Full Show Podcast: 04 April 2025

Episode Transcript
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Speaker 1 (00:00):
New Zealand's voice of reasom is Mike the MYC Hosking
Breakfast with Bailey's Real Estate, your local experts across residential,
commercial and rural news togs Head been.

Speaker 2 (00:11):
Then and welcome today the tariffs of the market blood
bath that's followed the trade ministers in and we sought
out that twenty v ten tariff for US overnight. Peter
Windsor former Williams f one team manager on the weekend
hit for Liam and Japan Fill got back home and
post sacking of course, and for a work Tim Katy,
you do the week which to Donold straight side Murray
Olds on the Australian campaign trail PASKI all rightay morning,
we're into its seven past six. To tell you what

(00:32):
the irony was not lost on me this week as
a couple of things job related happened. One the survey
that suggested over half of us regret our career choice.
That struck me as profoundly sad. Say whenever you want
about work and work life balance, but a lot of
ours are spent in a lifetime crafting. Virtually everyone at
least at the start has to work. I mean everyone,
of course should work because it's good for you, but

(00:52):
to have a lifetime of regret, to have not really
lived at all, or at least not fill your full potential.
Juxtaposing that was the surprise to me anyway, that I'd
been here at ZB for twenty five years. A smaller
surprise was on the same day, April one, Irony Morning
Report at Radio New Zealand was marking fifty years. I
spent a short stint at Morning Report immoderately, although ultimately

(01:14):
I think successful circumstances without word of a lie, I
have loved every day of every week of every month,
every year, not just at z B, but the forty
four years I've been in this game. Of course, I've
had bad days, had bad employers, I had ropew times,
have been sacked twice by morons. But I never regretted
picking what I do, which is a small miracle given
I've never really been able to tell anyone with any
clarity why I picked this game in the first place,

(01:36):
other than it seemed appealing. I had no mentors or
people I knew in the media. As a kid, I
listened to the radio, thought that sounds fun. As it
turns out, I was right. Other small saviors been. In fact,
not only didn't I regret it, it worked out moderately
well in terms of gainful employment, because at no stage
in the past four decades have I been able to
conjure up an alternative. I literally cannot think of anything

(01:58):
else I would want to do. I would like to think, though,
and this goes to the survey that if it hadn't
gone well or I did regret it, I would have
done something about it. Because life's big lesson is life
is short and if you aren't rolling with it, you're
fighting it, and that's no fun and it wears you out.

Speaker 1 (02:15):
Who used of the world in ninety seconds?

Speaker 2 (02:18):
Right, Welcome to the Mount Dewn. We'll do the markets
with Andrews shortly. But reactions coming from everywhere in the UK.
They see what it will mean for all.

Speaker 3 (02:26):
Weight of tariffs would be have an impact on GDP,
but particularly if there's retaliation. So I don't think it
helps us to do the retaliation and maximize the impact
on our GDP.

Speaker 4 (02:34):
American c for what it is seventy two percent that,
according to the latest yugo of poll, is the number
of Americans who believe this tariff's approach will drive up
prices here at home, and incredibly sixty four percent of Republicans.

Speaker 2 (02:51):
German Finance Minister offers either a solution or delusion.

Speaker 5 (02:54):
Both parties put in as a proposal a free trade
agreement between Meuropean Union and the United States of America
with the goal of eliminating tariffs, and that would be
the ultimate level playing field if both sides charge zero
on everything.

Speaker 2 (03:10):
Plenty more throughout the morning other matters. Nitnya who's arrived
for a state visit in Hungary. Now he can do
this without being arrested because Hungary is pulled out of
the ICC. Being doesn't like the ICC.

Speaker 6 (03:19):
It's important to stand up to this corrupt organization. The
ICC directs its actions against us finding a just war
with just means, and of course not against our tormentors.

Speaker 2 (03:33):
We can and me and MA doesn't look good.

Speaker 7 (03:35):
Over one million people have lost their homes and are
left with no food, no water, no shelter. Even before
the earthquake, there were some nineteen million people in me
Animal that were already reliant on humanitarian assistance.

Speaker 2 (03:52):
And Harry you remember him, charity Tragic Stroppy Misses Anyways,
launched an investigation sort of into himself.

Speaker 8 (03:58):
What has transpired over the last week has been heartbreaking
to witness, especially when such blatant lies hurt those who
have invested decades in this shared goal. No one suffers
more than the beneficiaries of Center Bell itself.

Speaker 2 (04:11):
Finally, the nnual Forbes Billionaires listeners out, although give them
the markets this morning, it's probably redundant. Musk three forty
two billion, will he was yesterday? Anyway, Zuckerberg second to sixteen,
Bezos third at two fifteen means you can pay for
the wedding in Italy this summer. Larry Ellison, Bernard Aneau
and family. They make up the top five buffet sixth

(04:31):
at one hundred and fifty four billion, some newcomers Bruce
Springsteen Andnold Swanson and getting Jerry Seinfelder now officially, according
to Forbes Billionaires, overall, there are three thy and twenty
eight billionaires with a combined worth of sixteen point one
tree in dollars. And let as news the world in
ninety a little bit of fighting talk out of Germany.
We've got the economy minister, a guy called Robert. They

(04:53):
probably call them Bob anyway. He claims that Trump will
quote buckle under pressure if Europe bands together over Teriff.
So let's see where that goes. Twelve past six.

Speaker 1 (05:04):
The Mic Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks.

Speaker 4 (05:10):
It be.

Speaker 2 (05:12):
Idiot effect in the car industry stillentis their pausing production
at a couple of assembly plants, one in Canada, one
in Mexico. Nine hundred US representative employees are gone or
getting temporarily laid off, along with four and a half
thousand hourly workers at the Canadian plant. Not even the
Republican seamen to this.

Speaker 4 (05:30):
Anyone who says there may be a little bit of
pain before we get things right.

Speaker 1 (05:35):
They need to talk about farmers who are one crop
away from bankruptcy.

Speaker 9 (05:38):
They don't have time.

Speaker 10 (05:39):
I think Wisconsin will be particularly hard hit with all
the manufacturing and agricultural interests.

Speaker 11 (05:44):
I would have thought they would have been.

Speaker 2 (05:47):
Less dramatic, was significant and more targeted from their Republicans.
Quarter past six from JMI Wealth and Andrew Keller had
good morning, Good morning Mike to crunch us through the encounterage.

Speaker 12 (06:02):
Oh boy, how long have we got this morning, Mike?
How long have we got? Look By now I suspect
most listeners will have caught up with some of the
detail around Liberation Day.

Speaker 2 (06:12):
The bottom line is the tariffs were announced.

Speaker 12 (06:14):
We're probably a little bit deeper than had been expected,
leaving Mike what I have characterized as a miasmic veil
of protectionist bully boy trade tactics that will now linger
and then the future will inevitably weigh on ongoing global
geopolitical relationships. I mean, President Trump announced it says Day.

(06:35):
He sold it as supposedly ushering a new golden age
of America, sort of channeling an economic milieu that was
last seen decades ago in the US, and he's essentially
moved the global trading environment back into very much a
protectionist mindset. So leave all that kind of rhetoric aside,
let's look at some of the facts. Look, there are
a range of tariff outcomes. These are reciprocal tariffs. They

(06:58):
range from the universal level of temps which has been
applied to New Zealand, through too much higher rates for
the likes of people like China and Vietnam and hardest
that were what were termed the bad actors. These are
and these nations specific tariffs are on top of the
previous announced measures, so you need to understand that. So
China has been hit with a thirty four percent tariff,

(07:18):
but that's on top of the previously around twenty so
you got fifty four percent import tariffs on goods from China.
Look immediately, Mike, markets have reacted well. They've given a
fairly clear message I think being sent back to the
Trump administration. The Dow Jones is down three percent the
estimatesism looking at now. Of course it could change over

(07:38):
the next few hours. The S and P five hundred
down three point seven six percent, and the Nasdaq down
four point nine percent. So look, they're large moves. They're
not unprecedented, but they are notable. Interesting over night, Mike,
the European markets sold off less than that. The European
what we call the stops fifty index was down three
point six percent. And I just listened to an analyst,

(08:00):
actually a European equity and has who said that the
European companies actually produce quite a lot of what they
sell in the US. They actually produce it actually.

Speaker 2 (08:09):
In the US.

Speaker 12 (08:10):
So the tariffs are going to hit them to a
lesser degree than maybe feed. So that's something to research
over the course of today US long term interest rates, Mike,
tenure bond, they're lower and yield they're heading towards four percent.
They rub as high a sort of earlier on this
year four point eight. That's because the expectation is the
US economy will slow and despite the potential lift and inflation,

(08:31):
we could actually see a more flexible federal reserve, so
lower FED funds rate, the US dollar is weaker. That's
on the back of growth fares. So you've seen the
New Zealand dollars higher. Look, Mike, there's still a lot
of water to go under the bridge over the next
few days. We've got to see how other people react.
If you got us job started this evening, so this
will be a moving picture, a moving tapestry of responses

(08:53):
over the next few days.

Speaker 2 (08:54):
Indeed, we've got the Trade minister out to seven o'clock.
So where does it leave us specifically, Well, look here, Mike.

Speaker 13 (09:00):
Well, first of all, the theory.

Speaker 12 (09:01):
Behind the tariffs. You know, this is what I call
the evil genius theory. There is this scenario which it
actually works.

Speaker 11 (09:06):
You know, production.

Speaker 12 (09:07):
Surges back to the US. Companies commit to US production,
you get a surge of invest with lots of new jobs,
the inflation lifters is benign, and temporary wages go up.
In America is great again, but certainly that does seem
a little bit, a little bit of a stretch in
the short term. Now, the direct impacts for New Zealand,
they actually do seem relatively contained. So just just work

(09:28):
through these simple numbers. Okay, we've got roughly nine billion
dollars of annual exports.

Speaker 11 (09:33):
To the US.

Speaker 12 (09:34):
Now, in the worst case scenario, we have to absorb
a ten percent in point tariff. So these aren't exact.
These are just we're just sort of back of the
envelope type numbers. That's nine hundred million dollars of lost
export revenue. Now that's a big hit for the export
is obviously, but it's actually quite a small percentage of
GDP and that's worst case. Look, we do have companies

(09:54):
that import or that export directly to the ES, people
like Fish and Pipal Healthcare. There's price did drop on
the open yesterday quite dramatically, but subsequently recovered as sort
of analysts reworked their numbers and said, look, this might
not be as bad as we think, and I think
it actually closed up small yesterday. You've got companies like
scaleer Up, You've got delegates selling the wine that are

(10:15):
obviously impacted, but it's you know, maybe it's less than
might have been fared. Those are direct impacts, Mark, I
think what we probably want to talk about are the
indirect effects. Now, we're a small, open trading economy, so
our access to our second biggest trading partners now affected.
But our biggest trading partner, China has been hit pretty hard,

(10:36):
so you know, the bigger picture impacts. We're not too
sure what we're going to be yet. Like global trade
is elastic, we are going to see changes, but it's
going to take a little bit of time to understand
the full implications.

Speaker 2 (10:48):
Right O, brace yourself, give us these numbers.

Speaker 12 (10:50):
Oh, here we go, let's just run through good news. Friday,
Dale Jones is down one thousand to two hundred and
eighty six points. That's three percent, so it's forty thousand,
nine hundred thirty nine. The S and P five hundred
is down two hundred and fourteen points three point seven
six percent, five thousand, four hundred and fifty eight, and
the Nasdaq is down eight hundred and seventy six points.

(11:11):
It's just clicked on five percent four actually sixteen thousand,
seven hundred and nineteen overnight. The forty one hundred lost
one point five five percent eight four seven four. The
Niket lost two point seven seven percent, closing at thirty
four thousand, seven hundred and thirty five. The Sheghai composite
down eight three three four two. The Aussis lost just
under one percent seven eight five. The ends the NEX fifty.

(11:34):
Big cheer out there, please. It was up eighteen points
point one five percent. Remarkable twelve thousand, three hundred thirty
eight Key dollar point five to eighth nine against the
US point nine four one nine ossie point five two
six two, Euro point four four to three to two
against the pound eighty four point nine one. Japanese en
gold surprising me has actually come down a bit three thousand,
one hundred and nine dollars and Brent crude. This has

(11:57):
been hit by global growth. We car sixty nine dollars
eighty five cents.

Speaker 2 (12:02):
Yeah, but a very good weekend. We'll catch up next week.
Good on your mate, Andrew kellaher Joemiwealth dot co dot
m Z Pasky. The Zone Media News Dezone finalized their
deal with Foxtail across the Tasman are three point four
billion dollar sale. They got the a Triple C clearance.
In Australia, it'll be known Foxtail as a dezone company.
The main reason I mentioned that is we're still looking

(12:23):
to see where the dezone is part of the rugby
equation in this country. So watch this space. Six twenty two.
You're a News Talks edbo.

Speaker 1 (12:33):
The Vike asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks AB.

Speaker 2 (12:40):
Looking on to catch up with Murray Old's later. The
campaign's getting interesting in Australia. Elbow fell off a stage yesterday,
which was interesting. It didn't get hurt, so that was
that was the good news. They've agreed to a second debate.
First debate is this coming Tuesday on Sky so we'll
be able to watch it. They've agreed to a second
debate on the ABC the sixteenth of April. Seven and
nine are still this to try and get their own debates.

(13:02):
As regard the tariffs, Richard Arnold, of course we got teen.
We'll talk to the Trade minister after seven. South Africa
got thirty.

Speaker 10 (13:09):
Is absolutely devastating to the South African economy. I mean
South Africa. South Fruit manufactured projects of products like autos
and metals to the US, and so Afrika exports around
ten percent or more to the USA. It's really really
going to impact on.

Speaker 1 (13:30):
The ecomy trending now with ms Wells keeping Kiwi's healthy
four years.

Speaker 2 (13:36):
I saw this yesterday. I thought, jeezus, it's good. This
lies from guy Richie. A lot of Indiana Jones about
it's called Fountain of Youth where the stars go looking
for Fountain of youth is absolutely.

Speaker 11 (13:50):
Charlotte, have you been well?

Speaker 3 (13:52):
That might take a while.

Speaker 13 (13:53):
We haven't spoken any years.

Speaker 11 (13:57):
That a brotherhood want to see his sister.

Speaker 9 (13:58):
Are you in trouble? And why I would you say that?
Do you only call when you're in trouble? That's not
true and which genius will explain to me. Why iron here?

Speaker 2 (14:09):
Keep cat in the bag until I release it?

Speaker 14 (14:10):
Yeah?

Speaker 9 (14:11):
Great, we're looking for the fountain of youth. Oh please, no,
I just say you are the cat in the bag.

Speaker 2 (14:17):
Cat wasn't happy in the bag.

Speaker 15 (14:19):
There's a reason the fountain was hidden.

Speaker 16 (14:24):
You can't succeed, So you really think you're going to
find a magic pool of water at the end of this?

Speaker 2 (14:31):
I don't know, but I think you want to find out. Krazinski,
John Portman, Natalie, their brother and sister. You've got Isaa
Gonzalez and you will have picked the boy Stanley Tucci
not in theaters straight to Apple May twenty third. From
what I saw yesterday, looks good.

Speaker 11 (14:49):
Mike.

Speaker 2 (14:49):
I know you're not a moron, but you didn't mention
the thirty percent tariffs that the EU charged the US
or the obscene tariffs that Canada charges the US on deary.

Speaker 15 (14:57):
We have.

Speaker 2 (14:58):
We've mentioned that extensively, but let me come back later
and explain more on that in case you are still
a little bit confused. Meantime, Phil Goff is back in
the country and talking this morning. Does he have any
regrets about the second.

Speaker 1 (15:12):
The Mike Hoskume in safeguld Engaging and Vital the Mic asking,
Breakfast with a Vida, Retirement, Communities, Life Your Way, News,
togs Head.

Speaker 2 (15:22):
Be Carnage and Paul Arts and Tom McClay Tariff Minister
or Trade Minister after seven o'clock, which are done stateside
in a couple of moments, twenty three minutes away from
seven other matters. Last time we heard from our former
UK High Commissioner Phil GoF, he was an asking a
question that would get him sacked because the Foreign Minister
said his position was untenable, and that was that. Phil
Goff has his ladder back in the country and he's
with us. Very good morning to you.

Speaker 17 (15:43):
Yeah, good morning, Mike.

Speaker 2 (15:44):
Good to be back on the land.

Speaker 17 (15:46):
Oh, fantastic being back in New Zealand. I'm not really
looking forward to going from one winter and for another,
but we've had a great week up to the rain
we're getting now, so lovely to be back home.

Speaker 2 (15:57):
On the day you asked the question, did you know
what you were doing?

Speaker 11 (16:01):
Yeah?

Speaker 17 (16:02):
Absolutely, I've given some thought to it, and I thought
there was a serious and important question that, excuse me,
needed to be asked about the Trump administration's policy and
seeking to appease Russia, which was clearly what they were doing.
Did they understand the lessons of history? Did they understand
the things that you and I know about that had

(16:22):
happened pre World War Two when Nevill Chamberlain had tried
to appease Hitler. And the result of appeasing and aggressor
is not to satisfy them, but to wet their appetite
for more regression. I don't believe that the Trump administration
understands that. I thought it was a serious and important
question and it needed to be asked.

Speaker 2 (16:41):
Was it a question more of a former foreign minister
than a high commissioner? Probably?

Speaker 17 (16:46):
Look a career civil servant is training to be very cautious,
not to express any strong value that they may hold
personally in the question they asked. I thought it was
a critical question. The people in the room thought it
was a critical question, but no other diplomat wanted to
ask it. I'd just had a conversation though, the previous

(17:07):
night with the spouse of one of my colleagues who
was a high commissioner, and she was a teacher, and
she talked about the playground and the bully would abuse
the victim. But the people that enabled that to happen
were the people that stayed silent. I didn't want to
be an enabler. I think that frankly, the lies that
Trump was talking about Zelensky being a dictator Ukraine starting

(17:30):
the war needed to be called out. He needed to
be challenged. Otherwise we were complicit in what he was doing,
and what he was doing was betraying the struggle of
the Ukrainian people for their freedom, their democracy and their nationhood.

Speaker 2 (17:43):
How big a surprise was the second.

Speaker 17 (17:47):
I thought I'd taken the question right up to the line.
I didn't think that I'd crossed the line, and I
believed actually that the question I was asking must have
been the question on the minds of the New Zealand
government and certainly most of the people that I was
talking to back home in New Zealanders. Well, but it's
the minister's prerogative to decide who are his head submission.
I have no complaint about removal from office.

Speaker 1 (18:08):
That was the price.

Speaker 17 (18:09):
If that was the price that I had to pay
for saying something that I thought was really important, I'm
prepared to pay the price.

Speaker 2 (18:15):
Was it convenient to Saki? Was there an element of
that to it or not?

Speaker 17 (18:20):
It's really hard to know. I mean, I have had
no conversation with the Foreign Minister. He said that it
was a difficult decision and he held me in high
esteem personally. If I'd been Foreign Minister, would I have
done that to somebody that had asked a question that
probably I thought was a relevant question. The answer is no,
I wouldn't have done that. But then he's the minister.

(18:40):
It's his prerogative. I've got no complaint about his action.

Speaker 2 (18:43):
What are you going to do now?

Speaker 17 (18:45):
I do a bit of thinking and writing. I've been
approached by a publisher to see if I wanted to
write a book, and I'm going to take a while
working on the farm. I'm doing a bit of chainsaw
therapy and wood splitting therapy. I'll think about it for
a while and then consider my next steps, but I
don't think it'll be going back into politics.

Speaker 2 (19:03):
Good to catch up, presci out at Phil Goff Form,
my UK High Commissioner. The last time I saw him,
I was in his office in London, just ahead of
the coronation. Mike, if tariff's are so bad, and Trump's
tariffs are reciprocal, why don't all countries just drop their tariffs?
Good question? Israel did and look what happened. Seventeen percent
nineteen to two.

Speaker 1 (19:23):
The Mic Asking Breakfast Full Show podcast on iHeartRadio powered
by News.

Speaker 2 (19:28):
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(19:50):
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(20:11):
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He might on many things, I'm not aligned with Philbert
on this. I totally agree with them the school yard
bully and Alogy nails the point that Ollie. The only
problem is it's not the quick you. We may all
agree with it, but you don't ask that question as
a high commissioner. And that's why you get sacked essentially

(20:33):
at the end of the day. Right the tariffs Italy,
some matters.

Speaker 9 (20:36):
Are going to be less effective.

Speaker 1 (20:38):
They're more expressive.

Speaker 18 (20:39):
We see the Barolos or the.

Speaker 7 (20:43):
Brunellos, those ones that they have already quite of an
important price point.

Speaker 9 (20:49):
They were going to be less effective.

Speaker 7 (20:51):
But nothing to be to be happy about.

Speaker 2 (20:56):
No, because you pay anything for the Barolos.

Speaker 11 (21:00):
Britain.

Speaker 19 (21:00):
It remains our belief that the best route to economic
stability for working people is a negotiator deal with the
US that builds on our shared strengths. However, we do
reserve the right to take any action we deem necessary
if a deal is not secured.

Speaker 1 (21:17):
International correspondence on Youth Talk said so in America Original morning,
what do you Mike fairbit to talk about?

Speaker 11 (21:24):
Richard?

Speaker 20 (21:25):
Yeah, starting with money, money, money, New Zealand stocks might
have taken a beat, but here if stock promises are
off the cliff. In response to the Trump Teriff's Wall
Street Rilling Dour is down by a bit over three percent,
with a twelve hundred and eighty points sell off at
the minute. It was down by some sixteen hundred points
at one stage. To take heavy nezzek off by nearly
five percent, and if you look at some of the

(21:46):
biggest US companies with global supply lines, Apple has lost
nearly nine percent in this latest round, almost three hundred
billion dollars in value. The apparel stocks are way off, also,
including Nike, Ralph Lauren because they get supplies from China
and other parts of which now are on the Trump
high tariff list. Trump is being saying on the tariffs, of.

Speaker 9 (22:04):
Course they do it to us, and we do it
to them.

Speaker 20 (22:07):
Well, that has caused confusion, has it not. With his
Show and Tell prop yesterday, Trump claimed New Zealand has
a twenty percent tariff on US exporterers. New Zealand's Trade
Minister Tom McClay, as you've been noting, the NISS has
it average a about one point nine percent. Australia making
a similar case, saying that Trump tariffs on Australia are
a fraud and arguing that controls on beef, pork and

(22:29):
food imports are due to biosecurity. Scott the Sant, the
US Treasury Secretary.

Speaker 17 (22:34):
Is advising, do not sit back, take.

Speaker 20 (22:37):
It out Europe, China, they say they intend to respond
with strength. As you've been hearing meantime, it's being noted
that there are no US tariffs on Putin's Russia. There
are tariffs, however, on the Australian territories of McDonald Islands Antarctica,
where no people live, but there are lots of penguins,
so if those penguins are ever an economic threat, might
watch out. In There's country, there are warnings that chances

(23:00):
of recession have increased prices on almost everything expected to
go up, as Trump allays say it's only a brief concern,
a brief aus in what several years. The number of
Canadians planning to travel to this country is plummeted, with
four million fewer Canadians expected to come here this year,
and official is saying there's a lot of anger stilandis
which used to be Chrysler says it will idle their

(23:20):
car plants in Canada and Mexico for the minute, Ford
saying they have a lot of existing stock and they
will keep prices low for some weeks. Then what, well,
we don't know. Meantime, four Republican senators split with Trump
and voted to try to stop Trump's Canada tariff, saying
there is no economic emergency as the White House has
been claiming there Susan Collins, Lisa Mkowski, Ran Paul and

(23:41):
a longtime Republican Senate leader Mitch McConnell. But the Republican
Speaker Mike Johnson has moved to block any vote on
this in the US House, so using political tricks to
keep his party in tow.

Speaker 2 (23:52):
Now, elon is he going or staying? What's happening? Yeah,
it's become a big question.

Speaker 11 (23:57):
Now.

Speaker 20 (23:58):
He was brought in initially fo one hundred and thirty days,
but that was something that always might have been extended.
Now Musk is putting out some feelers about this, and
so was the White House. Musk saying his loss in
that was consonant Supreme Court election. We must put in
what some twenty million dollars for a campaign where he
lost in Trump country by about ten percentage points, Musk

(24:20):
saying now he expected to lose. It's only money, folks.
Other Republican lawmakers are worried by the political shifts. They
are singing with some of this. Trump now saying of
his chainsaw wielding crony.

Speaker 21 (24:32):
I think he's amazing, but I also think he's got
a big company to run, and so at some point
he's going to be going back.

Speaker 20 (24:37):
Well, we see how Tesla is being savage, don't we
buy the backlash? Over the most political Trump says it
will be a point at which the secretaries will be
able to do this work. In recent interviews, Musque has
sounding got to say somewhat emotional over the protest that
he is facing. So yeah, is he tiring of this
political game?

Speaker 2 (24:54):
On coment, go well and we'll catch up on Monday.
Richard on Steitz. By the way, Waltz Mike regularly set
up chats on Signal to coordinate official work on issues
including Ukraine, China, Garza, Middle East policy, Africa, and Europe.
That's from Politico this morning, claims confirmed by four people
who were personally added to the chats. Two of them
had direct knowledge of at least twenty chats. All four

(25:17):
saw instances of sensitive information being discussed, so that one
hasn't gone away. Meantime, if you want to read the Economist,
this is how we got to the calculation. Allegedly, Trump's
grasp of the technicalities was pathetic. Their words, not mine.
Trump's grasp of the technicalities was pathetic. He suggested the
new tariffs were based on an assessment of a country's
tariffs against America plus currency manipulation are the supposed distorse them,

(25:40):
such as value added tax. But it looks as if
officials set the tariffs using a formula that takes America's
by a lateral trade deficit as a share of goods
imported from each country and halves it, which is almost
as random as taxing you on the number of ours
in un name Trade Minister Todd McLay shortly ten to
seven of the.

Speaker 1 (25:58):
Mike Hosking breakfast with Vita Retirement Communities News Dogs head Bajof's.

Speaker 2 (26:03):
Getting some level come back to that in the moment, Canada.

Speaker 22 (26:06):
They are all unjustified, unwarranted, and in our judgment, misguided,
and we are already seeing the consequences. Just last evening,
workers from Uniform Local four four four, with whom I
met last week, learned that their auto assembly plant in

(26:26):
Windsor will be shutting down for at least the next
two weeks. That's three six hundred workers who are now
out of work, not by their choice, workers who now
worry how they're going to put food on the table
and pay their bills.

Speaker 2 (26:44):
Germany, the Youngston toilent Chi.

Speaker 23 (26:46):
I believe the latest decision on tariffs by the US
President are fundamentally wrong. This is an attack on a
trade order that has created its prosperity all over the world,
a trade order that is essentially the result of American
and devils. The entire global economy will suffer from these
ill considered decisions.

Speaker 2 (27:05):
Lutnick.

Speaker 5 (27:06):
Let Donald Trump run the global economy.

Speaker 15 (27:08):
He knows what he's doing.

Speaker 1 (27:10):
He's been talking about it for thirty five years.

Speaker 12 (27:12):
You gotta trust Donald Trump in the White House.

Speaker 24 (27:14):
That's why they put him there.

Speaker 2 (27:16):
Posking, I was with Phil Goff Mike at the White
Tangy Ball in London couple of weeks before a sacking.
I'm not a labor supporter, but what a statesman, fantastic
ambassadory was. He should never have been sacked. Winston's on
the wrong side here, Mike, having heard Gof's explanation. Like
him or not, he was right to say what he did.
This puts Winston on the wrong side of history. So
there you go, Times two five minutes away from seven.

Speaker 15 (27:37):
Well, the inns and the ouse. It's the fizz with business.

Speaker 1 (27:41):
Timer, take your business productivity to the next level.

Speaker 2 (27:44):
At some point this morning, I may work you through
some of the countries who have been particularly hard hit
and look at the disparity in trade and what sort
of Trump was thinking and trying to go back at them.
Vietnam has been hit really badly. A lot of major brands,
of course, moved their base to Vietnam from China. They
wanted to avoid repercussions between the US and China, so
that went well for them.

Speaker 15 (28:01):
Not so.

Speaker 2 (28:02):
Imports from Vietnam to the US grew by nineteen percent
last year. So at two thirty four billion. New Zealand,
they've got forty six percent by way of taris forty
six So Nike manufacture anywhere between a quarter and a
half of their shoes in Vietnam. They're already predicting a
double digit percentage sales drop for Q two and now
this shares have fallen about thirteen percent since the announcement.

(28:23):
Addi Das or Adidas thirty nine percent of their shoes
are made in Vietnam. There years are down twelve. Deckers brands,
they're the ones who make Uggs and the Hoker shares
down fifteen. Steve Madden, they're into shoes as well. America's
most successful shoe designer. In fact, there shares down sixteen
as in percent vf they make your vans, your timberlands,
your north face. Seventeen percent of their products are made

(28:43):
in Vietnam. There years are down twenty six other big
industry is furniture. About fifty six percent of furniture coming
into the States is from Vietnam. Who knew big player
is wayfair? Their shares a down twenty five percent as
of six o'clock this morning. So just to address the
text earlier on the part I can justify, if not
agree with, is that when you're American and you put

(29:05):
something into a country and that country goes, well, if
it's American, we're going to tax you twenty percent or
tariff you're twenty percent. So America then goes, well, we'll
see you twenty percent. That part I get. There's an
element of truth to that aspect of trade, but generally
it's not broad based. Generally it's on individual products. So
somebody like Britain goes, will tax you fifteen percent? On

(29:26):
New Zealand, lamb will go well, we don't because we're
free traders. But you know another country might go well,
we'll tax you fifteen percent on wine, and therefore it's
not across the board. What's unusual about Trump? It's across
the board. He's also what's unusual about Trump tariffing countries
that have no real tariffs ie New Zealand or Australia
or the aforementioned Israel who dropped their tariffs. They had

(29:48):
some tariffs against US products, they drop every single one
of them, and yet Trump whacked them with seventeen percent.
So on that aspect of the announcement, there is literally
no logic what so ever. The Trade Minister Todd McLay
after the news which is.

Speaker 1 (30:04):
Next news, opinion and everything in between, the mic Hosking
breakfast with the range Rover villare designed to intrigue and
use toks dead being.

Speaker 2 (30:15):
Seven past seven, So where are we at this morning
in this new world of terrorists? Possibly a trade warren
is the confusion over our ten slash twenty percent sorted
trade Minister Todd McClay with us good morning, my good morning,
ten or twenty.

Speaker 21 (30:28):
Well, we will be facing ten percent, as every country
the world will although many others obviously have will have
a higher teriff rate than that. There was confusion about
where they got their numbers in as far as what
they think New Zealand's tariff rate applied against US exports
and into New Zealand. Actually, our average rate is about
one point nine percent for the US. It seems they've

(30:50):
got some unusual formula to come up with twenty percent.
That's not correct. It's wrong, and our officials are starting
the process to correct.

Speaker 2 (30:57):
So you still no further ahead this morning than we
were yesterday. Is it hard to get to a Trump official?
Given I'm assuming the whole world is trying to get them.

Speaker 21 (31:06):
They're very, very busy over there.

Speaker 11 (31:08):
I think you're right.

Speaker 21 (31:08):
A lot of countries that's face twenty thirty forty cent
tariffs are making contact. I expect to beloved negotiation. Our
people have reached out, but we'll just work through this.
I mean, ultimately, they are wrong. We don't have a
twenty percent tariff against the US. But putting that aside,
the lowest tariff rate in any country the world faces
is ten percent. So we want to fix that for

(31:29):
reputational reasons. But it's not like the shape.

Speaker 2 (31:31):
What if you can't tell? But here's your problem, Todd.
I mean, what you may think is right, they may
not care about can we handle twenty.

Speaker 21 (31:38):
Well, so no, so we're not facing a twenty percent teriffrate.
We're only facing ten percent. What they've said is that
our the teriffyct US exports Faceingo New Zealand is twenty percent.
Then they've put us on the lowest band of tariff,
which is ten percent. So we're not going to be
having a higher tariff rate than that it is ten percent.
We just want to get the record right because actually
one point nine percent is a lot different.

Speaker 2 (31:59):
Than a lot of people texting me. They see they
claim Trump SU's GSTVA to all that stuff as a terriff.
Is that part of the calculation? Do you think, No,
it's not. In fact, some thing's come out overnight. I've
just had a quick report that some wanting a very
quick read of it. It seems what they've done is
they've taken our exports of the US at nine billion dollars,
their imports in New Zealand about eight billion dollars one

(32:22):
billion dollar difference, applied that to their exports, which comes
to a twenty percent difference in the value of trade.

Speaker 21 (32:28):
And so they're saying it's twenty percent. That's not a
teriff rate. I think what they're actually saying to some
countries of the world is, you know, you you sell
us more than you buy from us. We want you
to buy more. But it's not the way tariff rates
are worked out, and will will will go. It's I mean, ironically,
and buy a new airplane the next week or so
or next month or so, and you know it'll swing

(32:50):
in the other direction. So we'll make that case to them,
but it won't change the ten percent because that's the
bottom that they've said they're putting on any country.

Speaker 2 (32:57):
So we're buying one or two aeroplanes for the air force.
Todd Well, I.

Speaker 21 (33:02):
Mean, as you know, I went up to up to
Japan with the Peer. We stopped in an aeroplane in Papa,
New Guinea for an extra day. I'm all in favor
of buying aeroplanes exactly.

Speaker 2 (33:13):
Ultimately, where do you think this goes? Is this another
three and a half years of Trump and then we'll
get the will back in order or is this permanent issue?

Speaker 11 (33:21):
Well?

Speaker 21 (33:21):
Look, look, I think over the coming days and weeks,
we're going to see the announcement yesterday change. Different countries
of the world are going to react to it. I
think we are going to say, see escalation and retaliation
of the European Union is going to put things in place. China, Well,
that's not good for world trade. It's not good for
New Zealand. Interestingly, a number of the exporters I'm talking
to now, they're able to digest it. They're telling me

(33:42):
they see more than just opportunity at market summer, saying
compared to their competitors who are facing high TWERF rates,
they might be able to sell more. And there's an
economist in New Zealand over night saying that actually we
could see our trade grow. I'm not sure about that.
All I'm saying is I think there's a way to
go yet before we see what this means. But if
other countries of the world put in place significant terrace,

(34:04):
it is going to be a challenge of the world's
economy and it will be a challenge for your tail
next quarters.

Speaker 2 (34:09):
Just real quick, does it help it to us out
with India? They got whacked hard. Do we turn up
as a free trader and go, you see those guys,
this is what we want to do and they look
at us more kindly.

Speaker 21 (34:18):
Yeah, I discussed this with the Indian Trade Minister when
I was here a couple of weeks ago, when we
lots of negotiation, we've both agreed to respective of what
might happen around the world with the US, we can
push on and get our deal done. We have capacity
on both sides to be dealing with other nations and
to negotiate. But certainly, you know, I think in as
far as our discussion with other countries about getting barriers down,

(34:41):
creating certainty, it does help.

Speaker 2 (34:43):
Yes, good, have a good week. I appreciate it. Tom McLay,
our Trade minister, eleven past seven pask Health update midsay
for going to be able to fast track new medicines
within thirty days if they're recognized by a couple of
other jurisdictions. I think that's the act idea and report
from Health New Zealand out also shows improvements and three
out of five quarterly targets good. But then it's got
a bit third will this week with these headlines around

(35:04):
Nelson Gismond hospitals. Anyway, the health men's assuming in brown
with this morning good morning make in totality this is
a quagmire, isn't it? Being Minister of Health is just
a gargantuan quagmire.

Speaker 15 (35:16):
Ho Loock Mike.

Speaker 25 (35:16):
I wasn't appoint Administer of Health because everything's fine. There's
a lot of challenges and we need to fix them
and I think the quarterly Update which was put out
yesterday shows some of those areas that we need to
need to fix, particularly around elective surgeries, which is hips, knees, cataracts.
There's too many people waiting too long to get the
surgery they need. But that's why we put back the

(35:37):
health targets to highlight these issues. You can't manage what
you don't measure, so we've put those targets in place
to get the system focused on delivery for patients.

Speaker 2 (35:46):
On the two that you haven't hit first specialist in
elective treatment, they're still going backwards. Will that turn this year?

Speaker 25 (35:53):
Yes, So that's why we've got the Elective Boost in place.
That's around actually outsourcing more electives to the private sector,
working across both the public and private system to actually
get people the care they need when they need it.
And look, you know that that's something which we need
to be doing more of, actually working across the private system,
make sure we're maximizing the amount of hips, knees, cataract

(36:14):
operations that can be done so people can get that
treatment done quickly. So we've already put fifty million dollars
into that until June. Obviously we're putting the budget together
for the next financial year. We won't want to get
as much done as possible to get Keywis the care
they need when they need it.

Speaker 2 (36:28):
Nelson and Gisbone. How much clickbait? How much third world?

Speaker 24 (36:33):
Oh?

Speaker 25 (36:33):
Look, there are certainly challenges Ibarked Health New Zealand to
work closely with those hospitals to find solutions. In terms
of Nelson, they've got a team going in there to
work with the local clinicians and put to plan together
to address those issues. And in terms of Gisbon, there's
an active recruitment playing in place. They've got about eleven

(36:54):
SMOs which have been recruited but not yet started. Another
ten to twelve in the pipeline in terms of various
to either at jobs advertised that or in the recruitment process.
So does work under way? Look, I would say, you know,
some of these unions are causing trying to cause a
lot of noise around some of these challenges and encourage
them to work closely with Health New Zealand to actually

(37:16):
just address the issues and get on with it.

Speaker 11 (37:18):
Good.

Speaker 2 (37:19):
All right, have a good weekend too, Simon Brown, Health Minister. Mike,
how is it going to affect a New Zealand company
that manufactures in China like Zoru? Good question, zeru are
in America, they're here, They're in China. If you manufacture
in China and you sell to America, you will be
tariffed sixty seven percent. The fact that they're a New
Zealand company and we know their name, is no different
from any other company in the world that does a

(37:39):
bit of business in China and a bit of business
in the United States. Fourteen past seven, The.

Speaker 1 (37:45):
High Asking Breakfast Full Show podcast on iHeartRadio powered by
News Talks at.

Speaker 2 (37:50):
B Brad Setster is a former US Department of Treasury economist,
teams with us after seven to thirty on this trade business. Mike,
does New Zealand wine now have a ten percent advantage
over French wine if exporting to the US? Shawn, Good question, Yes,
because e has been tagged twenty percent. We've been tagged ten. Mike.
How New Zealand's economy or economic recovery is going to
be affected once again. Very good question. Surely it can't

(38:10):
help confidence, No, it can't. It's to the tune of
about nine nine hundred million dollars, which is a lot,
but in terms of a percentage of GDP, it is
not the end of the world, right if One Circus
back in business after a week off Leam Lawson's been
the talk of the paddock, of course. He lines up
in Japan this weekend with his old Racing Balls team
now Peter Windsor been around IF one for years work
with Ferrari, was team manager for Williamsy's whether there's Peter morning.

Speaker 11 (38:35):
Good morning to you, good evening from Spain.

Speaker 2 (38:37):
What's your verdict on Lawson? Hard done by or has
he been looked after by his team?

Speaker 13 (38:45):
I think he's been pretty well looked after, to be honest,
because we've seen drivers in this situation in the past
struggling a bit, things haven't worked out and they just
got completely dismissed from the team. They don't drive again.
I ever seen him get in Formula One. I mean
the good thing about Red Bull it is quite a
big family and they've got these two teams and here
he is you know, rebooting back at racing balls, which

(39:10):
is not a bad thing anyway, because they've probably got
a better car at the moment than the A team anyway.

Speaker 2 (39:14):
Yeah, exactly. What's your view of him as a driver
outside looking in, where, of course all obsisted in the
side of the world.

Speaker 13 (39:21):
Yeah, I'm sure you are. The New Zealand has got
a great Formula One heritage, I got to say. I
mean a massive fan of everything that you know, New
Zealand had done in Formula One over the years, from
Bruce McLaren to Chris Aam and anyway. To get to
the point, he first got my attention when he was
in Formula three and I remember watching him in the
semi wet in a race in Hungary i think it was,

(39:44):
and his car control was just sublime, beautiful to watch.

Speaker 2 (39:47):
I remember thinking then, wow, this guy's.

Speaker 13 (39:50):
Good and sort of followed him and I did an
interview with him on my YouTube channel You're not long afterwards,
and I was always a fan and still i'm a fan.
Really a great car control, very spectacular driver. I think
the problem today is that Formula One and motors Board
in general, Formula one in particular is very very data

(40:11):
driven very very digital, and it's lost its ability to
allow a driver just to go out and drive on
gut feel. Everything is done according to data and telemetry
overlays from the other driver in the other car, and
I think it sort of sucks the wind out of
you as a driver. And we saw that with Daniel Ricardo.
I think when he went to Reno and McLaren he

(40:31):
wasn't the same drive that he'd been at Red Bull,
and I think it's that with Liam. I think he's
not just he's not just going out and driving the
car as Liam Lawson wants to drive it. He's looking
at what Max with Stappan's doing on the data. He's
looking at this, he's looking at that, and I think
that's a great shame. But there are so many people
in Formula one with the jobs with important titles, most
of them managers of something. They've all got to justify

(40:52):
their existence, and it's all too complicated. There's too much information.
And you know, Liam's a very natural racing driver and
this needs to be allowed to get out there and race.

Speaker 2 (41:02):
I enjoyed your insight.

Speaker 11 (41:02):
Peter.

Speaker 2 (41:03):
Listen, let's get you back on again soon. Peter Windsor
former F one team manager. For no other reason. What
Williams are doing at James Vale's at the moment is fantastic,
So Peter Windsor once worked for Williams. Good insight to
the Japanese if P one and P two. By the way,
practice one and practice two from Japan this afternoon seven.

Speaker 1 (41:21):
The Mike Hosking Breakfast Full Show podcast on iHeartRadio powered
by News Talk zeb.

Speaker 11 (41:30):
Now.

Speaker 2 (41:30):
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Take your business productivity next level. Get your business up
and running on the fibers keven twenty four. Time now
to mark the week. Little piece of news and current
events that's hotter than the bell on opening day of
the New York Stock Exchange for newsmax. Are the Murray
Party one? They get one because they're legitimately they're because

(42:36):
of votes and that's democracy and you can't argue with it.
As for the rest of the performance this week, they're
a joke in an embarrassment to this country. Are the
Greens two?

Speaker 23 (42:43):
Two?

Speaker 11 (42:44):
Not one?

Speaker 2 (42:44):
Are because they get more support in the polls and
the Murray Party, but the prospect of labor letting them
round a cabinet table, I mean, really, book my ticket
out Trump Three they.

Speaker 9 (42:52):
Rip us off.

Speaker 15 (42:53):
It's so sad to see.

Speaker 11 (42:55):
It's so pathetic.

Speaker 2 (42:56):
One better than the Greens because to counter teriffs of
other is not free trade, but it's understandable. I get it.
As for the rest of it, he's mental. The Warrior
is seven. Yes, because three in a row is three
in a row and two more points this weekend, of course,
which on the my asking score sheet is four in
a row. Clarkson's Farm seven because launch date was revealed

(43:18):
this week for season four it is May twenty three.
Market down. See even though there's a lot of it
about these days quality television, I reckon remains a looser
for reminding us quantity is not automatically equality. And the
America's Cup four is going to be held here. So
I wasn't a surprise and I wasn't disappointed, although in
the spirit of being open for business, I would have
liked to have seen a bit more enthusiasm from the government.

(43:39):
I mean, pleading poverty is a poor man's game, not
a go getter game. Hawks Bay Wine eight could be,
could be a classic, vintage, could be like twenty thirteen.
It's been an awesome summer for a lot of us, really,
hasn't it. Here's cheers. The Jobs Report too shared a
story of the week for me to have over half
the country regretting their career as a study and lack
of planning or lack of action or lack of life

(44:00):
life to the full the school lunch pole seven, most
of us think parents should make our kids lunches. What
that shows is most of us are still attached to
some form of reality. Cory Booker six.

Speaker 11 (44:11):
Fasted for das into it. I start drinking water a long.

Speaker 2 (44:14):
Time ago, achieved nothing outside of optics, But twenty five
plus hours of stem are to be admired and are
blader to be impressed by. I would have thought. That's
the week copies on the website, and everyone who works
on this, by the way, was paid the new living wage.
It was also recognized this week that when taken properly,
this is just as of effective as we're go be Husky.
Back to the terroriffs China. China has repeatedly stressed that

(44:37):
there are no winners in trade halls and tariff wars,
and protectionism is not away out Norway.

Speaker 11 (44:43):
The most of.

Speaker 4 (44:45):
The tariffs are the most serious setback to open and
free world trade we have seen since the interwar period.

Speaker 2 (44:51):
France, it interests to this.

Speaker 15 (44:54):
One thing is certain with the last night's decisions.

Speaker 25 (44:56):
The US economy, it's businesses and citizens william it's weaker
and poorer than before.

Speaker 11 (45:02):
The UK it is the beginning of a new era.

Speaker 2 (45:05):
We need to understand that, just as we've understood it
for defense and security, we have to understand the changing
world when it comes to trade and the economy I Ireland.

Speaker 16 (45:15):
My determination, and certainly the economists termination will be to
encourage and continue to grow the aland economy before it
hard for that over the brigs ait tobacco, and we
will fight hard again for it. In terms of where
we are now.

Speaker 2 (45:27):
Former Department of Treasury economists Bread set stuff out of
the States with us after the News, which is next
on the Mike Hosking Breakfast.

Speaker 1 (45:35):
New Zealand's home for trusted news and views, The Mic
Hosking Breakbit with Bailey's Real Estate, your local experts across residential,
commercial and rural news talks head be so.

Speaker 2 (45:47):
I think we've covered off most of the countries that
are severely hit from various correspondents, but the Irish PM's
not happy.

Speaker 18 (45:52):
There is no doubt that the imposition of tariffs by
the US will have an adverse impact. Ireland's priority is
the protection of jobs under our economy.

Speaker 2 (46:03):
The US Treasury Secretary is doing his best.

Speaker 8 (46:05):
Prices will go up for Americans in the short term, right.

Speaker 26 (46:10):
They could, they don't have to, and the President Trump's
first administrations prices didn't go up, so the businesses don't
have to pass them on, or the producers and the
other countries can eat the tariffs, and traditionally the dollar adjusts.
So it's a very complicated calculus to see where we

(46:33):
end up.

Speaker 2 (46:36):
Well, none of that has twenty two minutes waye for mate.
So as far as this is all concerned, do we
see retaliation? What happens next? Does it reshape global trade?
Does the Trump administration play a heavy political price for
increasing the cost of living? If not engineering a potential
resision forming US Department of Treasury economists Bread sitster is
with us bread Morning to you?

Speaker 24 (46:57):
Oh well, good, good afternoon in my time, but morning
to you.

Speaker 2 (47:00):
What do you make of it?

Speaker 24 (47:04):
Well, it's a shockingly radical shift in policy. I mean,
I think everyone knew that President Trump wanted to raise tariffs.
But even in a context where there was an understanding
that President Trump wanted to raise tariffs, he wrote increased
tariffs on a host of trading partners by more than expected.

(47:28):
This is a fundamental break in the post World War
two US international economic policy approach and it's an enormous
political and economic risk for President Trump. I mean, the
magnitude of the tariff increase does, in my view, threaten
to push the US into a recession. It's such a

(47:49):
big increase, so broad based, so poorly targeted.

Speaker 2 (47:53):
Do you expect what happened yesterday to be followed by
a lot of phone calls and a lot of negotiation
and a lot of cobouts. And what we're seeing this
morning is not what we'll see in a couple of months.

Speaker 24 (48:04):
Look, I think, on one hand, there's still a set
of tariffs that are in the works that haven't yet
been imposed, tariffs on semiconductor is, tariffs and pharmaceuticals. So
on one hand, we know there are more terriffs in
the works. We haven't seen the end of the tariff onslought.
On the other hand, certainly some in the administration, not all,

(48:28):
are open to the idea of negotiating some of these
terraffs down in return for concessions from America's trading partners.
But I think the clear signal is that you're negotiating
the tariff down, you're not going to get the tariff
taken off the ten percent baseline. Tariff seems to be
a minimum that everyone's going to have to pay, and

(48:50):
we don't yet know whether the administration is willing to
do realistic deals, whether they just are going to say
they are open to negotiation, but in practice this their
terms are not going to be suitable for our trading partners.

Speaker 2 (49:05):
Do does the average American understand? Of course, we from
New Zealand come from a pretty free trading sort of environment,
and the bits we don't understand is that we've got
a balanced trade portfolio with America. Australia's got a pretty
balanced trade portfolio. Israel drops all their tariffs the day
before the announcement, they still get whacked with seventeen percent.
Does American or do Americans understand that the whole world

(49:27):
is not going to relocate to America and build factories
and build you everything you need at prices you can afford,
and that's just basically bs.

Speaker 22 (49:37):
No.

Speaker 24 (49:38):
I don't think most Americans yet realize how radical this
policy is, how much it's going to raise prices, how
the cost of living, which was a big issue in
the recent presidential election, is going to go up for
most people. So I don't think most Americans recognize it.

(49:58):
I don't think the administration recognizes how hard it's going
to be to relocate production into the US when, as
you said, for many goods, the US is going to
be a high cost producer, and he's put this production
is only going to be viable with permanent protection. So
I do think that the costs of this policy shift

(50:19):
had been underestimated. And I completely understand how countries that
have had balance trade with the US are wondering why
they're on this list. And I think the answer is
that balance trade isn't enough. President Trump wants to get
some revenue and ten percent is basically the minimum. So
Australia should take comfort, in President Trump's view, from the

(50:40):
fact that their rate is only ten percent, and the
best probably Europe can hope to get out of negotiation
is going from say twenty to ten. I think it's
just a new world.

Speaker 2 (50:50):
If I don't know if this is in your wheelhouse,
but if it gets idly economically in America and you
got the midterms, do the Republicans freak out? And it's
not to implode.

Speaker 24 (51:01):
I don't know they implode, but you could certainly see
a split between the congressional Republicans, some of whom are
not that keen on this policy privately, and President Trump.
President Trump's all in, but I think there is yet
still a strong contingent of traditional free trade Republicans that

(51:22):
would break from President Trump. If President Trump's approval rating
falls significantly and the Senate candidate or the House candidate
feals like the tariffs are dragging their prospects down, that
would be a fracture in the party. But it's the
kind of fracture that happens when you have a president who,

(51:42):
at least under conventional terms, is not up for reelection
and his power will start to wane further into his term.

Speaker 2 (51:51):
Great to check to you, but I appreciate it very much.
Bred sits a who's a former US Department Treasury economists.
I'll work you through some of the worst countries most
affect and almost mounted defense of Trump in what he's
thinking in a moment. Seventeen to two.

Speaker 1 (52:07):
The Mike Asking Breakfast Full Show podcast on iHeartRadio, Power
by News Talks at Me.

Speaker 2 (52:14):
Oh, Mike, does Foodstuffs buy its products from America? The
price on products in the last few months must be
due to the tariff's nest cafe instant coffee one hundred
gram was around eight to fifty a month or two back.
Nowadays it's twelve dollars nine as of Monday. Or was
it just price scouching? Good question, very simple answer for
you in a moment, right China thirty four percent tariff,
Well depends that you said, that's the reciprocal tariff. When

(52:36):
you add it to all the rest of it comes
out at sixty seven percent. The US has a deficit
with China of about eight hundred billion dollars a year.
So that's where Trump sees himself being ripped off. Why
aren't the Chinese buying more American products? So from that
point of view, you can understand Trump's thinking saying, well,
hold on here, we're buying all the stuff from Japan. Now,

(52:58):
a purist like news Eylan would argue, well, the reason
you're buying all the stuff from Japan is because you
want it. You don't buy it reluctantly. You don't buy
it because you get a gun to your head. You
buy it because you want it. They make a whole
bunch of stuff you're interested in buying, and that's how
business commerce works all over the world. Park that to
one moment. All he sees is a bottom line number.
We buy more from them than they buy from us. Now,

(53:20):
the fact that a lot of what America makes is
crap like meat. Their meat is rubbish, it's barn raised nonsense.
So the reason that we, for example, don't buy their
meat is because we make better meat, and we've got
plenty for ourselves. We don't want to buy rubbish from them.
So park that aside as well. If you're all you're
looking at is the bottom line. China does more business

(53:42):
with American and buace business, so he wants to reciprocate.
He wants to do something about that. So you can
understand that from his point of view, the Soto fifty
percent only imports two point eight million dollars worth of
you as good, so nothing, but there is an imbalance there.
America buys diamonds, knit women suits and non knit men suits,

(54:04):
so not a lot of trade, but it's not balanced.
So he goes right, I'm going to get you fifty percent.
The EU major player, of course, and this is where
it could get ugly if they retaliate. World's largest bilateral
trade and investment relationship is with the US. It is
worth fifteen billion dollars every day. Germany, Ireland Italy are

(54:27):
the biggest exporters, so they've been whacked with twenty percent.
The justification is the deficit is about five hundred billion dollars,
So in other words, America buys more to the tune
of about half a billion dollars from the EU than
the EU buys from America. It's not faircs Trump, hence
it's twenty percent. So you understand that Switzerland's been particularly
badly hit. And one of the reasons you can really

(54:48):
clearly understand, US has been Switzerland's biggest export market. Why
are watches? They make roll Exes and there's a lot
of rich Americans who buy rolex It's not just Rolllexes,
but they make a lot of medical products, and they
make a lot of vaccines and blood and cultures and watches.
America doesn't do any of that. They don't make any watches.

(55:09):
When was the last time you looked at an American
watch and go, tell you what, I'll give you twenty
thousand dollars for that. They don't do it. So Americans,
rich Americans like to buy rolls, so they bring those
into the country. But it's a trade in balance, hence
he wants to rectify it. Vietnam, as we've mentioned this morning,
is about the worst. And this is where it gets
really complicated because you get a lot of American companies
packed up in Vietnam. Why because the labor's cheap. So

(55:32):
Trump's theory is, Nike guys are, well, all right, we'll
move back to Minnesota and we'll make all our Jordans
in Minnesota. So instead of you Jordan's being two underd
in twenty bucks, there'll be eight hundred bucks. Because guess what,
your average American wants to be paid a bit more
than your average Vietnamese. Now, all of this, to my mind,
is completely and utterly plain and obvious. Trump doesn't see it,

(55:55):
or I strongly suspect doesn't want to see it. But
that's what rationale is.

Speaker 1 (56:01):
Tinderwait, the Mike Hosking breakfast with the Range Rover, VI
LA News talks dead.

Speaker 2 (56:07):
Be Trump's got a big day hit. He's just off
to Florida to play some golf. But before he goes
a word on you know what, I think it's going
very well.

Speaker 22 (56:15):
It was an operation like when a patient.

Speaker 10 (56:18):
Gets operated on, and it's a big thing I.

Speaker 15 (56:22):
Said, this would exactly be.

Speaker 11 (56:24):
The way it is.

Speaker 17 (56:25):
We have six or seven trillion dollars coming into.

Speaker 15 (56:28):
Our country and we've never seen anything like it. The
markets are going to boom, the stock is going.

Speaker 11 (56:35):
To boom, the country is going.

Speaker 23 (56:36):
To boom, and the rest of the world wants to see, is.

Speaker 4 (56:39):
There any way they can make a deal.

Speaker 21 (56:41):
They've taken advantage of us for many, many years.

Speaker 23 (56:45):
For many years, we've been at the wrong side.

Speaker 2 (56:47):
Of the ball.

Speaker 24 (56:48):
And I'll tell you what I think.

Speaker 11 (56:49):
It's going to be unbelievable.

Speaker 2 (56:52):
John thun who's the Senate majority leader, said, quote, this
market reaction to the tariffs was not expect In that quote,
if he believes it, it seems almost impossible to believe
that he believes it. But if he does believe it,
it shows you just how thick they are. Meantime, Pentagon's

(57:14):
independent watchdog has announced it has agreed to a request
from a number of senators it's launching a probe into
the use of signal by the Defense Secretary Pete Hegseth
and the others. So that, as I mentioned earlier on
in the program, that's not going away. Back to the
question around the price of coffee. The price of coffee's
got nothing. It's not price gouging, and it's got nothing

(57:35):
to do with tariffs. And it's been very heavily publicized.
And so that's why it remains very important that you
remain cognizant of international matters on any given day. And
that is I thought we all knew that two things
were happening in the world of food this year. One
was cocoa was a problem, and that was due to
climate change, and they've got cropping issues. So chocolate's gone

(57:55):
through the roof. And coffee's the same problem. It's climate
related demand supply it doesn't meet. The price of beans
has gone up, speaking of which, I ordered some beans
the other day from the place I get beans from,
which is in Wypoo, which is a very small town
north of Aalkland's about an hour our's drive away. Now
that's gone up in price, not horrendously. I didn't estimate

(58:18):
by a couple of dollars a bag, which is in
a percentage terms, probably quite a lot. But nevertheless, I'm
still talking a bag. Well, we're down. They cut them interesting.
You should say that they used to do five hundred k,
but five hundred grand bags. They're down to two fifties,
and the two fifties are actually, I won't tell you
what the two fifties are because you'll do your uge
Oh go right, anyway, So there are two fifty backs anyway,

(58:39):
the point being what has gone up is the cost
of transporting that coffee from basically an hour's drive away
through New Zealand post eleven dollars eighty, almost as much
as the coffee, it seems. Which so that's gone through
the roof. Your cost of powers gone through the roof
because you realize that transpower have been given the clearance
to charge you billions of dolls or us collectively billions

(59:01):
of dollars so they can build some more power pylons
and make us more resilient and stuff like that. So
those things are still around in the economy. They're inflationary, which,
as far as I can work out, it's a problem.

Speaker 27 (59:12):
So we know that coffee costs at least eleven dollars eighty.

Speaker 2 (59:15):
It costs i'll give it to you, it's eighteen. It's
eighteen dollars for a two to fifty gram bag. Now
this is where life gets slightly interesting, because you talk
about tariffs and price increases and the cost of living
in everything. There are certain things in life you are
prepared to pay above the odds on because you have
an emotional connection to them. Can I buy coffee beans cheap?
Of course I can, probably not a lot cheaper these days,
but at eighteen dollars, that's right up there as far

(59:37):
as I can work out. But their high quality coffee beans,
and they bring me tremendous pleasure. What price do you
plate place on pleasure at two thirty in the morning?
A little double the spress, So two thirty in the morning,
I mean I'm paying eighteen dollars per two ndred fifty
grams of that. Anyway, Tom Katie, we will do the
week for you right after the news, which is next.
They're on my costing breakfast.

Speaker 1 (59:57):
Time setting me gender than talking the big issues, the
Mike Hasting breakfast with al Vida, Retirement, communities, life your Way,
news talk.

Speaker 11 (01:00:08):
Sad.

Speaker 9 (01:00:10):
To say, flapping the trunk, Come on, come?

Speaker 2 (01:00:25):
Do you like deliberately trolls with this crap? This is
Mike Hedreas. He calls himself perfume Garden. No, he doesn't
calls himself perfume genius. True artists never stopped discovering. I

(01:00:45):
wonder if he's discovered He's not very good. He delivers
plenty of the cathartic revelatory moments. His work is renowned
for lead, but the way he's work is renowned for
anything other than my nausea. We've got eleven of these Franks,

(01:01:06):
and in total you'll find one of them. Actually look
at track two. Track two is called no front Teeth,
Perhaps a sense of humor. Forty one minutes and fifteen seconds.

Speaker 1 (01:01:16):
Office the Week in Review with two degrees, bringing smart
business solutions to the table.

Speaker 2 (01:01:23):
Let's welcome to the program, Kate Hawksby and Tim Wilson.
Good morning, good morning, good morning.

Speaker 4 (01:01:28):
Does that.

Speaker 11 (01:01:30):
Go okay?

Speaker 3 (01:01:31):
I was just going to say, I cannot believe you
sent Sam out in this weather box Auckland is experiencing
to go get you a coffee, which I see to
Sam was probably just blown to some of the ens
and freezing cold by the time he got.

Speaker 21 (01:01:41):
Back with it.

Speaker 2 (01:01:42):
It's a very good point.

Speaker 15 (01:01:42):
And then what did what did what did he get called?
After putting you first and getting that coffee?

Speaker 18 (01:01:48):
What did you call him?

Speaker 2 (01:01:50):
George Russell?

Speaker 28 (01:01:52):
No?

Speaker 2 (01:01:53):
I did, I said you sound like George Ruster. You're
a mona, You're a whiner because he came back, so
what No, just just he came back soaked. No he didn't. Well,
he came but he claims he came backsacked, and that's
what makes him George Russell esque because he's a whiner.
So what happened was we had the discussion. Now this
is where Will, our new boss, comes in, and Will
is still trying to ingratiate himself with the team. So

(01:02:14):
Will came in this morning, Will came up. Will came
in this morning, because now we're a closed shop. Where
Will came in this morning? He says, hey, guys, if
you want a coffee this morning, I'm happy to go
across and get it in the weather. And I thought,
good on him. Fair enough because we've just had the conversation.
I said to Sam, I said, what are your feelings
visa v meteorological conditions and coffee? And he goes, and

(01:02:37):
God bless Sam for the attitude. He said, I'm more
than happy to go. So at that point we had
no good attitude. I like it, and I said, of
the two, let's go to the closer one so that
you don't get as wet, because literally the gap between
leaving our building and getting across the road is about
three and a half to five meters, so at pace
you'd barely know. It's a poor day with the atmospheric

(01:02:59):
river where experiencing all over the country at the moment. Unfortunately,
so it's all gone well until he came back and
he went, oh boy.

Speaker 13 (01:03:08):
It's so.

Speaker 15 (01:03:09):
He didn't sound like that. He doesn't sound like that,
Let's stop it.

Speaker 2 (01:03:12):
Then you started referring to as the bomb, bomb.

Speaker 3 (01:03:16):
The bomb, And I was the same as Sam. I
didn't know until I went out in it how bad
it is. It's really wet and blowy and miserable and
horrible and wintery. It's just random ass. And the other
thing I am deeply concerned about now is this coffee addiction.
Is it spiraling a bit out of control?

Speaker 15 (01:03:31):
It does sound like.

Speaker 3 (01:03:34):
And then again during.

Speaker 2 (01:03:38):
Eighteen fifty's let's break that down. Let's break that down.
First of all, the it's only on a Friday is
my secondary one is only on a Friday, And the
other one to start the day's to gut cleanser, and
everybody knows cleansing your gut at the first thing in
the morning is fantastic spikes.

Speaker 3 (01:03:57):
Your courtisol is what it does, and you're not meant
to drink coffee on it empty stomach.

Speaker 11 (01:04:01):
But it's a thing.

Speaker 2 (01:04:02):
I thought you said it.

Speaker 26 (01:04:05):
This is.

Speaker 15 (01:04:06):
That's why it's so ratty, so foul mouthed and so unconscionable.

Speaker 28 (01:04:10):
Is because you're you're having cortisol for breakfast as opposed.

Speaker 2 (01:04:14):
To eighteen dollars for two fifty grams. And I would
argue Tim in terms of coffee. In terms of certain
things in life, you go quality over quantity or just
sheer price. Certain things you go price petrols to an example,
But coffee you can go a little bit extra wine,
you can go a little bit extra cut of meat,
you can go a little bit extra because of quality.

Speaker 11 (01:04:36):
I'll tell you what.

Speaker 15 (01:04:37):
I'll concede that if you go and say sorry to
Sam in the break sorry.

Speaker 2 (01:04:41):
Sammy, I'll do it, you know, just.

Speaker 11 (01:04:46):
Sorry.

Speaker 27 (01:04:46):
Just as an impartial observat to all of this, I was.

Speaker 2 (01:04:50):
A really impartial Glenn Well.

Speaker 27 (01:04:51):
I was feeling sorry for Sam when he first came
back and looked a little bit draggled. Yeah yeah, and
you're blinking and that sort of thing. But then the
very fact that he then went on to tell Kate
in term about.

Speaker 2 (01:05:04):
First exactly he's a whiner.

Speaker 11 (01:05:06):
Yeah, I feel sorry as Geordan.

Speaker 15 (01:05:10):
Listen, just a whiner, he's a traitor.

Speaker 2 (01:05:13):
Listen to that list the radio in the F one,
George always goes, Oh the seats really hot, seats really hot.
Oh the seat's so hot, seats so hot. I've been
to scratches, I've got coffee. I'm thinking wet. It's really cold.
It's awful. It's a bomb. I'm ringing the Herald more
shortly twelve past eight.

Speaker 1 (01:05:27):
The mic Asking Breakfast Full Show podcast on iHeartRadio, powered
by News Talks.

Speaker 2 (01:05:33):
It be news Talks have been called a past eight.

Speaker 1 (01:05:37):
It's a weekend review with two degrees, bringing smart business
solutions to the table.

Speaker 2 (01:05:43):
Sam sounds like my sixteen year old son, Mike does
a job willingly. Then whine's about it morning. My black
coffee in the morning is a very good antioxidant for
your body. Tell the lady who just said it's bad
on an empty stomach. So I tell the lady, come on,
this is not a weather We better rain a little
bit of wind. No right here in Christ, it's my

(01:06:04):
beautiful stay we're waiting for you to join us.

Speaker 15 (01:06:07):
Than can we talk about twenty five years? Congratulations? Like
twenty five years?

Speaker 28 (01:06:13):
I feel in this gag, it's it.

Speaker 2 (01:06:14):
Can I just say, I feel like impressive, I feel
thank you, You're very kind. I feel sort of fraudulent
because it's not sort of the complete story. It's just
just at this particular place, that's all. It's kind of
I suppose that's I mean, no one stays anywhere for
twenty five years anymore, do they really? I guess.

Speaker 28 (01:06:29):
But I want to know what you were thinking that
first morning when you sat down and you're sitting there
waiting watching it tech back. You would have been quite young.
You would have been what fifteen?

Speaker 2 (01:06:39):
So what was going through your mind April? Well, it
was April first, twenty five years ago, but it was
for Saturday morning. I was doing Saturday morning. That was
all I was doing at the time, so I sort
of probably wasn't thinking about anything. I thought, Oh, yesterday
morning sounds fun to me. This could be good worked out.

Speaker 28 (01:06:55):
Okay, what would what would the twenty five years older
Mike say that callow teenager?

Speaker 2 (01:07:01):
Now, well, he's not a callow teenager because I'm sixty
minus twenty five. Work it out too. He was sixty
even as a teenagerty five years old.

Speaker 15 (01:07:10):
I he's actually gotten younger, I did.

Speaker 2 (01:07:13):
Say earlier this morning. And it's one of those random things.
And I regard myself as blessed because I have no
real reason to understand why I got into radio other
than I thought this could be fun, and as it
turns out, it was. And also in those days, I
didn't need to do anything to get it. I didn't
need to go to a university or get a qualification.
I could just, as it turns out, I could write

(01:07:33):
three three companies and say, hey, I'm quite interested in
doing some stuff. You got anything, And one wrote back
and said, well, we've got this thing called copywriting, which
is you write ads and do a test. And they
sent me a test and I wrote some stuff down
and they gave me a seventy two percent score, and
I thought that's quite good. And then after they gave
me a seventy two percent school, they said, do you
want to come and be a junior copywriter for seven

(01:07:54):
and a half thousand dollars a year, which was the
minimum wage at the time in nineteen eighty two, and
I said sure, And so that was the end of
that rest. Could you think of carry on?

Speaker 15 (01:08:09):
No?

Speaker 3 (01:08:09):
I was just gonna say the good thing is that
you enjoy it like it's been fun the whole way.
I mean, COVID was testing. I'll be honest, that tested us.
I don't know that broadcasting during COVID was a fun time.
That was a challenge.

Speaker 2 (01:08:19):
Good for the races you wanted to tear your.

Speaker 3 (01:08:21):
Hair out, yeah, good for rating, but it.

Speaker 2 (01:08:23):
Was hard yards but everything was hard. Everything was hard
yards for cod But I got I just, I just
my My main point was I worry for people who
have regret in something that you spend so much time
in doing. You know, it's not like it's like I
played golf and I regret it like WHIPPEDI do you know?
This is your whole life. This is like eight hours

(01:08:44):
plus per day for forty plus years. And how is
it you possible immersed in something you're busy regretting. I mean,
what's the point of that.

Speaker 3 (01:08:52):
Well, a lot of people don't have other options and choices.
I mean, you yourself said if you didn't do this,
you have no idea what else you would possibly do,
And that for a lot of people.

Speaker 2 (01:09:00):
But if I was forced, i'd do something. So in
other words, about been a disaster, or halfway through I'd gone,
this is absolute crap, this is I've got to go.
I would find something, and I probably would discover I
like it. And you're right, I means in real estate.

Speaker 3 (01:09:18):
Working in a wine shop.

Speaker 2 (01:09:19):
Yeah, see, that's what the problem. I'd work at a
larn shop, or I would make or i'd go work
on the land or something like that.

Speaker 3 (01:09:27):
You'd be a lawnmower. You'd do people's lawns on the
ride on.

Speaker 15 (01:09:30):
You'd be happy to do that.

Speaker 3 (01:09:32):
I watched I want to say my highlight of the
week and my person of the week. I don't know
that you played it on your show, but Winston Peter's
calling the reporter a dickhead this week? Are we at
Pete Winston? Because I think I railed against him big
time during the election campaign. I thought he was just
bad news, bad news, didn't want to borrow it. The
sign of an intelligent curious mind is someone who's able

(01:09:54):
to be open minded enough to change their mind. And
I've completely come full circle and I just and now
I just love everything he does and when he turns
around and calls the reporter a dickhead. I thought, this
is just he is at his peak, isn't he?

Speaker 11 (01:10:07):
I could?

Speaker 2 (01:10:07):
I think, do you know what it is? He's found
his purpose and he's worked out two things. One this
is his final chance to look like a statesman. And
he's found his purpose. And he's on a plane every
second day, wandering around the world, having the time of
his life. And he's got a good work ethic, and
he's on a good diet, and he's turning eighty, and
he's thinking, man, I never thought i'd be here at
the age of eighty.

Speaker 11 (01:10:25):
Good on me.

Speaker 2 (01:10:26):
And he's on a roll.

Speaker 3 (01:10:28):
He's very impressive for eighty, that's for sure.

Speaker 28 (01:10:30):
He's sure is he's a testament to Benson and Hedges
and good Scott.

Speaker 2 (01:10:35):
Well, isn't it? Because my understanding, I'm getting the messages
at the morning. I think he I think he's given
up smoking. I might be wrong. And I was also
told he'd pretty much given up drinking. No one really
gives up drinking, but he's certainly given up drinking. He
certainly hasn't turned up on this program. And this is
the advantage of having been around for forty four years.

(01:10:55):
He used to turn up on early morning programs like
you knew full well that the Green Para had had
a good night, and whereas these days you just don't
hear it. He's too busy, to too diligent, working too hard.

Speaker 28 (01:11:08):
Age producers wisdom, it's actually why do we venerate the young?

Speaker 3 (01:11:12):
And you're talking about people who stay in the same job.
I mean, you know you've got to take your head
off to him, don't you.

Speaker 2 (01:11:17):
Yeah, because I would argue he's got other stuff.

Speaker 15 (01:11:20):
You could say, are so good, No, he could.

Speaker 11 (01:11:23):
He could.

Speaker 2 (01:11:23):
He could, for example, go back to law, or you
could argue he's trapped in politics and you can't give
up the power or whatever. But he's got other fish
to fry. Whereas you can look at some of them
and go, you literally wouldn't find a job if you
weren't here, Whereas I think that doesn't apply to him.
He's he's obviously making a contribution, and he feels.

Speaker 28 (01:11:42):
And courageous too, like calling out that Benjamin Doyle those
Instagram posts absolutely correct.

Speaker 2 (01:11:49):
Yeah, right, Well that comes from the fact that he's
got nothing left to lose, Like you know, take me
for what I am, what I am like love it.

Speaker 11 (01:11:54):
I hate it.

Speaker 2 (01:11:55):
I am And I like that quick word tim about
Shakespeare and compulsion in school. You comfortable with that or not?

Speaker 9 (01:12:04):
Absolutely?

Speaker 15 (01:12:04):
Absolutely? And there's a comment sort of yes, okay.

Speaker 28 (01:12:09):
Yeah, yeah, yeah, there was a comment about, oh, you know,
they may not be able to get it. But like
my English teacher there age thirteen, made me read T. S.
Eliot's The Wasteland and it just blew my head apart
and created this affection for words that i'd sort of
not really quite understood, but it crystallized it for me.
And so that's such a gift. I think there's a

(01:12:30):
gift they're waiting to be unpacked. And if it has
to be compelled, compel it.

Speaker 11 (01:12:34):
Caddie.

Speaker 3 (01:12:36):
Yeah, I'm not a fan of compulsion for kids at
high school because I think if you are forced to
do something, it's often not enjoyable for you, and you
rail against it. And I think, you know, all of
those of us who were made to do Latin. Personally,
I enjoyed it, but there were a lot of people
who did it.

Speaker 24 (01:12:50):
You know.

Speaker 3 (01:12:50):
I don't like being forced to do things. But Shakespeare,
I think we don't given up.

Speaker 8 (01:12:55):
You make an exception yeah, yeah, I don't.

Speaker 3 (01:12:57):
Make an exception, but I do think that it's I mean,
our daughter, for example, she did extra curricular Shakespeare.

Speaker 15 (01:13:02):
She enjoyed it so much.

Speaker 3 (01:13:02):
Wow, when I did extra Shakespeare workshops and plays.

Speaker 2 (01:13:05):
I mean, it's funny you should say that I didn't
know that. How much else goes on at home that
I got no idea?

Speaker 3 (01:13:10):
Oh my gosh, it was major.

Speaker 11 (01:13:13):
I don't know.

Speaker 3 (01:13:14):
Do you want a prize for it?

Speaker 11 (01:13:15):
Oh? I remember that.

Speaker 2 (01:13:17):
Yeah, I didn't realize it was Shakespeare. I thought it
was something else. Anyway, listen, I got to moder you guys.
I could stay here and talk to you forever, but
unfortunately other things prevent me from doing so.

Speaker 1 (01:13:25):
A twenty three The Mic Hosking Breakfast with Bailey's Real
Estate News talk zby Gimmis Warehouse.

Speaker 2 (01:13:33):
They've got qualified pharmacists, they've got the nurse immunizers available
in store for those vaccinations and for many in our community.
Of course, these days, the vaxes are free, you go
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For pregnant people, anyone over the age of sixty five,
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(01:13:57):
forward slash flu gimmis Warehouse. They'll continue to open it
and they'll close late, and they've got the pharmacists available
on hand to dispense that advice any time you need it.
So as they continue to open up in more communities
across this beautiful country, Chemist Warehouse is going to continue
their mission to make health and wellness more accessible and
affordable for everyone every day, no matter what the future holds.
So to find out more and to shop those unbeatable

(01:14:18):
chemist Warehouse bargains your head in store or online and
stop paying too much asking Mike agree with Kate one
hundred percent. Used to really dislike Peter's but I have
done a complete one eighty. We're lucky to have him
as a foreign minister and as a minister who says
what needs to be said. Are you right about Winston, Mike,
who's hit his peak, loving what he's doing and making

(01:14:38):
a solid contribution. Winston's on fire. See we've got so
many a bin in my job as a lawyer, Mike
for twenty five years. That that's different though doctors, lawyers,
you know you train that long. Ye sort of can't
really give it up, can you. Mike Winston's eighty Friday,
the eleventh of April. We should sing them happy Birthday
next Friday, shouldn't. Then when he turns eighty news for you,
and a couple of moments, then to the campaign trail
in Australia.

Speaker 1 (01:15:01):
The Breakfast Show, Kiwi's Trust to Stay in the Know,
the Mike Hosking Breakfast with the range Rover Villa designed
to intrigue and use togs dead b Bolly.

Speaker 2 (01:15:11):
Mike, do you think Liam's comment and the news is
a little dig at Yuki? I'm bloody excited for this
weekend's racing. Dan, I am too, And I think the
meatia is probably over analyzing whether this is a dig
or that's a dig and some cars are easier to
drive and I was on a simulator and all that
sort of stuff. It will be what it will be,
and we wish Liam all the very best. Mike talking
about Winston, he just loves politics. He could have made
a lot more money as a lawyer. That's a good point.

(01:15:33):
And he also knows more about politics than any other
person in Parliament. That too is true. Watch Question Time
on any given day. He's a treat Mike. There's a
movement of people given up drinking. People have realized alcohol's
a poison chemical and don't want to put it in
their bodies. Your poor body has to work hard to
process toxic chemicals, that is true. I'm living through that
at the moment. Younger people in general, not all, but

(01:15:54):
in general do not drink the way they used to.
Occasionally they have a blowout, but they do not. There's
a changing tide and there is a movement. I don't
know how big the movement is, but there is a
very very distinct and definite movement away from alcohol generally.
The stats, I don't think overtly back that up, but

(01:16:14):
you know the number of the times where you meet
a person now that goes no, I don't drink is
increasingly common.

Speaker 27 (01:16:20):
If those people are wanting to get rid of their alcohol,
I'm happy to come around and pick it out, take
it out, take it off them.

Speaker 2 (01:16:25):
And then there are people like Glenn twenty two minutes
away from.

Speaker 1 (01:16:29):
Nine International Correspondence on Use Dogs.

Speaker 2 (01:16:32):
Evy Murray olds as well this morning, very good morning,
Mike Veru. So he's not a It's not the sort
of thing a friend would do, says Albanezy yesterday. And
you tried your hardest and you enlisted Greg Norman, but
it came to nout what's it worth to your economy?

Speaker 11 (01:16:50):
How bad is it?

Speaker 2 (01:16:50):
Doesn't affect the election campaign? And are you disappointed?

Speaker 14 (01:16:54):
Well?

Speaker 11 (01:16:55):
Where do you want to Where do you want to start?
Greg Gorman didn't work?

Speaker 14 (01:16:58):
That's true, But I think look, I think Australia when
you look at that big league table that the President
Trump held up on the Rose Guarden, Australia got off
pretty lightly. Ten percent, didn't touch pharmaceuticals that Australia exports,
didn't go hard as the American pharmaceutical manufacturers wanted because
Australian governments both sides have been subsidized buying in bulk

(01:17:21):
and then subsidizing for the Australian population for years. Beef, yes,
but beef is not a massive item. Well, I mean
if you're a beef producer here, of course it is.
I've seen different things. The beef trade itself over three
and a half billion dollars all meat into America in
the order of six and a half billion dollars.

Speaker 11 (01:17:40):
With sheep and whatnot. But look, beef.

Speaker 14 (01:17:42):
Producers are a bit cranky, but I mean a simple
fact of the matter is America can't produce enough beef
to feed its people, so it's going to have to
get it from somewhere and.

Speaker 11 (01:17:52):
Ten percent maybe.

Speaker 14 (01:17:53):
I mean, look, there's a couple of things to take
out of the toll tarer of thing Australia got up
a bit lightly Anthony Albernie, I think, broadly speaking, and
you know that I'm an Albanesey fan.

Speaker 11 (01:18:05):
He said, listen, it is what it is. We did
our best.

Speaker 14 (01:18:09):
We couldn't get any carve outs for anything the blanket
tariff supply worldwide, so we're now in.

Speaker 11 (01:18:15):
The process of trying to negotiate.

Speaker 14 (01:18:18):
Peter Duncan's come out and said, oh, Albanese's missing an action,
couldn't get a phone call. I'll do a deal with Trump,
And Dunton also said, I'll put the security relationship up
as a bargain each chip. Well, who thinks that's a
good idea. You've got this volatile, orange faced buffoon in
the White House, slashing and burning. Look at Wall Street staggered,
biggest wipe out in years, and they're alsoying what on

(01:18:40):
Earth forwar. It's going to make goods in America more
expensive for American consumers. You can't tell me that an
Australian wine maker or a guy at Hawk's Bay is
going to pull up stumps and go and make wine
in America.

Speaker 11 (01:18:51):
Just I mean, it's just nonsensitive.

Speaker 14 (01:18:53):
And every single car part in America comes out of
Canada or Mexico.

Speaker 2 (01:18:57):
And what's the point, Yeah, exactly. No, No one, if
no one who's ever lived or pedaled in the world
of free trade understands what he's trying to do. The
only thing I said on the program earlier, the bit
where American product is tariffed. He use a good example
American product of tariffs, and there's no real reciprocal tariffs.
I sort of get his tat for tat thinking around it.
I understand that, But you're right about your meat. I mean,

(01:19:19):
they don't make enough meat. Their meat is crap. They
buy quality meat, they buy it from in New Zealand
and Australia. They can't get enough of it. It's going
through what you know, there's no logic to what he's
doing is what everyone's concluded, is it?

Speaker 14 (01:19:32):
So now is now the time that the phone calls
start coming, and now will he take calls from alban
Easy and from Luxon and from other leaders around the
world saying listen, New Zealand Australia, we don't have tariffs
against American goods. American goods, I mean Australia has a
trade deficit with America exactly right.

Speaker 11 (01:19:49):
So it's not as though we're ripping Americans off.

Speaker 14 (01:19:51):
No, so it is nonsensical and it just a lot
of Australian commentators now, particularly in the Murdoch Press this morning,
on the back of the tariff decision yesterday, Anthony Alberesi
should be writing a big thank you note to Donald
Trump because what he's done is energize Albanese's campaign. Albanizi,
the Moderate Statesman, saying it is what it is. Well,

(01:20:12):
we'll do our best for bit negotiating, Peter Dutton saying, oh,
you've you've been missing an action, old do a deal
with Trump.

Speaker 11 (01:20:19):
Well that's the that's the last thing he should be doing.

Speaker 14 (01:20:21):
He should be trying to calm down Mike the nervous
Nelly's in his back bench because Peter Dutton's all these
leaks are coming out again into the Burdock Press over here,
all these leaks saying that Peter Dutton's not doing enough,
he's not strong enough, there's no cut through. When can
we see some policies with a bit of meat on
the bone and you know, one week down, four to go.

Speaker 11 (01:20:40):
Time is you know, it's not it's not there.

Speaker 2 (01:20:44):
It's interesting you is to say that because the Canadian
race is the one to watch as well, because Carney
who's now the new Prime minister, that was a party
that was going to get spanked and spanked in double
digits and that's now suddenly they've rejuvenated the prospect of
that particular party because of the tariffs. Economically, Murray with
miss Buller who I watch this week and her she
held this time around and they were expecting maybe two

(01:21:05):
more by the end of the year with an economic impact.

Speaker 11 (01:21:08):
What she do well indeed, and look there's another factor
in that.

Speaker 14 (01:21:12):
We we look there were three factors economic headwinds that
were uncertain.

Speaker 11 (01:21:16):
On Tuesday with Donald Trump's tariff's landing.

Speaker 14 (01:21:19):
Forty eight hours later, we've got the federal election and
they did not want to I'm sure they won't say
this publicly, but I'm sure Michelle Bullock and her colleagues
did not want to be able to, you know, to
cut interest rates and then have one side of Australian
politics say oh, you've just done.

Speaker 11 (01:21:35):
That to help the government. That would also have been
in their mind. I'm convinced of that. And you've also
got the idea that.

Speaker 14 (01:21:43):
You've got the other sort of economic stuff that we're
looking at now after the February rate cut, for example,
national house prices particularly in Sydney rose, and that's just
what they don't want.

Speaker 11 (01:21:54):
They want to be able to get prices down.

Speaker 14 (01:21:56):
And you've also got there's brand new and now that
up in New South Wales, Victoria and up in Queensland.
People who are who are borrowing to buy a home,
half of them now need lenders mortgage insurance. And what
this is is normally charged with the deposit is less
than twenty percent of the purchase price. People are struggling

(01:22:19):
big time. Peter Dutt should stop flailing around and blaming
Albaniez if not getting a phone call with Trump, and
he should be focusing on cost of living.

Speaker 11 (01:22:27):
That's going to win the election. If he's gonna win it,
that's going to do it.

Speaker 2 (01:22:30):
How engaged a people? I saw elbow fall off the
stage yesterday, which is not it's not ideal campaigning, but
at least he didn't hurt himself. How engaged people at
this point?

Speaker 11 (01:22:42):
Good question.

Speaker 14 (01:22:43):
Every night the TVs have got vox pops of different
people and look overwhelmingly hand on heart it is cost
of living.

Speaker 11 (01:22:51):
Peter Dutton, for example, offering to.

Speaker 14 (01:22:55):
Reserve gas and you know, like natural gas, also to
have the intralex size for twelve months.

Speaker 11 (01:23:02):
Well, what's that done? Well, all that's done is playing
to Anthony Alban Easy.

Speaker 14 (01:23:06):
We're offering tax cuts forever in a day. So, I
mean both of them are offering stuff that hasn't got
any price tag attached, so that they're going to be
borrowing all the money to pay for this stuff. A
very interesting coming out of this election is going to
be the huge, brand new block of people who are
going to vote for the first time or the second time.
I mean, they're all sort of under twenty five, under thirty,

(01:23:28):
relatively left wing, left wing in terms of you know,
if you listen to the right over here, Oh, they're
all being indoctrinated in high school and universities.

Speaker 11 (01:23:37):
Young people just challenge. They just challenge the stuff their
parents have been telling them. So that's where that is.
And you know a lot of those people are going
to vote left.

Speaker 2 (01:23:47):
On the more important What are you going to do
for lunch?

Speaker 7 (01:23:49):
Now?

Speaker 2 (01:23:50):
I watched Iceberg's, which is your regular haunt for your
share blee in your stay and I'm watching the swells
and BONDI come in on Icebergs and destroy the place.
Where are you going for lunch now?

Speaker 14 (01:23:59):
I was sitting at your table the other day, the
Mike Husky Memorial Iceberg's luncheon table, and the thing was
washed away.

Speaker 11 (01:24:06):
It was terrible.

Speaker 14 (01:24:07):
I mean, look, honestly, I'm looking down here now and
well it's relatively came the beach down here at Manly.

Speaker 11 (01:24:13):
But I tell you, the.

Speaker 14 (01:24:14):
Surf, please excuse me, the surf in recent days was astronomical.

Speaker 11 (01:24:20):
There were still people out there riding. But I'll tell
you what. The swell has been really, really bad.

Speaker 14 (01:24:25):
And what we've got now on the back of that
bad weather system that was out in the taskm We've got,
you know, countless tens of thousands of cattle, mainly cattle
up in Queensland that have died. That's going to push
meat prices up through the roof ere. You've got fences gone,
roads gone. These some communities out there are going to
be cut off for months because it's so flat out there.

(01:24:45):
You've been out there. You know the terrain out there,
all that Channel country. It's full of water and it's
still getting some of that impact of that low pressure
system that was out off the Tasman.

Speaker 11 (01:24:55):
That's a disaster up there.

Speaker 14 (01:24:58):
You know, if Peter Dutton wants to make some progress,
get up there in a helicopter and promise all sorts
of relief, go and be with a fodder convoy that's
trying to feed these.

Speaker 11 (01:25:08):
Poor bloody animals that are starving out there.

Speaker 2 (01:25:09):
Good to have you on the program as always, Murray,
Thanks Michle Murry Olds. It is thirteen to nine.

Speaker 1 (01:25:15):
The High Asking Breakfast Full Show podcast on iHeartRadio powered
by News Talks at B A.

Speaker 2 (01:25:22):
Little bit of good news for you. Eleven nine hundred
and twenty new cars were registered in March in this country,
two point six percent year and year increase. I will
take that seventeen point seven percent increase in registrations in February,
so that's good. Bulk of them are passenger cars, the
old light commercial and the heavy commercial. That's not looking
good at the moment. Four of the five spots went
to Utes, the Hilux, the Triton, the Nevara. Navara is

(01:25:44):
running a lot of specials at the moment, so that's
probably got something to do with it. So the top
ten around the country the Swift is teen, Corolla, Celtos, Outlander, Ax, Nirvara, Triton, Highlux,
Rave and Ranger Rangers close seven oh nine v seven
oh five for the rav Gee that's a race nine seive.
Could they be toppled? There's your question. Could they be toppled?

(01:26:04):
By the way, the supply of New Zealand new vehicles
from the US only makes up three percent of our
vehicle imports. That's your rams and stuff like that, so
that terriff side of the discussion is not really an issue.
I got a very interesting letter this morning. I'll tell
you about in the moment nine to nine, the.

Speaker 1 (01:26:20):
Mike asking breakfast with Vida, Retirement, Communities, News, togsad Bes.

Speaker 2 (01:26:24):
I've got a small thing, not a big thing, but
a small thing about pr agencies who send you pointless crap,
and it's often packaged in a way that didn't need
to be packaged. And there's a lot of stuff around
it in big boxes and earth destroying materials that they
don't seem to care about, and inside this large box
is just some bit of it. Anyway, this morning I
got an album, as in a vinyl record, and it
came with a letter. The letter is on a very

(01:26:45):
heavy piece of paper, like a high quality piece of paper,
and it's a typed letter, and it's You're supposed to
think that the letter is personally signed, but it's not.
It's just printed dear Mike, as someone whose opinion I
truly value. I wanted you to be amongst the first
people to hear my new album with Brandy Carlyle, who
believes in angels. And the letter goes on for three

(01:27:08):
paragraphs and iTANs I can't wait to hear what you
think of it? Love Elton. So I'm supposed to think
that Elton's personally written to me, and I'm supposed to
go ooh, or I'm supposed to go what a waste
of time? And do you think I'm an idiot?

Speaker 27 (01:27:26):
And how am I going to put that on my
stick exactly.

Speaker 2 (01:27:29):
Second thing I get was from five minutes away from nine.

Speaker 1 (01:27:34):
Trending Now with Chemist ware House, the home of Big
brand ftamins.

Speaker 2 (01:27:39):
The Mindcraft people, and there was a big tote did
you just call it mind Craft whatever, it's a big tote.
And inside the big tote was a sweatshirt which I'm
not wearing and some McDonald's Minecraft stuff, which I'm also
not using. But as Ants Ants next to me, Ants
is loving it. I'm giving Ants or my is it
food food Town that Sue Michael was that did the

(01:28:01):
the chibi's, the ubi's, the b qbs qbs uh, he's
got those whatever booth town and he's called market commissioner.
We've got another player in Towns. Anyway, I've given it
to him. So there was more stuff that was wasted.
If Ants wasn't there, I would have bind all this stuff. Anyway,

(01:28:22):
back to the movie. No one likes the movie. The
movie's crap two hundred and sixty two million dollars to
make the movie one star reviews left, right and center.
Some people agree that Mamoa Black and Coolidge, who has
starting They sort of try and say.

Speaker 1 (01:28:37):
In the overworld, Wow, anything you can dream about, you
can create.

Speaker 2 (01:28:44):
So book all this and most of it.

Speaker 11 (01:28:49):
That thing doesn't understand a word you're saying.

Speaker 24 (01:28:51):
We're talking light here was perfect until one deck flint
and star came a crust the nether.

Speaker 2 (01:29:05):
A place with no joy or creativity at all.

Speaker 11 (01:29:08):
You, yeah, that's it.

Speaker 2 (01:29:11):
So that's that's one star from most people. It's on
at the movies now at the moment, apparently if you
want to brave the atmospheric River to go out to
the movie was there was there.

Speaker 27 (01:29:20):
A hat in the tote a Minecraft had to add
to your No.

Speaker 14 (01:29:23):
There was.

Speaker 2 (01:29:24):
There was some McDonald's chips, not chips, No, no, there was.
There was a plastic chip Minecraft thing. There was a
gobbler was a gremlin?

Speaker 27 (01:29:33):
What with your mindcraft and your food and your gobblers?

Speaker 2 (01:29:38):
Anyway, I'm actually thinking of having a fire today, which is,
I know it's a weird thing to say, but with
the atmospheric river and I know it's I'm sitting here
in the city, i'mand at the moment it's twenty degrees
so that's probably a stupid idea, but it's wet, and
I said, what not a fire? So I'll ponder that
as I watch a p one and you can throw
the mindcraft, the mindcraft stuff and anyway back on Monday

(01:30:00):
Happy Days.

Speaker 1 (01:30:01):
For more from the mic Asking Breakfast, listen live to
News Talk Set B from six am weekdays, or follow
the podcast on iHeartRadio

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