Donald Trump could affect NZ exports: BusinessNZ

BusinessNZ chief executive Kirk Hope said New Zealand’s prosperity relied on open and free trading of export products.

If the US, which was New Zealand’s third largest export market, were to take a more closed approach to trade in the future, New Zealand export returns could be affected.

“Trade with the US earns New Zealand over $5 billion a year in products including meat, dairy and wine, and over $2 billion a year in services,” Hope said.

Trump, a celebrity businessman with virtually no political experience, has promised to tear up trade agreements which do not benefit US interests such as the Trans-Pacific Partnership Agreement, as well as imposing punitive tariffs on Mexico and China.

Hope said the tariffs increased the possibility of tariff retaliation and general increases in protectionism by other countries.

In general, this could decrease international trade, which would not be in New Zealand’s interest as a trade-reliant economy.

A note from the New Zealand Institute of Economic Research (NZIER) claimed that a Trump victory would be “horrible” for New Zealand’s economy, with both households and companies suffering.

NZIER deputy chief executive John Ballingall said this would lead to “significant instability” in financial markets as well as an increase in borrowing costs and tighter credit conditions for mortgage-holders.

Longer term, NZIER pointed to one warning that Trump’s plans to impose hefty tariffs on Chinese and Mexican imports cutting 4.8 million jobs.

This would likely hurt New Zealand’s $8.4b of goods and services exports to the US, as well as slowing global growth, which could hurt New Zealand’s exports more generally.

Former New Zealand prime minister Jim Bolger said Kiwis would have to expect a “different world economy” under a Trump presidency.

“New Zealand is so dependent on international trade that anything a Trump presidency did to slow world trade would have an impact on New Zealand.”
Source:  Stuff



Any claim arising from the information contained on the eDairy News website shall be submitted to the competence of the ordinary courts of the First Judicial District of the Province of Cordoba (Primera Circunscripción Judicial de la Provincia de Cordoba), Republic of Argentina, in the city of Córdoba, excluding any other jurisdiction (Federal jurisdiction is also excluded).


Criteria in the moderation of comments that eDairy News will take into consideration in all its publications.

  • They will not be considered insults of any kind against anyone,, whether a user, moderator or publisher. Complaints made with the name and surname of the author of the commentary will only be accepted after confirmation by the moderator.
  • Unsubstantiated and gratuitous destructive criticism or expressions of bad taste, whether offensive, racist or xenophobic.
  • SPAM, (Insert links to web pages not related to the subject, provide emails, etc...)
  • Comments that are meaningless with the footnote or the dairy sector.

Related posts