A 10 per cent tariff on imports imposed by U.S.
The United States has announced a 10 per cent tariff on all imports of goods, affecting New Zealand exporters who will now face the same rate from this weekend. While the move is significant, New Zealand remains competitive in the U.S. market.
New Zealand's interests are best served in a free trade environment, and tariffs can have far-reaching consequences for the global economy, including inflation, demand, currency stability, and economic growth. The additional costs incurred by these tariffs will largely be passed on to consumers. However, New Zealand is better positioned than some countries facing higher tariff barriers.
The country's bilateral relationship with the U.S. remains strong, and officials will engage with the Administration for more information about the impact of this decision on exporters. New Zealand will also continue advocating for a rules-based trading system.