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Otago Daily Times
7 minutes ago
- Otago Daily Times
Warning US tariff ‘jungle' regrowing
Special agricultural trade envoy Hamish Marr explains the impact of United States President Donald Trump's tariffs on New Zealand exporters. PHOTO: TIM CRONSHAW A trade expert warns the tariff "jungle" is growing back as nations grapple with United States President Donald Trump's fast approaching tariff deadline. Many US trade partners face hefty tariff increases in the fallout, including close allies such as Japan and Korea. Mr Trump's "reciprocal" tariffs have New Zealand exporters watching how it will play out for them, their trading partners and the wider marketplace on the August 1 deadline. Another concern is that Mr Trump's trade policy might encourage more nations to step up protectionism. Ministry of Foreign Affairs and Trade's trade and economic deputy secretary Vangelis Vitalis told meat professionals at the Red Meat Sector Conference in Christchurch last week the uncertainty was a real challenge for exporters looking to trade with the US. He said nobody really knew what was happening in day-to-day international policy. Research showed trade uncertainty was worth the equivalent of at least a 10% to 12% tariff, he said, "The jungle is definitely growing back. We do face a really challenging and turbulent external environment and it's not just the US, although that's a major factor at the moment for uncertainty," Mr Vitalis said. ''The challenges are real, all of the big players are thinking whether these [free trade agreement] rules work for them any more and we place a premium on these rules." A baseline tariff applies to almost every nation, including New Zealand, of 10%, with auto parts at a 25% tariff and aluminium 50%. The 10% tariff is on top of existing tariffs — such as the about 16%-18% New Zealand exporters already face sending frozen vegetables to the US. "Over the last two to three weeks the president has been announcing additional tariffs, he's extended the pause to August 1 and so we know a whole series of tariffs may be imposed at that time, although we also know the president does tend to extend those delays as well so, again, lots of uncertainty." He said the known certainties were the US was striking some deals — including with Vietnam, eliminating all of its tariffs in exchange for a 20% tariff. Some countries not concluding deals had the threat of additional tariffs being placed on them, including 25% on Japan and Korea, while and Brazil was being hit with a 50% tariff on the deadline. Mr Vitalis said the concern for all nations facing a 10% tariff was this might increase to 15%-20%. That would really concern NZ wine, red meat and other exporters, he said. He said a lot of official engagement was being carried out in Washington to talk to counterparts and listen closely to build a picture of Mr Trump's trade direction. "Again we don't actually know what he's going to do, but he's certainly suggesting there are going to be further increases out there." Mr Vitalis said ministerial leaders and officials were taking a structured, calm and thorough approach to the coming challenges. New Zealand wanted to protect its interest in the US as it was our second most important export destination, and the tension between it and China was being followed closely, he said The option he favoured for the global trade turbulence was to negotiate new free trade agreements and expand existing agreements, as explaining the logic of global economic damage from tariffs was not working. Another focus of New Zealand's strategy was pushing back against non-tariff barriers, worth an estimated $22.6b in the Asia/Pacific region alone, and protectionism, he said. Dairy giant Fonterra was modelling trade implications from tariff hikes and the dynamics between the US and China. Fonterra trade strategy manager Justine Aroll said the uncertain trading marketplace was the new normal for the co-op, which exports to 100 markets globally. One of the silver linings was agricultural exporters were familiar with a protectionist and challenging trade environment and had built up resilience in their businesses, she said. "Like other New Zealand exporters our product is facing the additional 10% tariff into the US and for us we are finding our way through that." A concern was the disruption to the global dairy market, the reaction of other countries and the implication of US deals with other countries, she said. Special agricultural trade envoy Hamish Marr said uncertainty was the new certainty. "We have been living in a world of globalisation for many years and now it seems we are not in globalisation — we are in regionalisation." Countries were more focused on food security and New Zealand's strong reputation would mean it was well positioned to navigate through the uncertain times, he said. NZ International Business Forum executive director Felicity Roxburgh said governments around the world were shifting from economics to security for supply chains and critical materials, including red meat.
Otago Daily Times
2 days ago
- Otago Daily Times
White House seeks fines from other universities after Columbia deal
Harvard University. File photo: Getty Images The White House is seeking fines from several universities it says failed to stop antisemitism on campus, including Harvard University, in exchange for restoring federal funding, a Trump administration official said on Friday. The administration is in talks with several universities, including Cornell, Duke, Northwestern and Brown, the source said, confirming a report in the Wall Street Journal. The official, speaking on condition of anonymity, said the administration is close to striking deals with Northwestern and Brown and potentially Cornell. A deal with Harvard, the country's oldest and richest university, is a key target for the White House, the official added. A spokesperson for Cornell declined to comment. Other universities did not immediately respond to requests for comment. Trump and his team have undertaken a broad campaign to leverage federal funding to force change at U.S. universities, which the Republican president says are gripped by antisemitic and "radical left" ideologies. Trump has targeted several universities since returning to office in January over the pro-Palestinian student protest movement that roiled college campuses last year. Columbia University said on Wednesday it will pay more than $200 million to the U.S. government in a settlement with the administration to resolve federal probes and have most of its suspended federal funding restored. The Trump administration has welcomed the Columbia deal, with officials believing the university set the standard on how to reach an agreement, the official said. Harvard has taken a different approach, suing the federal government in a bid to get suspended federal grants restored.
Otago Daily Times
2 days ago
- Otago Daily Times
Israel, US abandon Gaza ceasefire negotiations
Israeli Prime Minister Benjamin Netanyahu and US President Donald Trump appeared on Friday to abandon Gaza ceasefire negotiations with Hamas, both saying it had become clear that the Palestinian militants did not want a deal. Netanyahu said Israel was now mulling "alternative" options to achieve its goals of bringing its hostages home from Gaza and ending Hamas rule in the enclave, where starvation is spreading and most of the population is homeless amid widespread ruin. Trump said he believed Hamas leaders would now be "hunted down", telling reporters: "Hamas really didn't want to make a deal. I think they want to die. And it's very bad. And it got to be to a point where you're going to have to finish the job." The remarks appeared to leave little to no room, at least in the short term, to resume negotiations for a break in the fighting, at a time when international concern is mounting over worsening hunger in war-shattered Gaza. French President Emmanuel Macron, responding to the deteriorating humanitarian situation, announced that Paris would become the first major Western power to recognise an independent Palestinian state. Britain and Germany said they were not yet ready to do so but later joined France in calling for an immediate ceasefire. British Prime Minister Keith Starmer said his government would recognize a Palestinian state only as part of a negotiated peace deal. Trump dismissed Macron's move. "What he says doesn't matter," he said. "He's a very good guy. I like him, but that statement doesn't carry weight." Israel and the United States withdrew their delegations on Thursday from the ceasefire talks in Qatar, hours after Hamas submitted its response to a truce proposal. Sources initially said on Thursday that the Israeli withdrawal was only for consultations and did not necessarily mean the talks had reached a crisis. But Netanyahu's remarks suggested Israel's position had hardened overnight. US envoy Steve Witkoff said Hamas was to blame for the impasse, and Netanyahu said Witkoff had got it right. Senior Hamas official Basem Naim said on Facebook that the talks had been constructive, and criticised Witkoff's remarks as aimed at exerting pressure on Israel's behalf. "What we have presented - with full awareness and understanding of the complexity of the situation - we believe could lead to a deal if the enemy had the will to reach one," he said. Mediators Qatar and Egypt said there had been some progress in the latest round of talks. They said suspensions were a normal part of the process and they were committed to continuing to try to reach a ceasefire in partnership with the US The proposed ceasefire would suspend fighting for 60 days, allow more aid into Gaza, and free some of the 50 remaining hostages held by militants in return for Palestinian prisoners jailed in Israel. It has been held up by disagreement over how far Israel should withdraw its troops and the future beyond the 60 days if no permanent agreement is reached. Itamar Ben-Gvir, the far-right national security minister in Netanyahu's coalition, welcomed Netanyahu's step, calling for a total halt of aid to Gaza and complete conquest of the enclave, adding in a post on X: "Total annihilation of Hamas, encourage emigration, (Jewish) settlement." MASS HUNGER International aid organisations say mass hunger has now arrived among Gaza's 2.2 million people, with stocks running out after Israel cut off all supplies to the territory in March, then reopened it in May but with new restrictions. The Israeli military said on Friday it had agreed to let countries airdrop aid into Gaza. Hamas dismissed this as a stunt. 'The Gaza Strip does not need flying aerobatics, it needs an open humanitarian corridor and a steady daily flow of aid trucks to save what remains of the lives of besieged, starving civilians,' Ismail Al-Thawabta, director of the Hamas-run Gaza government media office, told Reuters. Gaza medical authorities said nine more Palestinians had died over the past 24 hours from malnutrition or starvation. Dozens have died in the past few weeks as hunger worsens. Israel says it has let enough food into Gaza and accuses the United Nations of failing to distribute it, in what the Israeli foreign ministry called on Friday "a deliberate ploy to defame Israel". The United Nations says it is operating as effectively as possible under Israeli restrictions. United Nations agencies said on Friday that supplies were running out in Gaza of specialised therapeutic food to save the lives of children suffering from severe acute malnutrition. United Nations aid chief Tom Fletcher also has demanded that Israel provide evidence for its accusations that staff with the U.N. Office for the Coordination of Humanitarian Affairs were affiliated with Hamas, according to a letter seen by Reuters. The ceasefire talks have been accompanied by continuing Israeli offensives. Palestinian health officials said Israeli airstrikes and gunfire had killed at least 21 people across the enclave on Friday, including five killed in a strike on a school sheltering displaced families in Gaza City. In the city, residents carried the body of journalist Adam Abu Harbid through the streets wrapped in a white shroud, his blue flak jacket marked PRESS draped across his body. He was killed overnight in a strike on tents housing displaced people. Mahmoud Awadia, another journalist attending the funeral, said the Israelis were deliberately trying to kill reporters. Israel denies intentionally targeting journalists. Israel launched its assault on Gaza after Hamas-led fighters stormed Israeli towns near the border, killing some 1,200 people and capturing 251 hostages on October 7, 2023. Since then, Israeli forces have killed nearly 60,000 people in Gaza, health officials there say, and reduced much of the enclave to ruins.
