News

New Zealand has ‘Complementary’ Trade Ties with the Us, Finance Minister Says, as Trump Tariff Threat Looms

New Zealand Finance Minister: We have'balanced and complementary trade relations' with the us

Global Tariff Threats from Us President Donald Trump Aside, New Zealand is Optimistic About Its Trade Relationship with the United States.

Speaking to cnbc’s “Squawk Box Asia“New Zealand Finance Minister Nicola willis said that” new zealand is disting e trade relationships “with it.

She noted that the us imports meat and win from the country, and new zealand imports “Significant goods and services from the united states.”

Trump on Sunday said He will announs global tariffs of 25% on steel and aluminum importants into the us, adding on to earlier threats of tarifs on canada and mexico.

According to new zealand’s ministry of foreign affairs and trade, the country Exported 14.6 Billion New Zealand Dollars ($ 8.26 Billion) in Goods and Services to the United States-Overtaking Australia to become new zealand’s second-largest expenses Ending March 2024.

That represented a trade balance of nz $ 3.5 billion and a total trade value of nz $ 25.8 billion, not adjusted for inflation.

Willis described the relationship between the two nations as “one that work for both parties,” pointing out that new zealand is also part of the “five eyes” Intelligence alliance, which sheid is a living Strategic relationship. “

The “five eyes” is an intelligence alliance Comprising Canada, The United States, The UK, Australia and New Zealand.

When asked if that means the country will be able to avoid tariffs from Trump, Willis said that “decisions on tariffs are matters for the US administration,” and New Zealand “would deal” with the situation if it arises.

She is of the view that the new zealand dollar will provide some buffers if tariffs are implemented, saying a lower new zealand dollar will assist the country’s experts by making expenses more companies.

The Kiwi recently weakened to its lowest point in over two years against the us dollar, trading at 0.5515 to the greenback on Feb. 3.

Willis also across the country’s “Significant current account deficit,” but added that the flexibility of the exchange rate will “allow balance to occur.”

Stock chart iconStock chart icon

hide content

(Tagstotranslate) currency markets

Source link

Hi, I am Tahir, a young entrepreneur working in the finance sector for more than 5 years. I am ambitious to add remarkable value to my country's economy.

Leave a Comment