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Trade Minister Todd McClay
Trade Minister Todd McClay says the US tariff decision appears to be based on a calculation of trade deficits, with countries running a surplus with the US moved to the higher rate.
He says in NZ's case our surplus is a modest US$500 million, and is not overly significant in the context of the US economy.
He says over the past decade there have been times when the US has enjoyed a significant surplus over us and overall, our trade is balanced and complementary.
McClay says he's seeking an urgent call with the US Trade Representative to make NZ's position clear, because the 15% tariff they have imposed risks harming exporters and consumers of both countries.
"The US currently faces an average tariff of just 0.8 per cent when exporting to NZ, far lower than what we face into their market," he says.
McClay says NZ has always stood for open, rules-based trade and will continue to advocate strongly for a resolution that supports our exporters and maintains the strength of our trading relationship with the United States.
Former Labour Trade Minister Damien O'Connor describes the US tariffs as a serious intervention on global markets and the core products that the NZ primary sector exports.
He believes it may take some time for the effects of the new tariffs to hit the pockets of NZ farmers but it will have a significant impact on our meat processing plants, which he says are really squeezed financially with some not making profits.
He says everyone will have to adjust to the inevitable changes in the market, but this will cost money.
O'Connor says recent initiatives by the industry to lure consumers to NZ products are good.
He points to the recent Taste Pure Nature campaign in China and Zero Carbon beef by Silver Fern Farms as examples of this.
"But this tariff disruption is no doubt going to squeeze them and the farmers over time," he says.
A function at Parliament on 7th October brought together central government decision-makers, MPs, industry stakeholders and commercial partners to highlight the need for strategic investment in the future of Fieldays and its home, the Mystery Creek Events Centre campus.
Opening a new $3 million methane research barn in Waikato this month, Agriculture Minister Todd McClay called on the dairy sector to “go as fast as you can and prove the concepts”.
New Zealand’s trade with the European Union has jumped $2 billion since a free trade deal entered into force in May last year.
Agriculture and Forestry Minister, Todd McClay is encouraging farmers, growers, and foresters not to take unnecessary risks, asking that they heed weather warnings today.
The climate of uncertainty and market fragmentation that currently characterises the global economy suggests that many of the European agricultural machinery manufacturers will be looking for new markets.
Acclaimed fruit grower Dean Astill never imagined he would have achieved so much in the years since being named the first Young Horticulturist of the Year, 20 years ago.
The Ashburton-based Carrfields Group continues to show commitment to future growth and in the agricultural sector with its latest investment, the recently acquired 'Spring Farm' adjacent to State Highway 1, Winslow, just south of Ashburton.
New Zealand First leader and Foreign Affairs Minister Winston Peters has blasted Fonterra farmers shareholders for approving the sale of iconic brands to a French company.
A major feature of the Ashburton A&P Show, to be held on October 31 and November 1, will be the annual trans-Tasman Sheep Dog Trial test match, with the best heading dogs from both sides of the Tasman going head-to-head in two teams of four.
Fewer bobby calves are heading to the works this season, as more dairy farmers recognise the value of rearing calves for beef.
The key to a dairy system that generates high profit with a low emissions intensity is using low footprint feed, says Fonterra program manager on-farm excellence, Louise Cook.
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