Latest / Best of Business / Jamie Mackay: The Country host on what Donald Trump's tariffs mean for the dairy sector

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Jamie Mackay: The Country host on what Donald Trump's tariffs mean for the dairy sector · Best of Business

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  Speaker 2: Now, speaking of off the back of the primary sector,
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  Speaker 2: how are we going to do off the back of
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  Speaker 2: the primary sector if they're in trouble? Are they with
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  Speaker 2: the dairy payout and what's happening around the world with
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  Speaker 2: Donald Trump? Or is that safe and lockdown? Do you think?
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  Speaker 3: Well, I'm only guessing here. You need to ring up
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  Speaker 3: Miles Hurrell or one of those guys. But I would
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  Speaker 3: imagine this year's dairy payout at ten dollars plus as
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  Speaker 3: more or less locked and loaded. Remember, there is I
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  Speaker 3: guess a down or an upside to Trump's stupidity, and
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  Speaker 3: that might be the exchange rate. But in terms of dairy,
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  Speaker 3: for instance, only six percent of our dairy goes into
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  Speaker 3: the US. Obviously red meat wine would be a far
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  Speaker 3: greater concern. And even at ten percent on nine billion dollars,
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  Speaker 3: that's nine hundred million. Yet I know it's it's not
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  Speaker 3: to be sniffed at, but it's not going to break us.
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  Speaker 3: I think the real issue and it was good to
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  Speaker 3: hear Steve and on your show, A wee bit earlier,
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  Speaker 3: Ryan that the real issue is the collateral damage, like
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  Speaker 3: to our major trading partners, especially China, our biggest trading
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  Speaker 3: part partner, plus the EU. And then you're looking at
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  Speaker 3: the damage and goodness knows what it is. No one
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  Speaker 3: knows to the world economy, potential recession, higher inflation, interest rates,
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  Speaker 3: Goodness knows where they're going to go. Reserve banks around
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  Speaker 3: the world might have to start lowering interest rates to
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  Speaker 3: stimulate economies. Look, I think we're all just stabbing in
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  Speaker 3: the dark at the moment, but you would have to say,
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  Speaker 3: I guess New Zealand's as well positioned maybe as any
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  Speaker 3: country to get through this. But we're going to watch
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  Speaker 3: with interest how Trump v.
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  Speaker 2: China goes absolutely and that thing's only heading up. Jamie,
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  Speaker 2: thank you for Then I'll let you get back to
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  Speaker 2: the pub. Enjoy yourself. Jamie McKay, host of the Country
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  Speaker 2: and on hosting duties at the spats Own House and
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  Speaker 2: Tim Tonight
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