Executive Director Stephen Jacobi read out on the recent Delhi business mission, published earlier by Newsroom.

read more

Trade debate takes off in US – and NZ!

by | May 2, 2015 | Uncategorized


On a rare day in Washington recently it looked as though the Congress and Administration could finally agree on something. Congressional leaders from both sides released for discussion a draft ‘fast track’ trade bill to authorise the President to conduct and complete trade negotiations including TPP. Subsequent wrangling revealed the limits of bipartisanship as the President fought hard to convince fellow Democrats and the Republican leadership sought to placate Tea Party protectionists. The debate was as much about the roles and responsibilities of legislative and executive branches as trade itself. It revealed however an extraordinary scepticism, if not downright hostility, about the effects of trade on the US economy. Offshoring and job losses are routinely raised while little attention is paid to increasing productivity at a time of economic downturn – this essentially means American workers are producing more with less but there is less demand. What to do if not trade more, ie grow demand for American goods worldwide by reducing costs and increasing efficiency in supply consumers’ needs. That debate continues as the renamed ‘Trade Promotion Accountability” bill makes its way through Congress as an essential pre-requisite for concluding TPP.

Trade is also increasingly under scrutiny in NZ as TPP gathers momentum and the NZ Korea FTA is debated by the Parliamentary Select Committee (so much for the accusation that these things are done in secret!). The Korea FTA is not a perfect agreement (some tariffs will remain even after a lengthy implementation period) but it was important to be concluded to ensure NZ was not discriminated against in the Korean market where a number of competitors already have FTAs. The public debate is more about the investment provisions of the FTA, which are seen as a stalking horse for TPP.  In fact the Korea FTA goes further than previous FTAs in maintaining a balance between investor protection and the right to regulate. There is little risk to NZ from this agreement.

This post was prepared by Stephen Jacobi, Executive Director of the NZ International Business Forum www.nzibf.co.nz


Register to stay up to date with latest news, as well as saving and discussing articles you’re interested in.




Latest News


Published by Newsroom on 6 September 2023 Stephen Jacobi reports on the recent business delegation to India. Every country has its contrasts and a subcontinent of 1.4 billion with thousands of years of history has more than most.  Today’s India can reach the...

Large business delegation bound for India

MEDIA RELEASE - Tuesday 22 August, 2023 Fifty business representatives will leave later this week bound for Delhi, making it one of the largest delegations ever to head for India. The delegation, comprising members and senior leaders of five business organisations,...

India and New Zealand: The next innings

As published in the NZ Herald, 18 August 2023 By Stephen Jacobi As a trade mission prepares to depart for Delhi, Stephen Jacobi of the New Zealand International Business Forum considers the prospects for growing two-way trade and investment between India and New...


As published in the NZ Herald, 18 August 2023. By Stephen Jacobi, Executive Director, NZ International Business Forum. Following the Ministers’ meeting in Auckland, what is the outlook for CPTPP as the world’s most ambitious free trade agreement? When Ministers...


The Australia-New Zealand Leadership, the semi-annual gathering of Ministers and business leaders, has been described as a “successful symbol of trans-Tasman togetherness[1]”.  And the togetherness vibe was certainly present when the Forum gathered in Wellington...


This post was published by Hinrich Foundation on 18 July 2023. Following the Ministers’ meeting in Auckland, what is the outlook for CPTPP as the world’s most ambitious free trade agreement ? By Stephen Jacobi When APEC Trade Ministers gathered for their annual...