\nNZ Trade Minister Todd McClay says he expects, over the course of this week, the US will impose a 12.5% tariff on NZ imports\n<\/p>\n
Trade Minister Todd McClay is expecting the United States to increase tariffs on New Zealand goods to 12.5% over the course of this week.<\/p>\n
Speaking to reporters on Tuesday afternoon, McClay said: \u201cWe\u2019ve been very clear that we don\u2019t think tariff rates should be imposed against New Zealand.\u201d<\/p>\n
\u201cBut President Trump campaigned on a tariff agenda and he\u2019s doing what he wants to do.\u201d<\/p>\n
The US currently imposes a 10% import tax<\/a> on New Zealand products but through the law this is under, it\u2019s only valid for 150 days<\/a>.<\/p>\n \u201cWe\u2019d expect during the course of this week, it\u2019s probably going back to 12.5%,\u201d McClay said.\u00a0<\/p>\n He said while this was ironically lower than the initial 15%<\/a> that Trump had first suggested, it was still unhelpful.<\/p>\n McClay\u2019s comments come after Trump imposed 50% tariffs on most Canadian goods with a White House fact sheet<\/a> saying this was due to \u201cCanada\u2019s discriminatory treatment of American products.\u201d<\/p>\n \u201cBy doing so, President Trump is offsetting the burden and disadvantage on U.S. commerce from Canada\u2019s discriminatory treatment of U.S. commerce and is leveling the playing field for crucial American exports – cars, alcohol, and dairy.\u201d<\/p>\n Last week, the US hit Brazil with a 25% tariff<\/a> which is set to take effect from July 22. Brazil was the first country targeted under Trump’s new tariff plan, according to Reuters.<\/p>\n NZ and other countries have been bracing themselves for a tariff shock, following an announcement<\/a> from the US Trade Representative in June.<\/p>\n