New Zealand regarding US trade relations despite tariff threats
Aside from the global tariff threat from US President Donald Trump, New Zealand is optimistic about its trade ties with the United States.
Talk to CNBC.”Sco Box Asia“New Zealand’s Finance Minister Nicola Willis said, “New Zealand is distinguished in that it has a very balanced and complementary trade relationship with the United States,” he said, “continuing active trade with it.” I hope to pursue a relationship.”
She said the US imports meat and wine from the country, and New Zealand imports “important goods and services from the US.”
Trump said on Sunday He announces a 25% global tariff on steel and aluminum imports into the US, adding to the previous threats of tariffs in Canada and Mexico.
According to New Zealand’s Ministry of Foreign Affairs and Trade, the country export New Zealand’s $14.6 billion ($8.26 billion) goods and services to the US – surpassing Australia to become New Zealand’s second largest export market, and for the 12 months to close in March 2024, NZ $11.4 billion I imported dollars.
This represents NZ’s $3.5 billion trade balance and NZ’s total trade value of $25.8 billion, not adjusted for inflation.
Willis described the relationship with the two countries as “a country that works for both parties,” noting that New Zealand is also part of the “Five Eyes” intelligence alliance, and that she said, “a very strong strategic relationship.” “The foundation of this.”
“Five Eyes” is an intelligence alliance that includes Canada, the US, the UK, Australia and New Zealand.
When asked if that means that the country can avoid tariffs from Trump, Willis said “decisions on tariffs are a matter of the US administration,” and New Zealand said “in the event that it occurs.” They will deal with the situation.”
She believes that if New Zealand dollars implement tariffs, New Zealand dollars will provide some buffers, and New Zealand dollars will make exports more competitive, making exports more competitive. He says he will support it.
The Kiwi recently traded with Greenback at 0.5515 on February 3, weakening to its lowest point for over two years.
Willis also acknowledged the country’s “current account deficit,” but added that the exchange rate flexibility can be “balanced.”
