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# Trump targets trade deficits with 10% tariffs — NZ caught in the crossfire
- URL: https://goodoil.news/trump-targets-trade-deficits-with-10-tariffs-nz-caught-in-the-crossfire/
- Published: 2025-04-04T21:04:22.000Z
- Updated: 2025-04-05T20:42:00.000Z
- Description: “Tariffs like this are unprecedented.”
- Author: Centrist
- Tags: News

Summarised by [Centrist](http://www.centrist.nz/?ref=goodoil.news)

**President Trump’s sweeping new 10% tariffs are aimed squarely at fixing trade imbalances — including New Zealand’s.** 

**Despite officials pitching the policy as “reciprocal,” the Trump administration isn’t matching tariff rates.** 

**Instead, it’s targeting countries with persistent trade surpluses, like New Zealand, and imposing a blanket 10% duty on most imports.**

Trade Minister Todd McClay confirmed the U.S. move is based on trade deficits, not actual tariffs. “We’re selling them more than we’re buying at the moment,” he told RNZ — effectively confirming that New Zealand currently enjoys a surplus.

McClay called the US approach to level the playing field a “misunderstanding.”

Some goods, like wood and metals, are temporarily exempt due to ongoing investigations or existing duties.

Markets dipped hard on the news, with the Dow falling nearly 4%. But KiwiSaver fund managers urged calm. “Tariffs like this are unprecedented,” said Mike Taylor of Pie Funds. 

Others say New Zealand exporters may benefit as global trade routes shift — especially if US beef remains blocked from China.

[**Read more over at RNZ**](https://www.rnz.co.nz/news/business/557186/trump-tariffs-trade-minister-todd-mcclay-gets-clarification-on-how-the-united-states-new-regime-will-work?ref=goodoil.news)

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