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Speaker 1: How make Murray olds in Australia Murray good afternoon, Yeah,

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Speaker 1: good ay, buddy, here you going good. Thank you. Guys

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Speaker 1: have had a good rally today.

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Speaker 2: Yeah. Literally minutes after they opened ten am Australian time,

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Speaker 2: Eastern time, midday New Zealand time, and literally in minutes

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Speaker 2: the Australian sock market up six percent in that very

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Speaker 2: very early trade. I mean they must have been there

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Speaker 2: this morning having their wheatbeaks, the traders looking what's happening

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Speaker 2: in Washington and thought, bloody hell, I bet he go

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Speaker 2: into work this morning on time because it was all

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Speaker 2: it was all hands on deck. Up six percent and

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Speaker 2: early trade, the ASX, the Australian dollar up as well.

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Speaker 2: Last time I looked, Australian iron ore was up two

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Speaker 2: and a half two point two percent. I beg your pardon,

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Speaker 2: which is great if China is still going to be

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Speaker 2: able to afford to buy Australia's iron ore, because of course,

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Speaker 2: the baseline tariff that Trump is now imposing worldwide ten

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Speaker 2: percent of Australia was already at that mark. So ten

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Speaker 2: percent for the rest of the world for ninety days,

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Speaker 2: but heavens above one hundred and twenty five percent on China.

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Speaker 2: So what does that mean for Australia, Because that's the

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Speaker 2: big question over here. Australia I big your pardner, China

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Speaker 2: by far Australia's biggest trading partner. Just enormous volumes in

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Speaker 2: Australia's favor here that Australia sells up into China, a

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Speaker 2: massive market. So economists now over here calling on the

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Speaker 2: Reserve Bank of Australia to cut the cash rate. Now

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Speaker 2: they're not sheddled to meet again until next month, so

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Speaker 2: they want an emergency meeting of the RBA. They want

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Speaker 2: a half percent cup now, half percent next month, or

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Speaker 2: if they're not going to do that, meet next month

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Speaker 2: and give us half of one percent. So it really

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Speaker 2: is that they are now calling for a mega rate cut.

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Speaker 2: They're saying Ryan, not zero point twenty five, but they

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Speaker 2: won half a percent cut next time the bank meets

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Speaker 2: unless they meet tomorrow, and that's not going to happen.

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Speaker 2: So it really is. It's kind of like you wake

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Speaker 2: up this morning, what the hell is going on? Because

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Speaker 2: the world had changed overnight, and look, there are people

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Speaker 2: growing wine, people growing beef, people growing wheat, people digging

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Speaker 2: up Cole and I and or they just don't know

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Speaker 2: what's going to happen tomorrow.

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Speaker 1: No, none of us do, do we The most sleep

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Speaker 1: we get is when he's sleeping. I have found now Australia,

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Speaker 1: this is interesting. So Beijing has come to canber and said, look,

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Speaker 1: let's jointly oppose Trump, and Elbow is actually resisting this.

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Speaker 2: Look an intriguing cheeky you might say. The Chinese ambassador

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Speaker 2: to Australia very well spoken, very well regardedly. He wrote

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Speaker 2: an op ed piece for the nine newspapers that is

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Speaker 2: The fin Review, the City Morning Herald and the Age

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Speaker 2: newspaper in Melbourne. And as you say, he said, there

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Speaker 2: was an invitation from Beijing to Australia to quote, join

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Speaker 2: hands with Beijing to resist Donald Trump. We should be

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Speaker 2: in solidarity with Beijing. And as you say, the Prime

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Speaker 2: Minister here, Anthony Alberanzi, he brushed that off. We'll speak

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Speaker 2: for ourselves, he said. The trade relationship, he was very

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Speaker 2: quick to point out though, is vitally important for Australia.

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Speaker 2: It does represent and I hadn't heard this step before

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Speaker 2: before Albanizi mentioned this today, Ryan, the trade with China,

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Speaker 2: this is very important. It represents one and four jobs

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Speaker 2: in Australia. That's a huge number. That's a big, big number.

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Speaker 2: One and four jobs are directly linked to Australia's trade

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Speaker 2: with China, by far our biggest trading partner. And so

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Speaker 2: what happens to China, not just the US, what happens

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Speaker 2: to China materially affects Australia.

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Speaker 1: Absolutely, we will the same tightrope you guys do trying

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Speaker 1: to balance those two interests. Murray, thank you for that.

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Speaker 1: Great to have you on as the words. Murray El's

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Speaker 1: our Australia correspondent. For more from Hither Duplessy Allen Drive,

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Speaker 1: listen live to news talks it'd be from four pm weekdays,

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