny beadines she's

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Speaker 2: visiting Australia. She said China, Russia and Iran are among

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Speaker 2: the leaders in electoral interference, often hacking accounts and spreading

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Speaker 2: content to mislead voters. According to report in the fin Review,

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Speaker 2: Auto deep fakes are the most effective, she said and

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Speaker 2: among the hardest to detect. In a threat assessment published

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Speaker 2: last month, the Australian Electric Commission said while attempts to

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Speaker 2: interfere in Australia's deminocratic processes were common, successful interference was not.

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Speaker 2: What Microsoft is now saying is it's going to be

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Speaker 2: much harder to ensure that interference doesn't happen.

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Speaker 1: Now, that's a bit of a worry story. Number five

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Speaker 1: last one, The EU Sean plans to make e commerce

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Speaker 1: platforms like Timu and San and Amazon Marketplace liable for

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Speaker 1: dangerous or illegal products sold online.

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Speaker 2: It's part of a crackdown on the flood of imports

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Speaker 2: from China. According to The Financial Times, customs reforms would

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Speaker 2: oblige online platforms to provide data before goods arrive in

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Speaker 2: the EU just means better control. Currently, any individual in

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Speaker 2: the EU who purchases goods online is treated as the

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Speaker 2: importer for customs purposes. The reforms, if adopted, switched the

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Speaker 2: responsibility to the platforms that made you change. There it

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Speaker 2: comes to mid concerns about the rise in dangerous and

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Speaker 2: counterfeit goods shipped from Asia directly to European customers.

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Speaker 1: All right, there we go to the top five business

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Speaker 1: stories in five minutes. Thank you very much, Sean, Thank

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Speaker 1: you Michael. It is Monday, the third of February twenty

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Speaker 1: twenty five. Remember to hit follow on the podcast and

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Speaker 1: if five minutes isn't enough, you can find our longer

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Speaker 1: daily show called Fear and Greed wherever you listen to

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Speaker 1: podcasts by Michael Thompson. And that was the fast five

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Speaker 1: business news by Fear and Greed. Have a great day.