Trade and Investment Minister, Todd McClay says New Zealand will remain competitive against other exporters in the US market, despite today’s announcement of a 10% tariff on all imports of Kiwi goods.
US President Donald Trump this morning confirmed a raft of tariffs on more than 125 countries, including 10% on imports coming from New Zealand.
Mr McClay said New Zealand’s interests are best served in a world where trade flows freely.
“Tariffs have consequences for the global economy – impacting inflation, demand, currency stability, and economic growth,” he said.
“Today the US has announced a 10% tariff on all imports of good, with many countries facing much higher tariffs on a reciprocal basis. New Zealand exporters will face a 10 per cent tariff rate from this weekend.”
“While these tariffs create additional costs that will largely be passed on to consumers, New Zealand is in a stronger position than many other countries, some who are facing higher tariff barriers. This reinforces the importance of our work to create new trade opportunities and reduce barriers for our exporters in the EU, UK, UAE, GCC and most recently India.Â
“New Zealand’s bilateral relationship with the U.S. remains strong. We will be talking with the Administration to get more information, and our exporters to better understand the impact this announcement will have.
“We will continue to advocate for a rules-based trading system,” he said.
