Source: ACT Party
Responding to President Trump’s announcement of a reciprocal tariff regime, ACT Finance spokesperson Todd Stephenson says:
“ACT has previously argued to scrap our remaining tariffs. President Trump’s announcement makes this urgent.
“New Zealand charges tariffs on imported products like clothing, makeup, biscuits, gardening tools, railway locomotives, and ambulances. Under Trump’s plan, these tariffs would be reflected in tariffs charged on our exports to the US – unless we choose to ditch the tariffs, in which case Trump’s reciprocal tariffs will be lifted.
“It’s a no-brainer. By scrapping our remaining tariffs we can spare local exporters from the cost of a reciprocal American regime. At the same time, we’ll be cutting the cost of popular imported goods for Kiwi households and firms.
“When two countries trade, both are better off. New Zealand has preached the gospel of free trade on the world stage since the 1980s, and it’s time to start practising what we preach.
“It appears possible that Trump’s plan will impose a reciprocal tariff in response to our GST regime. This would impose a significant cost on companies exporting to the US. Abolishing our remaining tariffs would at least somewhat offset this cost.”
