Trade Minister to visit Geneva and Dubai
Trade Minister Todd McClay departs today to visit the World Trade Organisation (WTO) in Switzerland and the United Arab Emirates (UAE).
Mike Petersen says the potential US-China trade war poses long term threats for NZ products.
If there is a tariff on a product from the US into China, you’d have to question where that product will go, he says. It could displace NZ product in other parts of the world or it could find its way to NZ.
“The whole displacement effect could have a big effect on NZ as a country that relies very much on exporting and access to markets,” Petersen says.
“While it is not an issue directly impacting NZ, the spillover effects could be significant. They are the ones we have got to watch very closely.”
Petersen says several people suggest NZ may be advantaged by a US-China trade war.
“There may be a short term opportunity for some products into these markets as a result of the tariffs but the long term risk of it impacting on NZ products is far greater,” he says.
In some ways NZ needs to keep its head down; it does not need to join sides on any of this, Petersen says.
“We need to keep our head down – keep calm and carry on. But equally we need to make sure our voice is heard and that people understand the risks of the trade war that is looking increasingly likely.”
Federated Farmers president Wayne Langford is claiming “some real success” on the 12 policy priorities it placed before the Coalition Government.
Federated Farmers is throwing its support behind the Fast-track Approvals Bill introduced by the Coalition Government to enable a fast-track decision-making process for infrastructure and development projects.
The latest report from ANZ isn’t good news for sheep farmers: lamb returns are forecast to remain low.
Divine table grapes that herald the start of a brand-new industry in Hawke’s Bay have been coming off vines in Maraekakaho.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.