Prime Minister Christopher Luxon has suggested free trading Asia-Pacific nations and the European Union could form a bloc to collectively retaliate to United States tariffs, as US President Donald Trump throws markets into further disarray. Recounting how New Zealand’s lifting of trade barriers improved quality of life, PM Luxon said he was “not ready to throw in the towel quite yet” on free trade. “New Zealand will continue to work with like-minded countries to promote free trade as a path to prosperity and explore the role of the CPTPP in strengthening that vision.
One possibility is that members of the CPTPP and the European Union work together to champion rules-based trade and make specific commitments on how that support plays out in practice. My vision is that includes action to prevent restrictions on exports and efforts to ensure any retaliation is consistent with existing rules.
Collective action, and a collective commitment, by a large portion of the global economy would be a significant step towards preserving free trade flows and protecting supply chains.” PM Christopher Luxon says he will talking to world leaders today comparing notes on world trade after the Trump tariffs flip-flop.
©Beehive