New Zealand PM Doesn’t Expect to Win US Tariff Reprieve

New Zealand Prime Minister Christopher Luxon has conceded the government is unlikely to win a reduction in the tariff rate the US has applied to New Zealand goods.

Officials were taken by surprise when the US on Aug. 1 announced New Zealand imports would be hit with a 15% tariff — up from the 10% initially signaled and higher than some of its competitors such as Australia and the UK, which are at 10%.

In response, New Zealand said it would seek a reduction and dispatched a senior trade official to the US, with Trade Minister Todd McClay expected to ...