This trade war is not about trade at all: it’s about politics and most specifically about geopolitics and the economic rivalry between two great powers.
In anticipation of no Brexit on the 29th, the UK has released a new temporary post-Brexit tariff schedule. Nearly 90 percent of imports would become duty-free overnight, but some sensitive NZ exports would still face tariffs and tariff rate quotas (TRQs).
The last year has been something of a roller-coaster ride for the relationship between New Zealand and China. Against a background of great power rivalry and geo-political tension, points of difference between the two countries have emerged to test the resilience of the “comprehensive strategic partnership” which was agreed back in November 2014.
Just as well the magi didn’t face tariffs at the border 2018 will not go down in history as a good year for trade. While [read more…]
Trump just announced plans to impose new tariffs on steel – New Zealand’s own exports to the US are relatively small, at $39 million in steel and a further $14 million in steel products, and $23 million in aluminium. However markets like the EU, Korea and Canada will be amongst those greatly affected. Does a trade war loom?