NZ Herald Morning News Update | Trumps tariffs illegal, former home of former Prince Andrew searched, future of Mount Maunganui walking tracks remains unclear. Video / NZ Herald
Trade and Investment Minister Todd McClay says the US Supreme Court’s new ruling deeming Donald Trump’s global tariffs illegal is “welcome news” but acknowledges “considerable uncertainty” remains.
In a major development, the US Supreme Court has ruled the widespread tariffs the US President imposed on almost every country in theworld were illegal.
That included a 15% tariff Trump placed on New Zealand exports to the US.
The President imposed these tariffs on April 2 last year, which he called “Liberation Day”, by invoking a 1977 law meant for national emergencies.
The Supreme Court ruled 6-3 that he had exceeded his authority in doing so.
“Our exports have been holding up well overall in the US market since the administration imposed a 15% tariff on New Zealand, with evidence that in many cases cost increases are being passed on.”
He said any reduction in tariffs would be “welcome news”.
“New Zealand does not believe the 15% tariff imposed on many of our exporters is warranted given the average tariff rate applied to US goods into New Zealand is just 0.3%.”
McClay said New Zealand’s embassy in Washington would get more information so they could continue to work with exporters but uncertainty around US tariff policy would likely remain for an extended period of time.
Meanwhile, Trump said he was “ashamed of certain members” of the Supreme Court for ruling that his “reciprocal” tariffs were unlawful.
“They’re very unpatriotic and disloyal to our Constitution,” Trump said.
