NZ Relieved Over 10% US Timber Tariffs but Warns of Future Risks

New Zealand’s Ministry for Foreign Affairs and Trade (MFAT) expressed cautious relief after the United States imposed only a 10% tariff on most NZ timber exports, effective October 14. Vangelis Vitalis, MFAT’s deputy secretary for trade and economic issues, said at the Wood Processors and Manufacturers Association (WPMA) conference that the relatively low tariff was unexpected but welcomed.

However, Vitalis warned that tariffs could rise as New Zealand’s trade surplus with the US continues to expand, making the country a potential target for stricter measures. The new duties apply to all softwood products exported to the US. Industry stakeholders at the WPMA conference emphasised the need for continued diplomatic efforts and trade diversification to mitigate future risks, as any increase in tariffs could significantly affect the timber sector’s competitiveness and export earnings.

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