New Zealand's Resilience Amid U.S. Tariff Turmoil

New Zealand expects modest effects from U.S. tariffs and is preparing policies to handle uncertainties in the financial markets. The global trade war, initiated by U.S. President Donald Trump's tariffs, is intensifying, with increased duties on China and potential EU countermeasures. Trump has set a 10% tariff on New Zealand imports.

New Zealand is bracing for a moderate impact from the recent tariffs imposed by the United States. However, Finance Minister Nicola Willis assures the nation that appropriate measures are in place to navigate through the uncertainties looming in the global financial markets.

The ongoing global trade war, exacerbated by U.S. President Donald Trump's assertive tariff policies, intensified earlier this week. On Monday, Trump threatened further tariff hikes on China, while the European Union hinted at imposing counter-tariffs.

As part of his sweeping tariff measures, Trump has set a 10% tariff on imports from New Zealand, marking the low end of his reciprocal tariff strategy. The country remains vigilant, focusing on policies to counteract potential economic disruptions.

(With inputs from agencies.)