Articles tagged with Tariffs
New Zealand Faces Tariff Increase on US Exports: Implications and Response
4 days ago | 250 viewsThe United States will increase tariffs on New Zealand exports from 10% to 15% starting August 7, aligning New Zealand with other US trading partners like Japan and South Korea based on trade deficits. Despite New Zealand's modest surplus of around US$500 million with the US, the overall trade relationship is balanced and complementary. Trade and Investment Minister Todd McClay is urgently seeking to discuss the tariff increase with the US Trade Representative to mitigate its impact on exporters and consumers and maintain the strength of the trading relationship.
Tags: United States New Zealand Todd McClay tariffs trade deficits trade relationship US Trade Representative exporters consumers open tradeNZ-UAE Comprehensive Economic Partnership Agreement Boosts Export Opportunities in $500B Market
2 weeks ago | 207 viewsThe NZ-UAE Comprehensive Economic Partnership Agreement (CEPA) legislation has passed, giving Kiwi exporters access to a $500 billion market that imports 90% of its food, with tariffs on 98.5% of exports immediately removed, rising to 99% in three years. Agriculture, Trade, and Investment Minister Todd McClay highlights the benefits of the agreement in lowering costs, increasing access, and enhancing New Zealand's presence in the Middle East, aiming to capitalize on UAE consumers' demand for safe, fresh products. The CEPA aims to boost two-way trade between New Zealand and the UAE, worth $1.35 billion last year, by reducing red tape, promoting services trade, and supporting investment links, aligning with the government's goal of doubling export value in a decade.
Tags: New Zealand UAE Comprehensive Economic Partnership Agreement CEPA Todd McClay Agriculture Trade Investment Minister exporters tariffs