Inside Economics: Tariffs explained - who pays? Will they cost NZ consumers?

United States President Donald Trump’s dramatic tariff announcement has upended a decades-long status quo for global trade. As a small trading nation that relies on exports to pay our way, this is a concern. Today’s announcement of a 10% tariff on all New Zealand exports is smaller than that imposed on many nations but will still require a major adjustment for New Zealand traders.

More broadly, the US tariff policy will have implications for all aspects of the global economy - from China’s GDP to New Zealand’s mortgage rates. What are tariffs?.