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Speaker 1: The New Zealand stock market was down about one and

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Speaker 1: a half percent almost two percent at low point today.

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Speaker 1: This reacting to Donald Trump's tariffs on Canada, Mexico and China.

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Speaker 1: The New Zealand company Fisher and Pikel Healthcare announced its cost.

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Speaker 2: Would increase as a result.

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Speaker 1: That's because about forty percent of their products are made

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Speaker 1: in Mexico for the US market, so they are affected

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Speaker 1: by that. Their shares finished the day down six point

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Speaker 1: eight percent.

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Speaker 2: Topacclaims the Trade minister, he's with me, good evening, Ryan, Hey,

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Speaker 2: it's consident. Did you expect him to go as far

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Speaker 2: as he did?

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Speaker 3: Well, Look, I think it's fair to say it was

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Speaker 3: campaigned on, It's been pretty well signaled, so not surprised

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Speaker 3: by it at all. Twenty five percent tariffs against Mexico

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Speaker 3: and against Canada, a lesser amount for China. The very

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Speaker 3: interesting thing, I think, and this is probably nuanced, as

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Speaker 3: he said, these will go on unless so. The President

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Speaker 3: of America has said he is concerned about what's happening

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Speaker 3: at their borders with those two countries, and it's obviously

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Speaker 3: he won them to engage and to make some manyful

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Speaker 3: changes there. But in the meantime, they're facing tariffs, which,

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Speaker 3: whilst we're not directly captured, is going to have an

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Speaker 3: impact upon some New Zealand businesses.

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Speaker 1: Canada, Canada and Mexico and China are obviously speaking out complaining.

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Speaker 2: Will we support them in their complainants.

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Speaker 3: Well, firstly, we're focused on what's happening in our relationship

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Speaker 3: with the US and any impact that there could be,

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Speaker 3: you know, for New Zealand exporters. I think it's important

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Speaker 3: to note that we've always had a very positive, constructive

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Speaker 3: relationship with US. The difference in our trade with America

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Speaker 3: compared to those three countries is it's a very well

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Speaker 3: balanced We buy and sell very similar amounts of you know,

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Speaker 3: of trade and investment in both directions, and therefore I

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Speaker 3: think we're in a very very different camp they are.

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Speaker 3: But there's been a lot of contact at official level

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Speaker 3: with the new administration. Prime Minister Luxeen has spoken with

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Speaker 3: President Trump directly, which was very constructive, and the Foreign

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Speaker 3: Minister he'd had ongoing and detailed conversations with his counterparts.

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Speaker 3: So we are talking to them about the importance of

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Speaker 3: the relationship and how balanced the trade is, and we're

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Speaker 3: just going to keep doing that for New Zealand exports.

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Speaker 1: We'd be stupid to join forces in singing chorus with Canada,

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Speaker 1: or with Mexico or with China. Albeit we support free

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Speaker 1: trade because we don't want to make ourselves a target,

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Speaker 1: do we. But at some point, you know, we're a

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Speaker 1: member of the wto China is taking a case there,

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Speaker 1: do we have in a position?

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Speaker 3: Yeah, well, we'll wait and see exactly what that case is.

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Speaker 3: I mean, China themselves are doing an investigation and a

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Speaker 3: beef into their market, of which we are providing information

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Speaker 3: because we're an export of beef there.

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Speaker 1: I think.

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Speaker 3: I think in as far as the W is concerned,

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Speaker 3: there have always been issues around trade. They come up

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Speaker 3: a lot, and they come up very very often, and

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Speaker 3: ultimately where it's in New Zealand's interest and we have

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Speaker 3: a role to play or we're involved, we do take

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Speaker 3: our position to speak up to today, though, our exporters

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Speaker 3: are asking us to focus on that relationship with the

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Speaker 3: US and make sure that we not only have reached

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Speaker 3: out to the new administration, we are promoting the very

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Speaker 3: fair and balanced way that New Zealand trades with the US.

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Speaker 2: We're going to get a making there soon. With Luxan,

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Speaker 2: do you think or with this, Well.

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Speaker 3: There are opportunities during the course of this year in

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Speaker 3: as far as trades concerned. My counterpart, the USTR Trade

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Speaker 3: representative career, he's not in place yet, he's still going

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Speaker 3: to go through the confirmation and so at the moment

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Speaker 3: that he has I have the ability to talk to him. Interestingly,

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Speaker 3: he was part of the Trump administration and trade last

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Speaker 3: time President Trump was the president. I was a trade

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Speaker 3: minister then as well, and we faced similar sorts of

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Speaker 3: things who were tariffs against Mexico and America and Mexico

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Speaker 3: and Canada. Then you remember they pulled out of a

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Speaker 3: CPTPP that you know in New Zealand's the forefront with

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Speaker 3: We were able to build a good relationship with that administration,

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Speaker 3: and again based upon New Zealand respecting rules and actually

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Speaker 3: you know, the trade being very very balanced. We'll be

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Speaker 3: doing everything we can to make sure they're aware of

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Speaker 3: that of the US and as soon as my counterpart

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Speaker 3: is confirmed, to me seeking at the very least a

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Speaker 3: good positive telephone conversation with him.

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Speaker 1: I've got Scott brown on, former US Ambassador to New Zealand.

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Speaker 1: From you former US ambassadors to New Zealand. He's coming

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Speaker 1: on the show after six and he's told me just

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Speaker 1: before we came on, he said he thinks we should

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Speaker 1: be going for an ft A, even with Trump and

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Speaker 1: because of that balance of trade that you've been talking about.

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Speaker 3: Well, we're free traders and we believe in a rules

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Speaker 3: based approach. You've seen last year we've done two deals

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Speaker 3: very very quickly, in surprise people actually with the UAE

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Speaker 3: and that one with the Golf States the GCC. You know,

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Speaker 3: after a long time talking.

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Speaker 1: You'd still push, you know, even though it's Trump and

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Speaker 1: even though he likes the tariff, you still push for

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Speaker 1: an FTA.

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Speaker 3: Well, what I was going to say is the likelihood

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Speaker 3: of an FDA with the US is not strong. We'll

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Speaker 3: be talking about ways to grow to a trade that's

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Speaker 3: beneficial for the two economies. I don't expect we would

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Speaker 3: have an FDA, so it's probably not going to be

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Speaker 3: the first thing I'll raised with them when I get

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Speaker 3: my call in.

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Speaker 2: Thanks for your Tom Todd Todd to play the trademan

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Speaker 2: that for more from Hither Duplessy Allen Drive. Listen live

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Speaker 2: to news talks.

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Speaker 3: It'd be from four pm weekdays or follow the podcast

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Speaker 3: on iHeartRadio,