The Trump Blog
Minister to clarify with Washington that NZ does not impose 20% tariffs on US imports
Trade Minister Todd McClay says the Government is taking time to understand what effect the 10% tariff rate imposed by the US will have on the New Zealand economy, but has asked officials to clarify with Washington that New Zealand does not impose a 20% tariff rate on US imports as stated by Donald Trump this morning.
"US exporters, the average is about 1.9% they face in New Zealand, that would take it below 17% ... we'll make the case in Washington today," he told reporters in Parliament.
McClay explained the sweeping tariffs imposed by the US were likely to impact on international trade, inflation and currency rates, which would affect the New Zealand economy. He understood it would be a blanket 10% tariff rate.
"Whilst this is not unexpected this is something that will have an impact on New Zealand exporters," he said. "We are talking closely with exporters."
"Tariffs rates and trade wars in themselves are not good for the world economy, there will be some impact, and that will flow through to New Zealand."
He had already made the case to the US about New Zealand's low tariff rate, he said.
"US exporters, the average is about 1.9% they face in New Zealand, that would take it below 17% ... we'll make the case in Washington today," he told reporters in Parliament.
McClay explained the sweeping tariffs imposed by the US were likely to impact on international trade, inflation and currency rates, which would affect the New Zealand economy. He understood it would be a blanket 10% tariff rate.
"Whilst this is not unexpected this is something that will have an impact on New Zealand exporters," he said. "We are talking closely with exporters."
"Tariffs rates and trade wars in themselves are not good for the world economy, there will be some impact, and that will flow through to New Zealand."
He had already made the case to the US about New Zealand's low tariff rate, he said.
