New Zealand's Finance Minister Nicola Willis expressed confidence in the country's trade relationship with the United States, despite looming tariff threats from President Donald Trump. Willis emphasized the balanced and complementary nature of the trade, citing the export of meat and wine to the U.S. and the import of significant goods and services from the U.S. The strong economic ties, coupled with the 'Five Eyes' intelligence alliance, solidify the strategic relationship between the two nations.
Finance Minister Nicola Willis expressed optimism about New Zealand 's trade relationship with the United States , despite global tariff threats from U.S. President Donald Trump. Willis emphasized that New Zealand enjoys a balanced and complementary trade relationship with the U.S., highlighting the country's exports of meat and wine, while importing significant goods and services from the United States . New Zealand 's trade with the U.S. reached NZ$25.
8 billion in the 12 months ending March 2024, with exports amounting to NZ$14.6 billion (US$8.26 billion) and imports at NZ$11.4 billion. This resulted in a trade surplus of NZ$3.5 billion, making the U.S. New Zealand's second-largest export market, surpassing Australia. Willis underscored the mutually beneficial nature of the relationship, citing New Zealand's participation in the 'Five Eyes' intelligence alliance as a cornerstone of the strong strategic ties between the two nations. When questioned about the potential impact of Trump's announced tariffs on steel and aluminum imports, Willis stated that tariff decisions rested with the U.S. administration and that New Zealand would address the situation if tariffs were implemented. She expressed confidence that the New Zealand dollar's flexibility would act as a buffer, as a weaker kiwi would enhance the competitiveness of New Zealand's exports. Willis also acknowledged New Zealand's 'significant current account deficit' but reassured that the exchange rate's adaptability would facilitate balancing
New Zealand United States Trade Tariffs Five Eyes Economy Finance Minister Nicola Willis
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