AgriCast Episode 3: November 14, 2024 | The US, Trump and Aussie ag - video Dailymotion

AgriCast

National Ag News Editor Andrew Norris speaks with host Kirsten Diprose about the impact of President Donald Trump's election in the US on Australian agriculture.

Transcript

00:00Hello and welcome to AgriCast, Kirsten Dippro is here with you and we're taking a look at

00:12one of the biggest stories across the ACM Agri network and to do that with us is Andrew

00:17Norris.

00:18Hi, Andrew.

00:19Hi, Kirsten.

00:20How are you going?

00:21Good, thanks.

00:22Now, you are the National News Editor at ACM Agri.

00:25Running the news headlines, I think, across the board has been the US election.

00:30But what does that mean for us in the agriculture community?

00:34I mean, Trump has promised to impose new tariffs on imports.

00:38What does that mean for farmers?

00:40As seen under Trump previously, he exempted Australian red meat due to the FTA that we

00:47have in place.

00:49And I think the expectation is that along with things like high demand for red meat

00:55and also in the context of how they'll be managing their cost of living situation as

01:01well and red meat seen as an important part of that, I think things are looking reasonably

01:07favourable there in terms of how those exports continue.

01:11The US has been quite reliant on sheep and red meat in general from Australia with the

01:16drought there.

01:18What sort of tariffs are they thinking they might impose?

01:21The broad numbers have been anything from 10 to 60 per cent, 60 per cent is more sort

01:27of what it's talking about.

01:28It'll slap on a lot of Chinese imports.

01:30I suppose Australia would come in the bracket more towards the 10 per cent end.

01:35How serious are the concerns about a trade war between the US and China?

01:40And if we do see one, what does that mean for us in Australia?

01:44The grains market's probably an interesting area to look at there.

01:47Obviously, we don't export huge amounts of grain to the US, but if a trade war does intensify,

01:54then there's scope for other countries to bring in more protectionist measures which

01:59could impact our exports.

02:01And some other things that particularly our grains writer, Gregor Hurd, has taken a look

02:05at is things like ingredients for farm chemicals used to grow grains, fertilisers, cost of

02:12fuel, particularly interactions between China, the US, the Middle East, and where we get

02:18stuck in the middle of all that, and how that could affect just the cost of doing business

02:22for farmers.

02:24Another one to watch with the US has been Robert F. Kennedy, who is likely to play a

02:29big role in the next Trump administration.

02:32And he's spoken out against a number of common chemicals that are used in farming.

02:38What are the implications of the use of chemicals, I suppose, in the US?

02:43And then what does that mean for us globally?

02:46There's a very strong farm lobby in the US, and I think one person in the US government

02:52is going to have a lot of trouble making any significantly drastic changes to what farmers

02:57can or can't do.

02:58So if you're a farmer watching the markets now and watching US, what do you do?

03:04That's a million dollar question, isn't it?

03:05I think a lot of farmers are pretty pragmatic and focus on the things they can control.

03:11And I don't think things like Trump are hurting the cattle market, along with the expectations

03:17around supply over there, and the fact that we have record export volumes at the moment

03:23overall, particularly in the beef sector.

03:25There's a few factors there aligning market-wise that probably give people, certainly in the

03:32red meat markets, more reasons to maybe be positive than negative right now too.

03:37Well, that's a good way to end it.

03:39Andrew Norris, thank you so much for joining us on AgriCast.

AgriCast Episode 3: November 14, 2024 | The US, Trump and Aussie ag

Category

Transcript

Recommended