NZ-US Trade, Agriculture Talks: Gov’t Statement
Agriculture, Trade and Investment Minister Todd McClay met with US Trade Representative Jamieson Greer, and Secretary of Agriculture Brooke Rollins, in Washington this week to express New Zealand’s concerns over US tariffs, and the disadvantage this creates for Kiwi exporters in relation to other countries, many of whom subsidise their production.
Ambassador Greer recognised New Zealand applies low tariffs against US goods. He confirmed that the additional 5 per cent tariff imposed on New Zealand exports last month was in relation to New Zealand’s balance of trade surplus and represented a new bottom tariff rate of 15 per cent, or higher, for all countries that sold more to the US than they bought.
Product-specific trade investigations in areas including steel and aluminium, pharmaceuticals, and timber were also discussed.
Ambassador Greer and Minister McClay agreed that trade officials would meet over the coming months to discuss the impact of tariffs on New Zealand-US trade and consider practical ways to give exporters greater certainty.
Minister McClay recognised New Zealand’s relationship with the United States is important. Two-way trade is well balanced and complementary with New Zealand applying an average tariff rate of just 0.3 per cent on US goods imports. At different times, each side has enjoyed a trade surplus, reflecting the dynamic nature of the trade relationship.
Ambassador Greer and Minister McClay agreed to next meet during the ASEAN Trade Ministers’ Meeting in Malaysia in September and again at the APEC Leaders’ Summit in Korea in October where they would consider any next steps to strengthen trade.
Minister McClay, Secretary of Agriculture Rollins and Ambassador Greer discussed shared concerns about the harm that heavily subsidised, trade-distorting practices of some countries are causing to the New Zealand and US dairy industries.
They agreed that dairy farmers were important to both governments and that they shared significant concerns over the effect these trade-distorting practices have on our respective dairy industries.
They agreed to explore ways to jointly combat these harmful practices and support our dairy farmers.
https://www.beehive.govt.nz/release/statement-following-nz-us-trade-and-agriculture-discussions%C2%A0