NZ Trade Policy: Tariff Cuts On Hold For Years
October 23rd, 2009
For once something for manufacturers and unions to get excited about together - the Govt says there will no unilateral reduction of any tariffs until 2015 at the earliest. Unions welcome the move saying it will help protect jobs. Council of Trade Unions Secretary Peter Conway says while tariffs provide much less security for local industry and jobs than in the past, they still make a difference for manufacturing businesses.
NZ has had a policy of reducing or at least looking at its tariffs since the 1980s, though Labour decided to hold them at 2009 levels until 2011. The tariff reduction policy was part of NZ’s sometimes near suicidal fixation with the “open” market, but was flawed because few other countries dropped their tariffs in response.
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