increase font size
Trade expert Stephen Jacobi.
US president-elect Donald Trump has the powers, delegated by Congress, to wreak havoc on international trade, says trade expert Stephen Jacobi.
The question is “will he use them?” Jacobi asks.
“The impacts and choices for New Zealand under a Trump presidency are unclear at best,” says Jacobi, a former diplomat who is executive director of the NZ International Business Forum and also on the NZ China Council.
“In the short term, I find it hard to see a way through for the Trans Pacific Partnership (TPP) in the ‘lame duck’ session,” he says.
“Longer term, the issues behind TPP (market access, better trade rules, actions to promote investment and reducing the costs of doing business) will all need to be addressed.”
Going forward, it’s all about policy, people and the president himself, he says.
“On policies, what will be the approach to trade agreements and what will be the new normal in the US relationship with China?”
Jacobi says it remains to be seen whether Trump really will rip up the North American Free Trade Agreement (NAFTA) between US, Canada and Mexico.
“What about multilateral agreements like the WTO and the Paris Agreement on Climate Change? “On people, who will advise Trump on trade? Will the Republican establishment come back to serve in a Trump administration?
“On the president, how will his unpredictable and abrasive nature play into global policy?”
OPINION: It's good news that Finance Minister Nicola Willis has slashed $1.1 billion from new spending, citing "a seismic global economic event" - Donald Trump's trade tariffs - and unsustainable debt, but with the Government reportedly borrowing $500 million a week, interest costs now exceed the combined budgets of Police, Corrections, Justice and Defence.
Deputy Prime Minister and Foreign Minister Winston Peters has sought to silence critics who insist that New Zealand should be responding hard and publicly to US President Donald Trump's tariff policy.
OPINION: Despite the volatility created by the shoot-from-the-hip trade tariff 'stratefy' being deployed by the new state tenants in the White House, farm commodity prices are holding their own.
OPINION: The irony of President Trump’s tariff obsession is that the worst damage may be done to his own people.
Since Donald Trump’s import tariff announcement, the world has been on a wild economic ride.
A technical lab manager for Apata, Phoebe Scherer, has won the Bay of Plenty 2025 Young Grower regional title.
Following heavy rain which caused flooding in parts of Nelson-Tasman and sewerage overflows in Marlborough, the Insurance & Financial Services Ombudsman Scheme (IFSO Scheme) is urging homeowners and tenants to be cautious when cleaning up and to take the right steps to support claims.
Newly elected Federated Farmers meat and wool group chair Richard Dawkins says he will continue the great work done his predecessor Toby Williams.
Hosted by ginger dynamo Te Radar, the Fieldays Innovation Award Winners Event put the spotlight on the agricultural industry's most promising ideas.
According to DairyNZ's latest Econ Tracker update, there has been a rise in the forecast breakeven milk price for the 2025/26 season.
Despite the rain and a liberal coating of mud, engines roared, and the 50th Fieldays Tractor Pull Competition drew crowds of spectators across the four days of the annual event.
OPINION: ACT MP Mark Cameron isn’t everyone’s cup of tea, but he certainly calls it how he sees it, holding…
OPINION: Did former PM Jacinda Ardern get fawning reviews for her book?
