Global trade war 'bad news for NZ'
A global trade war beckons, which is bad news for a small open economy like New Zealand, warns Mark Smith ASB senior economist.
OPINION: Donald Trump's focus on Canada is causing concern for the country’s dairy farmers.
While Trump wants to make Canada the 51st US state, it’s clear that the Canadian dairy industry is also on the president’s mind.
The US is said to have long desired to expand access to the tightly controlled Canadian dairy market. At the same time, Canada has strongly defended its supply management system. Trump linked his threat to impose 25% tariffs on Canada and Mexico to claims about fentanyl and migrants. And, when it comes to dairy, the new Trump administration is making it clear that Canada will face a familiar fight.
Dairy trade might be small – the US exported US$1billion worth of dairy to Canada in 2023, while the total amount of goods shipped across its northern border was about US$354 billion – but the industry has a reputation as a long-time, cross-border irritant.
Canadian dairy farmers hope the current trade imbalance in dairy, which greatly favours the US, will be a saviour. Canada exported about $300m in dairy products to the US in 2023.
Federated Farmers supports a review of the current genetic technology legislation but insists that a farmer’s right to either choose or reject it must be protected.
New Zealand’s top business leaders are urging the US Administration to review “unjustified and discriminatory tariffs” imposed on Kiwi exporters.
New tariffs imposed by President Donald Trump signal an uncertain future, but New Zealand farmers know how to adapt to changing conditions, says Auriga Martin, chief executive of Farm Focus.
A global trade war beckons, which is bad news for a small open economy like New Zealand, warns Mark Smith ASB senior economist.
Carterton's Awakare Farm has long stood as a place where family, tradition and innovation intersect.
Fonterra says the US continues to be an important market for New Zealand dairy and the co-op.
OPINION: Is it the beginning of the end for Greenpeace?
OPINION: The good times felt across the dairy sector weren't lost at last week's Beef + Lamb NZ annual meeting.