Latest / Early Edition with Ryan Bridge / Sirma Karapeeva: Meat Industry Association CEO on the impact of US tariffs on beef exports

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Sirma Karapeeva: Meat Industry Association CEO on the impact of US tariffs on beef exports · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: Well, Donald Trump promised global tariffs and he did it.
• 0:04
  Speaker 1: New Zealand exporters are finally in the firing line. We've
• 0:06
  Speaker 1: been hit with a ten percent tariff on all imports
• 0:09
  Speaker 1: into the States and across all industries, and the twenty
• 0:12
  Speaker 1: percent that the US published to calculate the tariff was
• 0:15
  Speaker 1: calculated off trade deficit rather than tariff, So that's what
• 0:18
  Speaker 1: we're questioning. So look, we are considered by some to
• 0:21
  Speaker 1: be the lucky ones because some countries have been hit
• 0:24
  Speaker 1: between twenty to forty nine percent. I'm joined now by
• 0:26
  Speaker 1: the chief executive of the Meat Industry Association, So Makada Beaver,
• 0:30
  Speaker 1: Good morning to you, sir, Good morning. Oh I'm sorry.
• 0:36
  Speaker 1: Are we the lucky ones? Oh?
• 0:39
  Speaker 2: Look, I don't know that anyone is lucky in this context.
• 0:42
  Speaker 2: It is quite quite a shock, even though it's not
• 0:47
  Speaker 2: an unforeseen shock, was forecasted for quite some time, but
• 0:52
  Speaker 2: the fact that it has transpired, as you know, as
• 0:55
  Speaker 2: quite disappointing. And I don't think anyone can count themselves
• 0:59
  Speaker 2: lucky because the impact of tariffs will have a significant
• 1:04
  Speaker 2: disruption and global trade.
• 1:06
  Speaker 1: What are you more worried about the actual tariffs on
• 1:08
  Speaker 1: New Zealand? Products or as you say, the overall effect
• 1:11
  Speaker 1: on the entire global trade system.
• 1:13
  Speaker 2: Oh, I think both of them are very much interconnected.
• 1:16
  Speaker 2: And you know, and our trade we are very globally connected,
• 1:21
  Speaker 2: with our exports going to over one hundred and ten
• 1:24
  Speaker 2: markets around the world. So when one market is in distress,
• 1:30
  Speaker 2: then that has flow on implications for other markets. In
• 1:34
  Speaker 2: this case, the US is a key importer and export
• 1:38
  Speaker 2: of beef. Therefore, the US announcement is likely to impact
• 1:42
  Speaker 2: global beef markets anyway, with a number of other countries
• 1:47
  Speaker 2: looking to redirect their products.
• 1:49
  Speaker 1: Let's just isolate the effect on you to the United
• 1:52
  Speaker 1: States of America and there are tariffs that they will
• 1:54
  Speaker 1: be putting on. I mean, how big is our trade
• 1:57
  Speaker 1: with America and how will that that will trade be
• 2:01
  Speaker 1: affected for US?
• 2:03
  Speaker 2: Well, the US currently is our number one beef export market.
• 2:08
  Speaker 2: It has billions of dollars worth of trade and it
• 2:11
  Speaker 2: has increased over the recent times, partly because there is
• 2:15
  Speaker 2: strong demand for a product in the United States and
• 2:18
  Speaker 2: also because their domestic domestic production cannot necessarily meet their
• 2:24
  Speaker 2: domestics consumption demand. So it is going to impact on US.
• 2:29
  Speaker 2: We currently trade under small quota with a very small
• 2:35
  Speaker 2: tariff and nuisance tariff is what we call it, just
• 2:37
  Speaker 2: a couple of sen sequilo. The ten percent is essentially
• 2:42
  Speaker 2: imposing over nine point three percent extra cost on our
• 2:47
  Speaker 2: exports and that is going to be significant.
• 2:50
  Speaker 1: Would you retaliate or not? Is it just not worth it?
• 2:54
  Speaker 2: Well, I think every action has an equal and opposite reaction,
• 2:58
  Speaker 2: I guess so, I'm not sure that retaliation is quite
• 3:02
  Speaker 2: the right approach. What we do need to do is
• 3:05
  Speaker 2: just work within the system as best as we can
• 3:09
  Speaker 2: and you know, argue the fact that we are a
• 3:12
  Speaker 2: good trader, good trading partner to the United States, our
• 3:15
  Speaker 2: products complementary and with the commercial angles to find the
• 3:20
  Speaker 2: best way to put our product.
• 3:22
  Speaker 1: In very good look. I wish you like going forward.
• 3:25
  Speaker 1: That is firm Cauda Peaver, who comes from the Meat
• 3:27
  Speaker 1: Industry Association.
• 3:29
  Speaker 2: For more from earlier edition with Ryan Bridge, listen live
• 3:32
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• 3:35
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