McClay pushes back on new US tariffs on NZ goods
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.
News of plans to upgrade New Zealand’s free trade agreement with China should open trade doors for more timber exports to China.
The FTA would also give more employment in New Zealand, says the New Zealand Wood Council chair, Brian Stanley.
The Prime Minister, John Key, says New Zealand’s main aim in the China FTA upgrade is to reduce dairy quotas, but he also emphasised other improved trade prospects in China, including timber exports.
New Zealand dairy exports to China are presently worth $2.9 billion a year, while forest products are New Zealand’s second most important export to China, at $1.8 billion a year.
Stanley says the New Zealand negotiators will be looking at current non-tariff barriers for New Zealand timber exports to China.
“The Chinese timber industry has all sorts of government assistance against imports, and even when we are competing against other exporters there, such as the US and Canada, the Chinese regulations are stacked against us,” says Stanley.
“We’d also want more transparency in their phytosanitary rules.”
Stanley says the New Zealand industry would like to see the China FTA result in more production and work for processors in New Zealand.
“At the moment China takes more than two-thirds of our log exports, but it lags behind the United States, Australia and Japan for importing processed timber from New Zealand, such as sawn timber, panels and paper.”
The Taranaki region is enjoying one of the highest gross domestic product (GDP) per capita figures in New Zealand, thanks to high farmgate dairy prices.
Fertiliser co-operative Ravensdown is working on delivering a rebate for its farmer shareholders next year - the first in four years.
New Zealand avocado growers have received a major boost by securing a collective FernMark Licence for their exports.
Beef + Lamb NZ's countrywide director roadshow arrived in Feilding last week, bringing with it ongoing positivity in the sector, an overview of the work B+LNZ does on behalf of levypayers and a proposed change on how the levy would be collected in the future.
A stronger than expected outlook for dairy has prompted one bank to lift its 2025-26 season forecast milk price by 75c to $10.25/kgMS.
Chinese dairy giant Yili Group says its New Zealand operations are on track for strong revenue growth in 2025 after recording significant year-on-year growth for the first half of the year.
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