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Speaker 1: Now Donald Trump has promised Americans he's going to save

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Speaker 1: the economy and deal with the cost of living. Liam

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Speaker 1: dan is the Herald's business editor at large and with US. Now, hey, Liam,

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Speaker 1: so is he just going to do it through tax

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Speaker 1: cuts and tariffs?

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Speaker 2: Yeah? Yeah, it sounds like that's the formula. People are

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Speaker 2: scratching the head of bit as to how it adds up,

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Speaker 2: because he's promised one account, one count I saw was

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Speaker 2: twelve different kinds of tax cut on the campaign trail,

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Speaker 2: which talied up to if he did them all something

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Speaker 2: like three trillion dollars out of the US revenue government

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Speaker 2: revenue over the next ten years. Three trillion dollar US

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Speaker 2: dollars is quite a lot, and that of course means

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Speaker 2: you need to well you either need to fund it

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Speaker 2: from somewhere, you need to borrow a lot more, which

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Speaker 2: is why bonds.

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Speaker 1: But he's also promising to pay down debt.

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Speaker 2: Yeah. See that. There was a British Prime minister who

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Speaker 2: tried to say all that stuff and it didn't work.

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Speaker 2: Trust was sunk by the bond markets because the numbers

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Speaker 2: didn't add up. And the bond markets, as they say,

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Speaker 2: are the most powerful thing in the universe or in

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Speaker 2: the known world. Look, yeah, so it's going to be

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Speaker 2: very interesting. And I guess what the issue is how

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Speaker 2: much he decides to worry about everything he said on

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Speaker 2: the campaign trail. There's going to be some more tariffs,

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Speaker 2: and there's going to be some tax cuts of some sort,

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Speaker 2: so probably corporate, and maybe that will stimulate the economy

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Speaker 2: or the rest inside America. Putting aside the tariffs.

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Speaker 1: I mean, also, his timing is great, right, So he

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Speaker 1: is taking over presumably as the American economy starts to

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Speaker 1: pick up, as we start to get inflation under control,

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Speaker 1: so within a matter of months people will be feeling

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Speaker 1: better anyway.

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Speaker 2: Yeah, well, tariffs would be a one off, one off bump.

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Speaker 2: They are inflat they would be inflationary.

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Speaker 1: I mean, he's not going to go aheap with the

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Speaker 1: tariff tariffs.

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Speaker 2: So lam, well, the sixty percent is hard to imagine.

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Speaker 2: You know, you'd think he would have to do something

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Speaker 2: to sort of you know, having having talked about them

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Speaker 2: so much. But I mean, I think the numbers are details, right,

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Speaker 2: He's not a details guy. So yeah, I think as

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Speaker 2: long as he makes some move there, you know. But yeah,

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Speaker 2: so look, does it does it fix the economy. He's

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Speaker 2: certainly in the right place in the cycle. So it

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Speaker 2: wasn't a great place for Joe Biden because well, you know,

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Speaker 2: for the Democrats, because inflation is back in the box technically,

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Speaker 2: but it doesn't feel like it to people for a while. Yeah,

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Speaker 2: because you know, you can tell people that the economy

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Speaker 2: is great, and I think that was part of the

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Speaker 2: problem that you know, people were being told that the

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Speaker 2: US economy was great and they didn't feel like it

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Speaker 2: was great, and so it just played into that whole

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Speaker 2: narrative of being told by the establishment that they should

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Speaker 2: stop complaining.

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Speaker 1: Yeah, totally, it's going to be an interesting one, as

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Speaker 1: you were just saying to me off there, and we

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Speaker 1: have to wait until he's an office to really see

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Speaker 1: what it does.

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Speaker 2: A lot of speculation over the next few weeks and months,

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Speaker 2: and of course we could go around in circles in

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Speaker 2: New Zealand worrying about tariffs and what may or may

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Speaker 2: not happen for wine growers and so on. But you know,

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Speaker 2: and and the impact on China. But look at the moment,

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Speaker 2: markets are very happy, and they're happy because there was

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Speaker 2: a clear, clean result and also they can wipe tax

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Speaker 2: hikes off the table and more regulation off the table.

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Speaker 2: So your Kiwi savers up and you probably don't have

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Speaker 2: to worry about it till at least January twenty or

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Speaker 2: whenever the inauguration is. So that's your consolation life. You

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Speaker 2: don't like Trump, just and enjoy the market.

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Speaker 1: Run yeah to take the money, Liam, Thank you very much,

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Speaker 1: appreciate it. Liam Down, the Herald's Business editor at large.

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