1 00:00:00,680 --> 00:00:04,600 Speaker 1: International Correspondence with Ends and Eye Insurance Peace of Mind 2 00:00:04,640 --> 00:00:11,160 Speaker 1: for New Zealand business. Dan Mitchison's UIs correspondent, Dan Welcome, Well, 3 00:00:11,200 --> 00:00:14,720 Speaker 1: Hey Ryan, good afternoon, Good afternoon. So let's talk about Trump. 4 00:00:14,760 --> 00:00:17,520 Speaker 1: He's given a speech to Republicans at a dinner. I 5 00:00:17,560 --> 00:00:19,919 Speaker 1: saw him in his tux a short time ago. What's 6 00:00:19,920 --> 00:00:21,760 Speaker 1: he been saying about this new tariff rate. 7 00:00:23,079 --> 00:00:26,079 Speaker 2: Well, he's saying it's working. And as you mentioned, it 8 00:00:26,079 --> 00:00:29,160 Speaker 2: has just gone into effect with China about forty minutes ago. 9 00:00:29,360 --> 00:00:31,400 Speaker 2: And I'm looking at the markets right now here in 10 00:00:31,440 --> 00:00:33,400 Speaker 2: the US to see how they're reacting. In the Dow 11 00:00:33,440 --> 00:00:35,680 Speaker 2: and the Nasdaq not good, down about two and a 12 00:00:35,720 --> 00:00:38,720 Speaker 2: half percent or so. And I mean we've wiped out 13 00:00:38,720 --> 00:00:41,120 Speaker 2: several trillion dollars in the market, at least the value 14 00:00:41,159 --> 00:00:45,960 Speaker 2: of stocks since this Liberation Day was first announced. Right now, 15 00:00:46,280 --> 00:00:50,440 Speaker 2: we've got reciprocal tariffs that are going into effect or 16 00:00:50,479 --> 00:00:52,600 Speaker 2: that are in effect in fifty or sixty other countries. 17 00:00:52,600 --> 00:00:54,279 Speaker 2: I know with New Zealand it's going to be about 18 00:00:54,480 --> 00:00:58,000 Speaker 2: ten percent right now. And I think China's Commerce Ministry 19 00:00:58,000 --> 00:00:59,880 Speaker 2: has said they're going to just fight this out to 20 00:00:59,880 --> 00:01:02,440 Speaker 2: the of the trade war and they're going to continue 21 00:01:02,480 --> 00:01:04,040 Speaker 2: to stand up to Trump. So we're going to see 22 00:01:04,120 --> 00:01:06,640 Speaker 2: is what's going to go back and forth? I think 23 00:01:06,640 --> 00:01:08,800 Speaker 2: between the two countries, tit for tat or if they 24 00:01:08,840 --> 00:01:11,840 Speaker 2: can come to some kind of reasonable negotiation. 25 00:01:12,680 --> 00:01:14,800 Speaker 1: Can Congress do anything about it. We're going to look 26 00:01:14,800 --> 00:01:16,280 Speaker 1: at this a little later on the show, but I mean, 27 00:01:16,400 --> 00:01:19,040 Speaker 1: in short, they can, but then he can veto whatever 28 00:01:19,120 --> 00:01:19,400 Speaker 1: they do. 29 00:01:19,520 --> 00:01:23,200 Speaker 2: Right well, he can. I mean you've got right now, 30 00:01:23,240 --> 00:01:26,160 Speaker 2: you've got about a half dozen maybe more Republicans that 31 00:01:26,200 --> 00:01:27,800 Speaker 2: are trying to sign on to this bill that would 32 00:01:27,840 --> 00:01:31,679 Speaker 2: restrict what the White House could could do. Ultimately, they 33 00:01:31,720 --> 00:01:35,360 Speaker 2: would like to see these tariffs expire after forty days. 34 00:01:35,360 --> 00:01:37,440 Speaker 2: There was a rumor going around with the stock market 35 00:01:37,520 --> 00:01:40,039 Speaker 2: yesterday and on the floor of the Stock exchange that 36 00:01:40,120 --> 00:01:41,920 Speaker 2: the President was going to back off on the tariffs 37 00:01:41,920 --> 00:01:44,080 Speaker 2: for a ninety days. The White House called that fake news. 38 00:01:44,080 --> 00:01:47,400 Speaker 2: But even that announcement, even though it wasn't true, I mean, 39 00:01:47,400 --> 00:01:50,000 Speaker 2: made the market shot up by about a thousand points 40 00:01:50,040 --> 00:01:53,800 Speaker 2: before it came back down again. So I think anything 41 00:01:53,840 --> 00:01:56,600 Speaker 2: that we see is going to be long term manufacturing. 42 00:01:56,640 --> 00:01:58,960 Speaker 2: This isn't going to happen overnight. I mean, businesses are 43 00:01:59,000 --> 00:02:00,680 Speaker 2: going to take a wait and see attitude to find 44 00:02:00,680 --> 00:02:02,920 Speaker 2: out how these negotiations are going to continue, because they 45 00:02:02,920 --> 00:02:05,200 Speaker 2: can't just you know, build a new plant in thirty 46 00:02:05,240 --> 00:02:08,200 Speaker 2: sixty or ninety days. These things take years to to formulate. 47 00:02:08,800 --> 00:02:11,600 Speaker 1: Now, finally a judge is wanted, I pay the Associated 48 00:02:11,560 --> 00:02:14,040 Speaker 1: Press be given access back to the White House. Does 49 00:02:14,080 --> 00:02:17,040 Speaker 1: that mean it's going to happen, Well, I don't know. 50 00:02:17,080 --> 00:02:20,880 Speaker 2: It's it's it's interesting because an AP reporter photographer will 51 00:02:20,919 --> 00:02:24,320 Speaker 2: turned back from joining the reporting pool this evening, just 52 00:02:24,560 --> 00:02:26,800 Speaker 2: a couple of hours after this judge made this decision. 53 00:02:26,800 --> 00:02:28,560 Speaker 2: And this is because the White House was angry that 54 00:02:28,600 --> 00:02:32,080 Speaker 2: the AP refused to call the Gulf of Mexico by 55 00:02:32,160 --> 00:02:35,120 Speaker 2: President Trump's preferred name, which is the Gulf of America. 56 00:02:35,200 --> 00:02:37,280 Speaker 2: And you know, the government and the judge of this 57 00:02:37,600 --> 00:02:40,560 Speaker 2: has said, you know what, the AP was not demanding 58 00:02:40,800 --> 00:02:44,320 Speaker 2: extra special access, and the judge agreed with this. They 59 00:02:44,320 --> 00:02:46,239 Speaker 2: were saying in the trial that what it wants and 60 00:02:46,639 --> 00:02:48,600 Speaker 2: all it gets out of this ruling is a level 61 00:02:48,680 --> 00:02:51,800 Speaker 2: playing field, which seems fair enough. And you know, Trump 62 00:02:51,880 --> 00:02:54,000 Speaker 2: and his aides have barred the reporters from dozens of 63 00:02:54,000 --> 00:02:56,360 Speaker 2: these events since back in February right now, and the 64 00:02:56,400 --> 00:02:58,799 Speaker 2: AP's you know, kind of been one of the main 65 00:02:58,880 --> 00:03:02,000 Speaker 2: news gatherers and recent horses for pool coverage over here 66 00:03:02,040 --> 00:03:03,920 Speaker 2: for more than a century now, so it was a 67 00:03:03,919 --> 00:03:05,400 Speaker 2: big win for them, all. 68 00:03:05,360 --> 00:03:08,079 Speaker 1: Right, Dan, thanks for talking to us. I appreciate your time. 69 00:03:08,120 --> 00:03:12,119 Speaker 1: Dan mitchsen Our, US correspondent. For more from Hither Duplessy 70 00:03:12,200 --> 00:03:14,960 Speaker 1: Allen Drive, listen live to news talks it'd be from 71 00:03:15,080 --> 00:03:18,680 Speaker 1: four pm weekdays, or follow the podcast on iHeartRadio.