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).
Less than two weeks before “B-Day”, the Brexit process has descended into disarray. There is still a risk that the UK will crash out of the EU on or shortly after 29 March with no deal in place, notwithstanding King Canute-like attempts to avert this. Perhaps more likely, however, there is a prospect of a long delay of months or years – or equally that PM May’s original Withdrawal Agreement will finally be agreed, meaning in effect status quo ante for trade until the end of 2020. All of this leaves business – including New Zealand exporters – with little certainty, even as the clock ticks down to Brexit.
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.
In her valedictory blog as she prepares to step down from her term on the APEC Business Advisory Council (ABAC), ABAC NZ member Katherine Rich [read more…]
The flow of data across borders now drives more economic growth than the flow of goods – but digital trade regulation lags far behind the realities of international e-commerce and other activity “in the cloud”. New Zealand, along with 75 other WTO members, has agreed to negotiate new trade rules in this area.
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…]
Brexit has a certain Humpty-Dumpty quality to it The already-parlous state of the Brexit process has worsened this week, with a decision by PM May [read more…]
21 APEC economies gather this week in Papua New Guinea but overhanging the Asia-Pacific meeting is the spectre of trade war and rising protectionism.
The China dream of a prosperous and integrated economy is set against the challenging backdrop of a trade war, the opposite of peace.
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?