According to the New Zealand government, these food products represent around 25 per cent of the country’s exports to the US and are worth roughly NZ$2.21 billion ($1.25 billion) annually. New Zealand beef imports into the US have incurred a loss of over NZ$300million following the tariffs, despite strong demand and firm prices in the past couple of months.
Trump’s exemptions arrived a day after the United States reached trade framework agreements with four Latin American countries. It includes 10 per cent tariffs on most goods from Argentina, Guatemala, and El Salvador, while 15 per cent tariffs from Ecuador. According to the new trade agreements, duties were also removed on certain products not grown or produced in the US in sufficient quantities, such as bananas and coffee. The latest announcement, on 200 items, is expected to bring the prices down. The items range from oranges, acai berries, and paprika to cocoa, chemicals used in food production, fertilizers, and even communion wafers.
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