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Speaker 1: Sometimes being the grown up in the room is deeply unfulfilling. Pragmatic, sensible,

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Speaker 1: considering consequences, taking a long term view. They're all good,

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Speaker 1: admirable words, and we should take some solace in them.

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Speaker 1: But sometimes I think we'd rather just throw a plate

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Speaker 1: at the wall. And so it is with the government's

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Speaker 1: response yesterday to the Trump tariffs, essentially to roll over

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Speaker 1: and take it. Understandable, sure, sensible, yep. Frustrating, very The

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Speaker 1: government confirmed we're not in the queue to negotiate a

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Speaker 1: trade deal with President Trump's administration, nor are we interested

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Speaker 1: in taking legal action over it, and the tariff hit

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Speaker 1: will come after export has had an excellent March and

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Speaker 1: it's a shame the party music has had a bum note.

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Speaker 1: We want the growth, we want good export news, but

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Speaker 1: without the dark tariff cloud lingering in the distance. As

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Speaker 1: Trade Minister Todd mcclacy yesterday, we probably couldn't negotiate between

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Speaker 1: below the current ten percent rate, and the legal process

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Speaker 1: would be a long winded affair that would probably go nowhere.

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Speaker 1: And I'm presuming, like the majority of us who aren't

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Speaker 1: diplomats and haven't been in a room to go adding

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Speaker 1: a trade deal This is a well considered plan, one

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Speaker 1: based on experience and insider information, but perhaps also because

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Speaker 1: making a fast good have unintended consequences and result in

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Speaker 1: even higher tariffs. It also makes sense to keep our

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Speaker 1: head down into our two biggest trading partners, China and

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Speaker 1: US have sorted out their own tiff. We need to

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Speaker 1: ensure both of feeling valued by US and not be

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Speaker 1: seen to take sides as we focus on growing our

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Speaker 1: trade markets. Will the plate throwers get sensible? Trump stated

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Speaker 1: during the White House a White House news conference that

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Speaker 1: the final tariff rate with China would come down substantially

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Speaker 1: from the current one hundred and forty forty five percent.

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Speaker 1: He said the US would be very nice to China

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Speaker 1: and not play hardball. Trump's remarks towards China come on

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Speaker 1: the same day the IF relest a new report showing

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Speaker 1: the United States faces the biggest downgrade among advanced countries

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Speaker 1: due to the increase in tariffs and the uncertainty of cause.

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Speaker 1: The IMF predicts the US economy will grow one point

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Speaker 1: eight percent this year, down from the estimated two point

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Speaker 1: seven percent, and there's a forty percent chance of recession.

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Speaker 1: So as this a case of Trump blinking and a

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Speaker 1: first sign of some steps towards a stabilizing global trade

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Speaker 1: is as a move by Trump to calm the nerves.

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Speaker 1: The markets shall responded well to both Trump's tariff call

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Speaker 1: on China and his remarks he has no intention of

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Speaker 1: firing the Federal Reserve chair. I don't think anyone knows

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Speaker 1: what's to come next or how Trump will respond to

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Speaker 1: Chinese social media hashtag such as Trump admitted defeat, but

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Speaker 1: I much prefer the adult Trump rather than the one

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Speaker 1: shrowing plates. In the meantime, New Zealand shall remain patient

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Speaker 1: and diplomatic, settle in and see what change may occur

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Speaker 1: again before the ninety day pause is up. For more

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Speaker 1: from Early Edition with Ryan Bridge. Listen live to News

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Speaker 1: Talks at be from five am weekdays, or follow the

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Speaker 1: podcast on iHeartRadio