1
00:00:00,040 --> 00:00:02,440
Speaker 1: The United States Business Summit is taking place in Auckland

2
00:00:02,480 --> 00:00:05,440
Speaker 1: today and boys at timely Trump obviously on his way

3
00:00:05,480 --> 00:00:09,280
Speaker 1: in tariff's looming and the US overtaking the Aussies as

4
00:00:09,320 --> 00:00:13,160
Speaker 1: our second largest export market worth more than fourteen billion dollars.

5
00:00:13,400 --> 00:00:16,599
Speaker 1: Fran O'Sullivan is the US Business Summit co chair. She's

6
00:00:16,600 --> 00:00:18,599
Speaker 1: with us this morning. Friend, lovely to have you on

7
00:00:18,640 --> 00:00:19,000
Speaker 1: the show.

8
00:00:19,920 --> 00:00:20,520
Speaker 2: Oh, thank you.

9
00:00:21,000 --> 00:00:23,919
Speaker 1: Tell me what's your pack on this whole tariff business?

10
00:00:24,000 --> 00:00:26,640
Speaker 1: Is this a negotiating tactic from Trump? Do you think

11
00:00:26,640 --> 00:00:28,400
Speaker 1: he's actually going to go ahead with them in any

12
00:00:28,880 --> 00:00:30,520
Speaker 1: know the numbers that they're talking about.

13
00:00:31,760 --> 00:00:34,279
Speaker 2: Oh, there will be an element of negotiation about it.

14
00:00:34,320 --> 00:00:36,680
Speaker 2: And I think you only have to look to his

15
00:00:36,840 --> 00:00:41,280
Speaker 2: pickers Commerce secretary, who is a billionaire, Harold Lutnik, who

16
00:00:41,720 --> 00:00:46,280
Speaker 2: was also co chair of his campaign. He has been

17
00:00:46,479 --> 00:00:50,080
Speaker 2: on record talking about tariff all the way through the

18
00:00:50,120 --> 00:00:56,440
Speaker 2: campaign himself. He's also the boss of brokerage firm Cantor

19
00:00:56,480 --> 00:00:58,480
Speaker 2: in the United States, So I mean he is a

20
00:00:58,480 --> 00:01:03,040
Speaker 2: man with considerable sway. But what he is also suggested

21
00:01:03,080 --> 00:01:05,840
Speaker 2: that there will be an element of negotiation around some

22
00:01:05,880 --> 00:01:09,600
Speaker 2: of these and that in fact he is wanting to

23
00:01:09,600 --> 00:01:15,360
Speaker 2: get obviously people back into and companies back manufacturing in

24
00:01:15,400 --> 00:01:20,080
Speaker 2: the United States. But however, there won't be blanket tariffs

25
00:01:20,120 --> 00:01:24,160
Speaker 2: on everything, so punitive language all the rest. But part

26
00:01:24,160 --> 00:01:26,760
Speaker 2: of that is, you know, practs the first steps in

27
00:01:26,880 --> 00:01:29,080
Speaker 2: a pretty high stakes poker game. Yeah.

28
00:01:29,160 --> 00:01:31,600
Speaker 1: I saw his comments action in the Wall Street Journal overnight,

29
00:01:32,080 --> 00:01:34,720
Speaker 1: and you know he's talking about countries will have to

30
00:01:34,760 --> 00:01:38,080
Speaker 1: make concessions. You know, what's correct, What sort of concessions

31
00:01:38,080 --> 00:01:38,600
Speaker 1: do we make?

32
00:01:40,280 --> 00:01:43,560
Speaker 2: Well, there's probably been a bit of pressure. Well that

33
00:01:43,680 --> 00:01:47,440
Speaker 2: may or may not be a priority for the incoming administration.

34
00:01:47,560 --> 00:01:50,800
Speaker 2: I mean it's not it wasn't initiated by them. I

35
00:01:50,840 --> 00:01:55,200
Speaker 2: think at the moment, you know, we have ponied up

36
00:01:55,240 --> 00:01:59,520
Speaker 2: and become much more in tune with the United States,

37
00:01:59,520 --> 00:02:02,120
Speaker 2: particularly the Pacific, and I think there'll be an expectation

38
00:02:02,240 --> 00:02:04,800
Speaker 2: that we continue to do that. And when you look

39
00:02:04,800 --> 00:02:07,800
Speaker 2: at the leverage that's been applied in the past, for

40
00:02:07,840 --> 00:02:12,680
Speaker 2: instance by President Trump and Trump one point zero iteration,

41
00:02:12,960 --> 00:02:15,880
Speaker 2: I mean at that time he did put considerable pressure

42
00:02:15,880 --> 00:02:18,600
Speaker 2: on NATO, for instance, to step up its defense bend.

43
00:02:18,760 --> 00:02:22,200
Speaker 2: I think we will come under pressure to do more

44
00:02:22,200 --> 00:02:26,000
Speaker 2: of that. But that's happening anyway. The big, big areas

45
00:02:26,040 --> 00:02:29,040
Speaker 2: where the government will be wanting to you know, can't

46
00:02:29,160 --> 00:02:32,360
Speaker 2: spell out to the administration. And I think some of

47
00:02:32,400 --> 00:02:37,120
Speaker 2: this was probably also covered in the conversation that the

48
00:02:37,160 --> 00:02:41,200
Speaker 2: Prime Minister had with Donald Trump several days after he

49
00:02:41,400 --> 00:02:45,560
Speaker 2: was he became president elect. So you know, there are commonalities,

50
00:02:45,600 --> 00:02:48,639
Speaker 2: there are areas where we are working with the United

51
00:02:48,639 --> 00:02:52,440
Speaker 2: States strategically, and he will want to keep emphasizing that.

52
00:02:52,600 --> 00:02:56,200
Speaker 2: But you know it's going to be interesting. And of course,

53
00:02:56,240 --> 00:02:59,200
Speaker 2: of China takes the major hit. That's a major trading

54
00:02:59,280 --> 00:03:02,720
Speaker 2: partner of New Zealand, and so if it's a conny

55
00:03:03,160 --> 00:03:06,720
Speaker 2: takes a hit, people won't want to pay quite the

56
00:03:06,720 --> 00:03:09,400
Speaker 2: same price as they're paying now for New Zealand goods.

57
00:03:09,440 --> 00:03:12,919
Speaker 2: So you know, it's the world could get quite a slap,

58
00:03:13,280 --> 00:03:16,480
Speaker 2: and that is something that you're seeing, for instance at

59
00:03:16,480 --> 00:03:21,240
Speaker 2: the D twenty just in previous days, much more circling

60
00:03:21,280 --> 00:03:24,399
Speaker 2: around Jujuenping. He's become a very powerful player as well

61
00:03:24,440 --> 00:03:25,480
Speaker 2: in all of this. Yeah.

62
00:03:25,520 --> 00:03:28,800
Speaker 1: Absolutely, and still waiting to see quite how big that

63
00:03:28,840 --> 00:03:32,520
Speaker 1: stimulus might be from Beijing as well. Friend, fascinating an

64
00:03:32,560 --> 00:03:34,880
Speaker 1: excellent analysis. Has always enjoyed the summit today.

65
00:03:34,880 --> 00:03:36,840
Speaker 2: Thank you very much thank you.

66
00:03:37,120 --> 00:03:40,360
Speaker 1: Freend O Sullivan who is the New Zealand Business sorry,

67
00:03:40,360 --> 00:03:43,440
Speaker 1: the US Business Summit coach. Here that's on in Auckland today.

68
00:03:44,320 --> 00:03:47,280
Speaker 1: For more from Early Edition with Ryan Bridge, listen live

69
00:03:47,400 --> 00:03:50,400
Speaker 1: to News Talks it Be from five am weekdays, or

70
00:03:50,480 --> 00:03:52,400
Speaker 1: follow the podcast on iHeartRadio