News

US President Donald Trump signed an executive order for new tariff rates on a wide swathe of US trading partners to go into effect in seven days (8 August 2025). The new tariff rate for New Zealand - 15% - is an increase from the “baseline” 10% that Trump announced during his “Liberation Day” event on April 2.

Key facts: 

• New Zealand now faces a 15% additional tariff rate. On first reading this would appear to come into force in seven days (8 August 2025). 
• Australia remains at 10%, and the UK also at 10% due to their earlier agreement.
• Chile and Brazil held at 10%, which will impact horticulture and meat export opportunities.
• MFAT thinks this new rate has simply been applied to countries with a trade surplus with the US (we have one of around $500million which is modest) 
• In a Radio NZ interview just now, the Minister has signalled that he is engaging with US contacts and has sought urgent advice from Treasury as to the implications for NZ. 

Read the official announcement here, and the factsheet here