Tariff hike due from July 24 | Herald NOW Business

Tariff hike due from July 24 | Herald NOW Business <!--mynz:youtube-chapters--> {"v":1,"chapters":[{"timeSeconds":0,"label":"New Zealand Exports Face US Tariff Hike","summary":"A 12.5% US tariff is set to be imposed on goods from 45 countries, including New Zealand, starting July 24th."},{"timeSeconds":18,"label":"NZ Government Objects to Tariffs","summary":"The New Zealand government has objected to these tariffs, which are based on claims of forced labor in supply chains."},{"timeSeconds":50,"label":"Impact on NZ Exporters","summary":"The tariffs could significantly impact New Zealand exporters, potentially increasing costs for consumers and affecting trade balances."},{"timeSeconds":104,"label":"Specific Products Affected","summary":"While a broad tariff is being considered, specific products like kiwi fruit and beef exports are particularly vulnerable to these new charges."},{"timeSeconds":202,"label":"US Justification for Tariffs","summary":"The US claims these tariffs are linked to forced labor practices, aiming to rebalance trade deficits and make US companies more competitive."},{"timeSeconds":212,"label":"Broader Implications for NZ","summary":"The tariffs could lead to higher prices for consumers and may prompt New Zealand exporters to diversify their markets."},{"timeSeconds":334,"label":"Future Uncertainty and Mitigation","summary":"While the exact impact is uncertain, New Zealand businesses are concerned about potential future investigations and the broader economic consequences."}]} <!--/mynz:youtube-chapters-->