New Zealand PM Doesn’t Expect to Win US Tariff Reprieve

Bloomberg08-11

New Zealand Prime Minister Christopher Luxon has conceded the government is unlikely to win a reduction in the tariff rate the US has applied to New Zealand goods.Officials were taken by surprise when...

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JediGingerNinja
08-11
JediGingerNinja
If I was running the show I would've canceled 16B military spend as soon as they changed the terms of the tarrif.. our military only used for humanitarian work anyway. And we the citizens are struggling enough without the government borrowing more money they don't have

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However, speaking to Radio New Zealand Monday in Wellington, Luxon said he didn’t expect to win a reprieve.“Essentially for us it’s really about making sure that we have an ongoing dialog with the Americans,” he said. “I don’t think it’s going to change our situation in a tariff sense, the President and the administration is pretty set on that.”The US is New Zealand’s second-largest export customer, buying NZ$9.3 billion ($5.5 billion) of goods in the year through June. Imports from the US were worth NZ$8.7 billion, creating a small trade surplus for New Zealand.New Zealand has argued that the surplus is not meaningful and that two-way trade between the nations is largely balanced.Finance Minister Nicola Willis last week played down the economic impact of the increased US tariff rate, saying “in terms of the overall economy, this is not a big shock, it’s a small one.”The main opposition Labour Party said the increased tariff was a “major fail” for the government when other nations had managed to cut a deal.","news_type":1,"symbols_score_info":{"T10G.NZ":1.1,"NZ20C.NZ":1.1,"NZ50G.NZ":1.1}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":2,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1161799350","isCrawlerRequest":true}