New Zealand has ‘complementary’ trade ties with the U.S., finance minister says, as Trump tariff threat looms

New Zealand has ‘complementary’ trade ties with the U.S., finance minister says, as Trump tariff threat looms


New Zealand Finance Minister: We have 'balanced and complementary trade relations' with the U.S.

Global tariff threats from U.S. 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 distinguished in that we have a very balanced and complementary trade relationship with the United States,” adding that it’s “hopeful of pursuing ongoing positive trade relationships” with it.

She noted that the U.S. imports meat and wine from the country, and New Zealand imports “significant goods and services from the United States.”

Trump on Sunday said he will announce global tariffs of 25% on steel and aluminum imports into the U.S, adding on to earlier threats of tariffs 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 export market — and imported NZ$11.4 billion for the 12 months 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 works for both parties,” pointing out that New Zealand is also part of the “Five Eyes” intelligence alliance, which she said is “a foundation of a very strong strategic relationship.”

The “Five Eyes” is an intelligence alliance comprising Canada, the United States, the U.K., 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 U.S. 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 that a lower New Zealand dollar will assist the country’s exporters by making exports more competitive.

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

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

Stock Chart IconStock chart icon

hide content



Source

India expects ‘preferential’ tariffs in a trade deal with U.S., says India’s commerce minister
World

India expects ‘preferential’ tariffs in a trade deal with U.S., says India’s commerce minister

India expects to secure “preferential” tariffs from the United States that are better than those achieved by its economic rivals, according to India’s Commerce and Industry Minister Piyush Goyal. Goyal, who led the negotiations on the U.K.-India trade agreement, signaled a confident approach from New Delhi in ongoing trade talks with Washington. “India will get […]

Read More
CNBC Daily Open: Tesla’s bad things come in threes
World

CNBC Daily Open: Tesla’s bad things come in threes

A Tesla vehicle is parked outside of a dealership on July 24, 2025 in Austin, Texas. Brandon Bell | Getty Images Tesla’s going through a bumpy ride. The electric vehicle company on Wednesday reported a second consecutive quarter of declining auto sales. In Europe, Tesla’s market share fell for the sixth straight month to 2.8% […]

Read More
Asia-Pacific stocks trade lower as investors weigh recent trade developments
World

Asia-Pacific stocks trade lower as investors weigh recent trade developments

Asia markets start Friday trading in the red Asia markets started the trading day lower. Japan’s benchmark Nikkei 225 fell 0.24%, while the Topix lost 0.55%. South Korea’s Kospi was flat and the small-cap Kosdaq slipped 0.48%. Australia’s S&P/ASX 200 lost 0.41%. —Lee Ying Shan Asia markets set to open lower Good morning from Singapore. Asia markets were […]

Read More