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Newstalk ZB - headlines 9am

Trade-Drop Speculation - A prediction there will be some nasty trade news for the National Party as it begins its conference in Wellington today. Labour’s finance spokesperson Michael Cullen reckons today’s trade surplus figures for May will reveal a $70 million drop, down dramatically from the normal figure of $300million.

A major New Zealand meat company claims our loss over the lamb export tariff issue will see American lamb lovers digging a lot deeper into their pockets. After months of delays the United States has announced to impose hefty tariffs on New Zealand and Australian lamb exports in an attempt to protect the American sheep market. NZ meat exporter AFFCO says it has been hit hard by the decision given it has a shareholding in New Zealand lamb companies. AFFCO will raise prices on the American retail market to pay for the tariffs. AFFCO however, rules out any rise of lamb prices in New Zealand.

Relief this morning for the parents of the UN mining expert accused of ecological terrorism in Iraq. He is now safely in Jordan after being accused of planting locust eggs near crops on the Iraqi border. The Greymouth based parents say now their son is safe the focus must now go on clearing their son’s name.

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