ExportNZ says Trump winning the US Presidential election signals a bumpy ride for currency markets and a lost opportunity to reduce trade barriers for New Zealand products if the TPPA gets knocked back.
Executive Director Catherine Beard says, “Trump’s anti-trade position and general protectionist stance is concerning. If his intentions to stop US companies from outsourcing overseas and tariff walls eventuate then New Zealand will lose from this.
“The US is an important market for New Zealand. We exported $8.4 billion of goods and services there in 2015. If Trump’s economic policies result in slowing the growth of the US economy, we can expect the demand for New Zealand’s exports to drop too.
“Even though Trump has labelled free trade agreements and the TPPA as “horrible” and “disastrous”, it’s unclear as to exactly what his objections are. Also, it remains to be seen how much these statements were merely political rhetoric.
“We hope that in reality, common sense prevails and there will be a return to a more orthodox position on international affairs. This would include the US taking a leadership role on trade in the TPPA region.”
For more information contact:
Contact: Catherine Beard 04 496 6560 or 0274 633 212
or Stephanie Moakes 021 959 831