Latest / Early Edition with Ryan Bridge / Kate Acland: Beef & Lamb New Zealand Chair on Trump's reversing tariffs

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Kate Acland: Beef & Lamb New Zealand Chair on Trump's reversing tariffs · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: This youtune from Trump on beef tariff, so scrap them.
• 0:02
  Speaker 1: Basically great for US red meat. Here we for a
• 0:05
  Speaker 1: quarter of everything. We sing to the US two billion
• 0:08
  Speaker 1: dollars worth of our ex sports joining us. Kate Ackland
• 0:11
  Speaker 1: beef and leaf a beef and lamb chair with us. Cate,
• 0:13
  Speaker 1: good morning morning. Now has this happened already has officially
• 0:19
  Speaker 1: taken place?
• 0:21
  Speaker 2: We are still trying to sort through the details on that.
• 0:23
  Speaker 2: I mean it's sort of a corner sat by surprise actually,
• 0:26
  Speaker 2: I mean it shows a week for long time in politics,
• 0:29
  Speaker 2: so not quite certain exactly when this comes into effect.
• 0:34
  Speaker 1: Does it just level the playing field? Right, It's not
• 0:36
  Speaker 1: special treatment for us specifically, it's for everyone.
• 0:40
  Speaker 2: So it's removing additional terraffs across all beef from all countries.
• 0:45
  Speaker 2: So fortunately New Zealand does have really good access for beef,
• 0:49
  Speaker 2: so breathe of tariffs. You know, we've got a really
• 0:51
  Speaker 2: large quota with an end quota teriff rate of less
• 0:54
  Speaker 2: than one percent, So as sorry as New Zealand goes,
• 0:57
  Speaker 2: this puts US in a very very strong position.
• 1:00
  Speaker 1: How much did we lose or pay and how much
• 1:03
  Speaker 1: do we pay in terrists? How much business did we
• 1:05
  Speaker 1: lose during this periods ince April?
• 1:08
  Speaker 2: So in twelve months, the quotas we're looking to cost
• 1:11
  Speaker 2: US at about three hundred and ten million dollars off
• 1:14
  Speaker 2: a base of virtually nothing, So it's a significant amount
• 1:17
  Speaker 2: of money.
• 1:19
  Speaker 1: So what do you think will happen now or well,
• 1:21
  Speaker 1: I mean, did we lose much market share in the
• 1:24
  Speaker 1: in the intervening months and will we get it just
• 1:27
  Speaker 1: get it all back now or what?
• 1:29
  Speaker 2: Look, it wasn't so much about losing market share because
• 1:32
  Speaker 2: everyone was impacted. We were impacted more than the Australians
• 1:35
  Speaker 2: or the Argentine but then there were some countries like
• 1:37
  Speaker 2: Brazil that were facing bigger tariffs than US. But what
• 1:41
  Speaker 2: we did see is quite a volume of met went
• 1:43
  Speaker 2: away from the US into other markets. Now the US
• 1:47
  Speaker 2: is a really high value market for US, so it
• 1:49
  Speaker 2: will be really interesting to see how those trade floaws go,
• 1:53
  Speaker 2: you know, whether we see less products going into markets
• 1:56
  Speaker 2: like China and more back to the USA.
• 1:58
  Speaker 1: Because do we get more money for it here.
• 2:01
  Speaker 2: Here? We do? So there is really high value market
• 2:04
  Speaker 2: for both beef and lamb. Now obviously we've still got
• 2:07
  Speaker 2: the tariffs on lamb, but.
• 2:10
  Speaker 1: Great market, but random a cap.
• 2:13
  Speaker 2: I look completely completely random, and I guess you know.
• 2:17
  Speaker 2: Although we're really positive about it, we are being quite
• 2:19
  Speaker 2: cautious as well, because it just sort of shows that
• 2:21
  Speaker 2: things can change overnight.
• 2:23
  Speaker 1: Someone wakes up on the wrong side of the bed
• 2:24
  Speaker 1: and then before you know it, it's all back on Kate.
• 2:27
  Speaker 1: Thank you, Kate, Cate from Beef and Lamb. For more
• 2:32
  Speaker 1: from Early Edition with Ryan Bridge, Listen live to news
• 2:35
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• 2:38
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