US President Donald Trump has signalled an imminent announcement of 25% tariffs on all steel and aluminium imports into the US, a trade policy which has the potential to impact New Zealand.
Speaking to reporters on Air Force One as he flew to New Orleans to attend the Super Bowl, Trump also reaffirmed that he would announce “reciprocal tariffs” —“probably Tuesday or Wednesday” — meaning that the US would impose import duties on products in cases where another country has levied duties on US goods.
“If they are charging us 130% and we’re charging them nothing, it’s not going to stay that way.”
New Zealand exports some steel and aluminium products to the US.
In 2018 during his first term, Trump also imposed tariffs on steel and on aluminium.
Several trading partners, including Canada, Mexico, and Brazil, were granted duty-free quotas.
New Zealand was not included in this exemption list, which disappointed the then Labour Government led by Prime Minister Jacinda Ardern.
“We are concerned at the possible implications for our domestic producers,” said then Trade and Export Growth Minister David Parker.
“While our exports of steel and aluminium to the US are not large, they are important to the businesses and workers in those industries.”
During his term, former US President Joe Biden extended the duty-free quotas to the United Kingdom, Japan, and the European Union, but not to New Zealand.
White House spokesperson Karoline Leavitt confirmed that the new tariffs from the Trump administration would come on top of existing duties on steel and aluminium.
According to MFAT, total goods exports to the US were valued at $8.3 billion in 2023.
Additional reporting by the Associated Press.
