News

Key Points for NZ Exporters:

• The Trump Administration has announced a new 15% tariff under Section 122 of the US Trade Act 1974, which is expected to apply to the majority of New Zealand goods exported to the United States.
• This 15% rate replaces the previous IEEPA “reciprocal tariff” and is the same headline rate New Zealand exporters were facing prior to the Supreme Court ruling.
• Previously announced tariff exemptions for certain agricultural goods (including kiwifruit, beef, and avocados) are expected to remain in place, although exporters should confirm classification at the HS-code level.
• The Section 122 tariff does not generally stack on top of existing Section 232 tariffs. However, for Section 232 steel, aluminium, and copper products where the value of metal and non-metal content must be separated, the Section 122 tariff applies to the non-metal portion.
• Exporters who are uncertain about how these changes affect their shipments should speak with their customs broker, freight forwarder, and US-based customers as soon as possible.

 
For more extensive coverage, have a read of the ExportNZ Trade & Policy Update for February