Source: New Zealand Institute of Economic Research
09 November 2021
The United States has structured world trade over the past 70 years in a way that has been positive for New Zealand. Now that the United States has relinquished its led trading position, how will Mr Biden behave on trade policy? Ironically, given the electoral straight jacket, he is in, he needs to focus on fixing the United States domestic economy. This may lead to slightly positive outcomes on trade since it will become less of a whipping boy for United States economic ills. In this new trading environment, New Zealand needs to keep on keeping on, working away at building the coalitions of like-minded countries that promote the breaking down of barriers to international trade.
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