US Steel Import Tariffs A Backward Step

The United States decision to impose tariffs of 30% on a range of steel imports is a backward step, said Simon Carlaw Chief Executive Business NZ.

"It is difficult to identify any real beneficiaries of this step. Certainly, NZ exporters of steel product will be hit, along with many other exporters outside NAFTA.

"But the real risks may prove to be to the prospects for a new trade round and to an early and sustained recovery in both the US and global economies.

"This action again underlines the critical importance of reducing, not increasing barriers to trade, and for pursuing free trade arrangements with the United States."

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