Latest / Best of Business / Jamie Mackay: The Country host on what Donald Trump's return to the Oval Office means for Kiwi farmers

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Jamie Mackay: The Country host on what Donald Trump's return to the Oval Office means for Kiwi farmers · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks. It'd be
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  Speaker 1: follow this and our wide range of podcasts now on iHeartRadio.
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  Speaker 2: Absolutely. Now, of course, Donald Trump is in power, and
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  Speaker 2: I see at the beginning of the program, and that
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  Speaker 2: editorial is on our website, News Talks ab dot co
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  Speaker 2: dot ins. I'm worried about only one thing, and that
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  Speaker 2: is tariff's. So here is what Donald Trump said about
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  Speaker 2: tariffs today.
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  Speaker 3: I may, yeah, but we're not ready for that yet.
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  Speaker 3: We may, we may put it wrap it because essentially,
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  Speaker 3: all countries take advantage of the US. We don't make
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  Speaker 3: any good deals of the US. It's amazing in a
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  Speaker 3: way that we exist. We don't make good deals. We
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  Speaker 3: don't have any good deals.
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  Speaker 2: All countries take advantage of the United States. That means
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  Speaker 2: New Zealand. So what does it mean for New Zealand farmers?
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  Speaker 2: And Jbie McKay joins me right now from the country.
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  Speaker 4: Hello Jamie, Yeah, good I Andrew and the new Year. Yeah,
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  Speaker 4: what does it mean for New Zealand farmers? Well, I
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  Speaker 4: had Todd McClay, Trade Minister on the show today, and
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  Speaker 4: you know he's still hoping that we can do some deal.
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  Speaker 4: Maybe a sweetheart deal with the US. We know he's
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  Speaker 4: going to get stuck into China, we know he's going
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  Speaker 4: to get stuck into Mexico and Canada or threatening to
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  Speaker 4: do so. But maybe because they really want what we've got.
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  Speaker 4: I are manufacturing beef for the burgers. We might be
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  Speaker 4: able to do something else. So what is a Trump
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  Speaker 4: presidency mean for New Zealand farmers? Well, lower dollars, good
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  Speaker 4: tariffs are obviously bad. A cold war with China wouldn't
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  Speaker 4: play out well for US. As I said, the US
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  Speaker 4: is rapidly becoming our biggest red meat market, especially with beef.
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  Speaker 4: So a stronger US economy Minister Economy under Trump could
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  Speaker 4: be good for US. And finally, Andrew, if he drills
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  Speaker 4: baby drills, that could lower world oil prices. So we're
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  Speaker 4: all holding our breath and waiting and seeing. Really yeah,
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  Speaker 4: but you know.
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  Speaker 2: How do we really affect the great global economy that
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  Speaker 2: is America? The huge economy. I mean, we're just a
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  Speaker 2: drop in the ocean. So please, as friends, do us
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  Speaker 2: a favor. Open Country Dairy has paid ten dollars for
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  Speaker 2: milk peculiar to farmers for P two. What's up with that?
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  Speaker 2: What do you make of it?
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  Speaker 4: Well, it's good news. I guess, well, it is good news.
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  Speaker 4: Remembering that Fonterra is set. It was four cast milk
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  Speaker 4: prices at ten dollars, So Open Country Dairy does it
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  Speaker 4: a wee bit different Differently. It pays out in milk
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  Speaker 4: and four periods during the year. So P two is
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  Speaker 4: for October November milk, which is sort of peak period milk.
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  Speaker 4: There is a lot in that period. P one incidentally
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  Speaker 4: was Dune through to September. The beginning of the season,
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  Speaker 4: it was only eight eighty so on a weighted basis
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  Speaker 4: up till now, we've still got two periods to go.
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  Speaker 4: Open countries sitting in the in the mid nine so
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  Speaker 4: it's a wee bit behind Fonterra, so we'll have a
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  Speaker 4: look at that one. There is another, by the way,
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  Speaker 4: Andrew Global Dairy Trade auction overnight whole milk powder and
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  Speaker 4: skim milk powder are tipsized by maybe two percent off
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  Speaker 4: the back of Fonterra, removing a bit of volume from
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  Speaker 4: the platform. Of course we're passed those seasonal peaks, but
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  Speaker 4: a good pulse auction last week. That's the auction we
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  Speaker 4: run between the gendt auctions strying out on the North
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  Speaker 4: Island might have an effect on production. And of course
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  Speaker 4: the sphares around foot and mouth disease in Germany after
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  Speaker 4: it was found in some water buffalo near Berlin. So
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  Speaker 4: fingers crossed, we get a good GDT auction tonight, Andrew,
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  Speaker 4: and that ten dollars holds for the dairy farmers of
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  Speaker 4: this country.
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  Speaker 2: They always are made. And finally, Federated farmers want New
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  Speaker 2: Zealand banks to withdraw from a UM backed banking of line.
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  Speaker 2: So tell me about that.
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  Speaker 4: Yeah, well, talking about America, Yeah, Federated farmers are saying
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  Speaker 4: our banks need to follow the lead of the six
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  Speaker 4: biggest banks in America JP, Morgan, City Group, Bank of America,
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  Speaker 4: Morgan Stanley, Wells, Fargo, and Goldman. They've all exited the
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  Speaker 4: UN backed banking alliance and they're leaving because of the lawsuits,
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  Speaker 4: potential lawsuits for anti competitive behavior within the banking sector,
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  Speaker 4: and obviously growing political pressure under a Trump regime. Now,
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  Speaker 4: this net zero banking alliance has been set up to
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  Speaker 4: align with lending policies, with everyone being carbon zero by
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  Speaker 4: twenty fifty. B and Zera is a direct member. The
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  Speaker 4: others in New Zealand, the other five big Banks, West
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  Speaker 4: Baca and ZASB and Ravo Bank are affiliated with their
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  Speaker 4: alliance through their offshore parent companies. Look Richard McIntire, the
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  Speaker 4: Banking Guy banking spokesperson from Federated Farmers, said he's increasingly
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  Speaker 4: concerned that I'm with them on this one about what
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  Speaker 4: will happen to farmers if they're not able to meet
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  Speaker 4: the bank's and missions reduction targets by twenty thirty. He's
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  Speaker 4: asking this question, Andrew, will we be effectively de banked
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  Speaker 4: and able to unable to access capital we need to
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  Speaker 4: run our business? Is a bit like we're starting to
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  Speaker 4: see with some of the petrol stations or maybe Andrew,
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  Speaker 4: under Trump, the world is changing and it's the end
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  Speaker 4: of woke as we know it.
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  Speaker 2: Jemy mackay from the Country and I thank you for
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  Speaker 2: your time today.
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