US tariff decision gives New Zealand plenty to think about
It could have been worse – but it could have been better. That was the message from New Zealand’s trade and finance ministers in their initial response to Donald Trump’s new, higher ‘reciprocal tariff’. New Zealand exporters of most goods to the United States now face a 15 per cent import duty, a significant increase on the 10 per cent ‘baseline’ figure in place since April. A stony-faced Nicola Willis, the finance minister, called Trump’s move a ‘disappointing development’, arguing that New Zealand had suffered from the application of a ‘very blunt formula which does not take account of the...